Community Bank & Trust Waco Texas Sells 366 Shares of Packaging Co. of America (NYSE:PKG)

Community Bank & Trust Waco Texas reduced its stake in shares of Packaging Co. of America (NYSE:PKG) by 15.5% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 1,989 shares of the industrial products company’s stock after selling 366 shares during the period. Community Bank & Trust Waco Texas’ holdings in Packaging Co. of America were worth $324,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of PKG. Annis Gardner Whiting Capital Advisors LLC bought a new position in shares of Packaging Co. of America in the third quarter valued at $25,000. Anchor Investment Management LLC bought a new position in shares of Packaging Co. of America in the fourth quarter valued at $37,000. Fortis Group Advisors LLC bought a new position in shares of Packaging Co. of America in the third quarter valued at $46,000. BKM Wealth Management LLC bought a new position in Packaging Co. of America during the fourth quarter worth $49,000. Finally, Orion Capital Management LLC bought a new position in Packaging Co. of America during the third quarter worth $53,000. 89.78% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Packaging Co. of America news, CFO Robert P. Mundy sold 10,000 shares of Packaging Co. of America stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $182.51, for a total transaction of $1,825,100.00. Following the transaction, the chief financial officer now directly owns 46,454 shares of the company’s stock, valued at $8,478,319.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, VP Thomas A. Hassfurther sold 14,191 shares of Packaging Co. of America stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $173.80, for a total value of $2,466,395.80. Following the transaction, the vice president now directly owns 183,930 shares of the company’s stock, valued at $31,967,034. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Robert P. Mundy sold 10,000 shares of Packaging Co. of America stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $182.51, for a total transaction of $1,825,100.00. Following the completion of the transaction, the chief financial officer now directly owns 46,454 shares in the company, valued at $8,478,319.54. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 38,041 shares of company stock valued at $6,799,177. 1.70% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. BNP Paribas cut shares of Packaging Co. of America from an “outperform” rating to a “neutral” rating and set a $182.00 target price for the company. in a research report on Friday, April 12th. Truist Financial boosted their price target on Packaging Co. of America from $170.00 to $187.00 and gave the company a “buy” rating in a research note on Thursday, January 4th. Bank of America raised Packaging Co. of America from a “neutral” rating to a “buy” rating and boosted their price target for the company from $172.00 to $202.00 in a research note on Monday, March 4th. StockNews.com cut Packaging Co. of America from a “buy” rating to a “hold” rating in a report on Friday. Finally, Seaport Res Ptn cut Packaging Co. of America from a “buy” rating to a “neutral” rating in a report on Monday, January 29th. Six analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Packaging Co. of America currently has a consensus rating of “Hold” and an average target price of $171.29.

Packaging Co. of America Price Performance

NYSE PKG traded down $7.63 during trading hours on Tuesday, hitting $171.66. The company had a trading volume of 1,008,557 shares, compared to its average volume of 692,968. Packaging Co. of America has a 52 week low of $122.20 and a 52 week high of $191.27. The firm has a 50 day simple moving average of $181.44 and a 200 day simple moving average of $167.88. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.77 and a current ratio of 2.57. The firm has a market capitalization of $15.41 billion, a price-to-earnings ratio of 21.14, a PEG ratio of 4.33 and a beta of 0.78.

Packaging Co. of America (NYSE:PKG) last issued its earnings results on Tuesday, April 23rd. The industrial products company reported $1.72 EPS for the quarter, topping the consensus estimate of $1.63 by $0.09. Packaging Co. of America had a return on equity of 20.25% and a net margin of 9.81%. The business had revenue of $1.98 billion during the quarter, compared to the consensus estimate of $1.91 billion. During the same quarter last year, the company earned $2.20 EPS. The firm’s revenue was up .2% compared to the same quarter last year. Equities research analysts expect that Packaging Co. of America will post 8.31 earnings per share for the current year.

Packaging Co. of America Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Friday, March 15th were paid a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a dividend yield of 2.91%. The ex-dividend date of this dividend was Thursday, March 14th. Packaging Co. of America’s dividend payout ratio (DPR) is presently 58.96%.

Packaging Co. of America Profile

Packaging Corporation of America manufactures and sells containerboard and corrugated packaging products in the United States. The company operates through three segments: Packaging, Paper, and Corporate and Other. The Packaging segment offers various containerboard and corrugated packaging products, such as conventional shipping containers used to protect and transport manufactured goods; multi-color boxes and displays that help to merchandise the packaged product in retail locations; and honeycomb protective packaging products, as well as packaging for meat, fresh fruit and vegetables, processed food, beverages, and other industrial and consumer products.