Sanctuary Advisors LLC Reduces Stake in Packaging Co. of America (NYSE:PKG)

Sanctuary Advisors LLC reduced its stake in Packaging Co. of America (NYSE:PKG) by 6.2% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 19,012 shares of the industrial products company’s stock after selling 1,258 shares during the quarter. Sanctuary Advisors LLC’s holdings in Packaging Co. of America were worth $4,073,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. Fortitude Family Office LLC lifted its stake in shares of Packaging Co. of America by 150.8% in the 4th quarter. Fortitude Family Office LLC now owns 163 shares of the industrial products company’s stock valued at $37,000 after purchasing an additional 98 shares during the last quarter. Larson Financial Group LLC lifted its stake in shares of Packaging Co. of America by 234.7% in the 3rd quarter. Larson Financial Group LLC now owns 164 shares of the industrial products company’s stock valued at $35,000 after purchasing an additional 115 shares during the last quarter. Golden State Wealth Management LLC acquired a new position in shares of Packaging Co. of America in the 4th quarter valued at $48,000. Assetmark Inc. lifted its stake in shares of Packaging Co. of America by 44.6% in the 3rd quarter. Assetmark Inc. now owns 269 shares of the industrial products company’s stock valued at $58,000 after purchasing an additional 83 shares during the last quarter. Finally, Brooklyn Investment Group acquired a new position in shares of Packaging Co. of America in the 3rd quarter valued at $64,000. 89.78% of the stock is currently owned by hedge funds and other institutional investors.

Packaging Co. of America Price Performance

PKG opened at $208.19 on Friday. The stock’s 50-day moving average price is $224.09 and its 200 day moving average price is $221.82. The company has a current ratio of 2.95, a quick ratio of 1.98 and a debt-to-equity ratio of 0.58. Packaging Co. of America has a 12-month low of $169.00 and a 12-month high of $250.82. The firm has a market cap of $18.70 billion, a price-to-earnings ratio of 23.31, a PEG ratio of 2.44 and a beta of 0.77.

Packaging Co. of America (NYSE:PKG) last issued its quarterly earnings results on Tuesday, January 28th. The industrial products company reported $2.47 earnings per share 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%. As a group, sell-side analysts expect that Packaging Co. of America will post 10.44 earnings per share for the current year.

Packaging Co. of America Dividend Announcement

The business 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. The ex-dividend date 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 55.99%.

Insiders Place Their Bets

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

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Jefferies Financial Group raised Packaging Co. of America from a “hold” rating to a “buy” rating and upped their price target for the company from $215.00 to $280.00 in a research note on Wednesday, December 18th. Seaport Res Ptn raised Packaging Co. of America from a “hold” rating to a “strong-buy” rating in a research note on Thursday, February 13th. Truist Financial reaffirmed a “buy” rating and issued a $265.00 price target (down previously from $282.00) on shares of Packaging Co. of America in a research note on Thursday, January 30th. StockNews.com lowered Packaging Co. of America from a “buy” rating to a “hold” rating in a research note on Wednesday, January 29th. Finally, Citigroup increased their target price 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. Three equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $233.00.

Packaging Co. of America Company Profile

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.