Empowered Funds LLC Sells 3,931 Shares of Packaging Co. of America (NYSE:PKG)

Empowered Funds LLC trimmed its stake in Packaging Co. of America (NYSE:PKG) by 79.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 987 shares of the industrial products company’s stock after selling 3,931 shares during the period. Empowered Funds LLC’s holdings in Packaging Co. of America were worth $222,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. Apollon Wealth Management LLC lifted its stake in shares of Packaging Co. of America by 10.7% in the 4th quarter. Apollon Wealth Management LLC now owns 1,534 shares of the industrial products company’s stock valued at $345,000 after purchasing an additional 148 shares during the last quarter. Conning Inc. purchased a new stake in shares of Packaging Co. of America in the fourth quarter worth approximately $32,329,000. Golden State Wealth Management LLC purchased a new stake in shares of Packaging Co. of America in the fourth quarter worth approximately $48,000. Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in shares of Packaging Co. of America by 19.2% in the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 10,551 shares of the industrial products company’s stock worth $2,375,000 after buying an additional 1,699 shares during the period. Finally, Strategic Financial Concepts LLC purchased a new stake in shares of Packaging Co. of America in the fourth quarter worth approximately $6,966,000. 89.78% of the stock is owned by institutional investors.

Packaging Co. of America Stock Down 0.7 %

Shares of NYSE PKG opened at $208.19 on Friday. The company has a current ratio of 2.95, a quick ratio of 1.98 and a debt-to-equity ratio of 0.58. The stock has a market capitalization of $18.70 billion, a PE ratio of 23.31, a price-to-earnings-growth ratio of 2.44 and a beta of 0.77. The stock’s fifty day simple moving average is $224.09 and its two-hundred day simple moving average is $221.82. Packaging Co. of America has a 12-month low of $169.00 and a 12-month high of $250.82.

Packaging Co. of America (NYSE:PKG) last announced its earnings results on Tuesday, January 28th. The industrial products company reported $2.47 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.51 by ($0.04). Packaging Co. of America had a net margin of 9.60% and a return on equity of 19.67%. As a group, analysts expect that Packaging Co. of America will post 10.44 EPS for the current fiscal year.

Packaging Co. of America Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Friday, December 20th were given a dividend of $1.25 per share. The ex-dividend date of this dividend was Friday, December 20th. This represents a $5.00 annualized dividend and a yield of 2.40%. Packaging Co. of America’s dividend payout ratio (DPR) is presently 55.99%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on PKG shares. Jefferies Financial Group upgraded Packaging Co. of America from a “hold” rating to a “buy” rating and increased their price target for the stock from $215.00 to $280.00 in a report on Wednesday, December 18th. Seaport Res Ptn upgraded Packaging Co. of America from a “hold” rating to a “strong-buy” rating in a report on Thursday, February 13th. Wells Fargo & Company reduced their price target on Packaging Co. of America from $253.00 to $236.00 and set an “overweight” rating on the stock in a report on Thursday, January 30th. StockNews.com downgraded Packaging Co. of America from a “buy” rating to a “hold” rating in a report on Wednesday, January 29th. Finally, Truist Financial restated a “buy” rating and set a $265.00 price objective (down from $282.00) on shares of Packaging Co. of America in a report on Thursday, January 30th. Three analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $233.00.

Insider Buying and Selling at Packaging Co. of America

In other news, SVP Joseph Vaughn sold 2,300 shares of the firm’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $244.89, for a total value of $563,247.00. Following the completion of the sale, the senior vice president now owns 9,197 shares of the company’s stock, valued at $2,252,253.33. This trade represents a 20.01 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.60% of the company’s stock.

About Packaging Co. of America

Packaging Corporation of America engages in the production of container products. It operates through the following segments: Packaging, Paper, and Corporate and Other. The Packaging segment offers a variety of corrugated packaging products, such as conventional shipping containers. The Paper segment manufactures and sells a range of papers, including communication-based papers, and pressure sensitive papers.