Packaging Co. of America (NYSE:PKG) Shares Bought by Blue Trust Inc.

Blue Trust Inc. grew its holdings in shares of Packaging Co. of America (NYSE:PKG) by 7.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,605 shares of the industrial products company’s stock after purchasing an additional 307 shares during the quarter. Blue Trust Inc.’s holdings in Packaging Co. of America were worth $992,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Central Pacific Bank Trust Division acquired a new stake in Packaging Co. of America during the 3rd quarter worth $32,000. Larson Financial Group LLC boosted its stake in Packaging Co. of America by 234.7% during the 3rd quarter. Larson Financial Group LLC now owns 164 shares of the industrial products company’s stock worth $35,000 after purchasing an additional 115 shares during the last quarter. Fortitude Family Office LLC boosted its stake in Packaging Co. of America by 150.8% during the 4th quarter. Fortitude Family Office LLC now owns 163 shares of the industrial products company’s stock worth $37,000 after purchasing an additional 98 shares during the last quarter. Assetmark Inc. boosted its stake in Packaging Co. of America by 44.6% during the 3rd quarter. Assetmark Inc. now owns 269 shares of the industrial products company’s stock worth $58,000 after purchasing an additional 83 shares during the last quarter. Finally, Brooklyn Investment Group acquired a new stake in Packaging Co. of America during the 3rd quarter worth $64,000. Institutional investors and hedge funds own 89.78% of the company’s stock.

Packaging Co. of America Stock Down 0.4 %

Shares of NYSE:PKG opened at $238.71 on Wednesday. The firm’s 50-day moving average is $235.89 and its two-hundred day moving average is $220.08. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.95 and a quick ratio of 1.98. Packaging Co. of America has a 1 year low of $159.57 and a 1 year high of $250.82. The firm has a market capitalization of $21.44 billion, a PE ratio of 27.82, a price-to-earnings-growth ratio of 2.36 and a beta of 0.79.

Packaging Co. of America (NYSE:PKG) last released its earnings results on Tuesday, January 28th. The industrial products company reported $2.47 earnings per share for the quarter, missing analysts’ consensus estimates of $2.51 by ($0.04). Packaging Co. of America had a return on equity of 19.10% and a net margin of 9.46%. Analysts predict that Packaging Co. of America will post 9.08 EPS for the current year.

Packaging Co. of America Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Friday, December 20th were paid a dividend of $1.25 per share. The ex-dividend date of this dividend was Friday, December 20th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.09%. Packaging Co. of America’s payout ratio is 58.28%.

Analyst Ratings Changes

Several brokerages have recently weighed in on PKG. Citigroup boosted their price target on shares of Packaging Co. of America from $232.00 to $235.00 and gave the company a “neutral” rating in a research report on Monday, January 6th. Truist Financial boosted their price target on shares of Packaging Co. of America from $252.00 to $282.00 and gave the company a “buy” rating in a research report on Monday, January 6th. Wells Fargo & Company boosted their price target on shares of Packaging Co. of America from $235.00 to $253.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. Jefferies Financial Group raised shares of Packaging Co. of America from a “hold” rating to a “buy” rating and boosted their price target for the company from $215.00 to $280.00 in a research report on Wednesday, December 18th. Finally, StockNews.com raised shares of Packaging Co. of America from a “hold” rating to a “buy” rating in a research report on Tuesday, December 24th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $238.67.

Insider Buying and Selling

In related news, SVP Joseph Vaughn sold 2,300 shares of the company’s stock in a transaction that occurred 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 transaction, the senior vice president now directly owns 9,197 shares of the company’s stock, valued at $2,252,253.33. This represents a 20.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Robert P. Mundy sold 12,500 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $240.62, for a total value of $3,007,750.00. Following the completion of the transaction, the chief financial officer now directly owns 43,954 shares of the company’s stock, valued at $10,576,211.48. This trade represents a 22.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 33,300 shares of company stock worth $8,064,152. Company 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.