Packaging Co. of America (NYSE:PKG) Shares Sold by Corient Private Wealth LLC

Corient Private Wealth LLC lessened its holdings in Packaging Co. of America (NYSE:PKG) by 2.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 129,654 shares of the industrial products company’s stock after selling 2,888 shares during the quarter. Corient Private Wealth LLC owned about 0.14% of Packaging Co. of America worth $29,190,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Larson Financial Group LLC increased its stake in shares of Packaging Co. of America by 234.7% in the third quarter. Larson Financial Group LLC now owns 164 shares of the industrial products company’s stock worth $35,000 after acquiring an additional 115 shares during the period. Fortitude Family Office LLC grew its position 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 period. Centricity Wealth Management LLC purchased a new position in shares of Packaging Co. of America during the 4th quarter valued at about $44,000. Golden State Wealth Management LLC acquired a new position in shares of Packaging Co. of America in the 4th quarter valued at about $48,000. Finally, Assetmark Inc. boosted its stake in shares of Packaging Co. of America by 44.6% in the third quarter. Assetmark Inc. now owns 269 shares of the industrial products company’s stock worth $58,000 after buying an additional 83 shares during the last quarter. 89.78% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Packaging Co. of America Stock Up 0.9 %

PKG opened at $198.53 on Tuesday. The company has a quick ratio of 1.98, a current ratio of 2.95 and a debt-to-equity ratio of 0.58. Packaging Co. of America has a twelve month low of $169.00 and a twelve month high of $250.82. The company has a market cap of $17.83 billion, a PE ratio of 22.23, a price-to-earnings-growth ratio of 2.41 and a beta of 0.77. The company has a 50-day moving average price of $216.47 and a 200 day moving average price of $222.77.

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 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%. Sell-side analysts expect that Packaging Co. of America will post 10.44 earnings per share for the current fiscal year.

Packaging Co. of America Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Friday, March 14th will be given a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.52%. The ex-dividend date of this dividend is Friday, March 14th. Packaging Co. of America’s dividend payout ratio (DPR) is 55.99%.

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.