Savant Capital LLC Raises Holdings in Packaging Co. of America (NYSE:PKG)

Savant Capital LLC grew its holdings in Packaging Co. of America (NYSE:PKG) by 2.0% in the fourth quarter, Holdings Channel reports. The firm owned 10,221 shares of the industrial products company’s stock after buying an additional 200 shares during the quarter. Savant Capital LLC’s holdings in Packaging Co. of America were worth $2,301,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of PKG. Washburn Capital Management Inc. bought a new stake in Packaging Co. of America in the 4th quarter worth about $256,000. Newbridge Financial Services Group Inc. purchased a new stake in shares of Packaging Co. of America during the 4th quarter valued at about $70,000. Kestra Private Wealth Services LLC boosted its holdings in shares of Packaging Co. of America by 74.4% during the 4th quarter. Kestra Private Wealth Services LLC now owns 2,096 shares of the industrial products company’s stock valued at $472,000 after acquiring an additional 894 shares during the last quarter. Entropy Technologies LP bought a new stake in shares of Packaging Co. of America in the fourth quarter worth approximately $7,320,000. Finally, Apollon Wealth Management LLC raised its holdings in shares of Packaging Co. of America by 10.7% during the fourth 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. Hedge funds and other institutional investors own 89.78% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on PKG. Truist Financial restated a “buy” rating and issued a $265.00 target price (down previously from $282.00) on shares of Packaging Co. of America in a report on Thursday, January 30th. Citigroup raised their price target on Packaging Co. of America from $232.00 to $235.00 and gave the stock a “neutral” rating in a research note on Monday, January 6th. StockNews.com cut Packaging Co. of America from a “buy” rating to a “hold” rating in a research report on Wednesday, January 29th. Jefferies Financial Group raised Packaging Co. of America from a “hold” rating to a “buy” rating and raised their target price for the stock from $215.00 to $280.00 in a research report on Wednesday, December 18th. Finally, Wells Fargo & Company cut their price target on Packaging Co. of America from $253.00 to $236.00 and set an “overweight” rating for the company in a research note on Thursday, January 30th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $233.00.

Packaging Co. of America Price Performance

Shares of Packaging Co. of America stock opened at $204.50 on Thursday. The stock has a market cap of $18.37 billion, a P/E ratio of 22.90, a P/E/G ratio of 2.40 and a beta of 0.77. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.98 and a current ratio of 2.95. The stock’s fifty day moving average is $228.12 and its 200 day moving average is $221.30. Packaging Co. of America has a one year low of $163.68 and a one year high of $250.82.

Packaging Co. of America (NYSE:PKG) last posted its quarterly earnings data on Tuesday, January 28th. The industrial products company reported $2.47 EPS for the quarter, missing the consensus estimate of $2.51 by ($0.04). Packaging Co. of America had a return on equity of 19.67% and a net margin of 9.60%. Sell-side analysts anticipate that Packaging Co. of America will post 10.6 earnings per share for the current year.

Packaging Co. of America Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Friday, December 20th were issued a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a yield of 2.44%. The ex-dividend date was Friday, December 20th. Packaging Co. of America’s dividend payout ratio is currently 55.99%.

Insiders Place Their Bets

In other news, SVP Joseph Vaughn sold 2,300 shares of the business’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $244.89, for a total value of $563,247.00. Following the transaction, the senior vice president now directly owns 9,197 shares in the company, valued at $2,252,253.33. The trade was a 20.01 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Paul T. Stecko sold 10,500 shares of the company’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $244.91, for a total value of $2,571,555.00. Following the completion of the transaction, the director now directly owns 8,881 shares of the company’s stock, valued at approximately $2,175,045.71. This trade represents a 54.18 % decrease in their position. The disclosure for this sale can be found here. 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.