Packaging Co. of America (NYSE:PKG) Stock Holdings Reduced by Resources Management Corp CT ADV

Resources Management Corp CT ADV lessened its position in shares of Packaging Co. of America (NYSE:PKG) by 0.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 13,531 shares of the industrial products company’s stock after selling 88 shares during the quarter. Resources Management Corp CT ADV’s holdings in Packaging Co. of America were worth $2,470,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also bought and sold shares of PKG. Register Financial Advisors LLC bought a new stake in shares of Packaging Co. of America during the first quarter worth $25,000. Asset Dedication LLC grew its stake in Packaging Co. of America by 200.0% in the second quarter. Asset Dedication LLC now owns 168 shares of the industrial products company’s stock valued at $31,000 after acquiring an additional 112 shares during the period. Neo Ivy Capital Management acquired a new position in shares of Packaging Co. of America during the fourth quarter worth about $28,000. Tortoise Investment Management LLC acquired a new position in shares of Packaging Co. of America during the second quarter worth about $33,000. Finally, Headlands Technologies LLC acquired a new position in Packaging Co. of America during the first quarter valued at approximately $43,000. Institutional investors and hedge funds own 89.78% of the company’s stock.

Insider Activity at Packaging Co. of America

In related news, SVP Donald R. Shirley sold 6,000 shares of the company’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $196.28, for a total value of $1,177,680.00. Following the transaction, the senior vice president now owns 20,772 shares in the company, valued at $4,077,128.16. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, EVP Charles J. Carter sold 5,389 shares of the company’s stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $196.28, for a total value of $1,057,752.92. Following the transaction, the executive vice president now owns 25,539 shares of the company’s stock, valued at $5,012,794.92. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP Donald R. Shirley sold 6,000 shares of the company’s stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $196.28, for a total transaction of $1,177,680.00. Following the completion of the transaction, the senior vice president now directly owns 20,772 shares in the company, valued at approximately $4,077,128.16. The disclosure for this sale can be found here. 1.60% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms have commented on PKG. Wells Fargo & Company raised their price objective on Packaging Co. of America from $194.00 to $215.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. StockNews.com upgraded Packaging Co. of America from a “hold” rating to a “buy” rating in a research note on Thursday, September 19th. Bank of America raised their target price on Packaging Co. of America from $197.00 to $200.00 and gave the company a “buy” rating in a report on Monday, June 17th. Truist Financial raised their target price on Packaging Co. of America from $215.00 to $219.00 and gave the company a “buy” rating in a report on Thursday, July 25th. Finally, Citigroup raised their price objective on Packaging Co. of America from $181.00 to $187.00 and gave the company a “neutral” rating in a report on Monday, July 8th. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $190.50.

Packaging Co. of America Stock Performance

PKG stock opened at $214.50 on Tuesday. The stock has a 50-day moving average price of $201.00 and a 200-day moving average price of $188.98. Packaging Co. of America has a 1-year low of $143.82 and a 1-year high of $217.69. The company has a current ratio of 2.43, a quick ratio of 1.71 and a debt-to-equity ratio of 0.60. The firm has a market cap of $19.26 billion, a PE ratio of 26.81, a price-to-earnings-growth ratio of 4.22 and a beta of 0.77.

Packaging Co. of America (NYSE:PKG) last issued its earnings results on Tuesday, July 23rd. The industrial products company reported $2.20 EPS for the quarter, beating analysts’ consensus estimates of $2.14 by $0.06. Packaging Co. of America had a return on equity of 18.21% and a net margin of 9.06%. The business had revenue of $2.08 billion during the quarter, compared to analyst estimates of $2.02 billion. During the same period in the previous year, the company posted $2.31 EPS. The firm’s revenue was up 6.3% compared to the same quarter last year. As a group, equities research analysts expect that Packaging Co. of America will post 8.72 earnings per share for the current year.

Packaging Co. of America Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 16th will be paid a $1.25 dividend. The ex-dividend date of this dividend is Monday, September 16th. This represents a $5.00 annualized dividend and a yield of 2.33%. Packaging Co. of America’s payout ratio is 62.50%.

Packaging Co. of America Company Profile

Packaging Corporation of America manufactures and sells containerboard and corrugated packaging products in the United States. The company operates through three segments: Packaging, Paper, and Corporate and Other. The Packaging segment offers various containerboard and corrugated packaging products, such as conventional shipping containers used to protect and transport manufactured goods; multi-color boxes and displays that help to merchandise the packaged product in retail locations; and honeycomb protective packaging products, as well as packaging for meat, fresh fruit and vegetables, processed food, beverages, and other industrial and consumer products.