JGP Wealth Management LLC Has $1.49 Million Stock Position in Packaging Co. of America (NYSE:PKG)

JGP Wealth Management LLC cut its holdings in Packaging Co. of America (NYSE:PKG) by 2.9% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 6,936 shares of the industrial products company’s stock after selling 204 shares during the quarter. JGP Wealth Management LLC’s holdings in Packaging Co. of America were worth $1,494,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. CANADA LIFE ASSURANCE Co boosted its stake in Packaging Co. of America by 4.6% during the first quarter. CANADA LIFE ASSURANCE Co now owns 70,689 shares of the industrial products company’s stock worth $13,419,000 after acquiring an additional 3,078 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp increased its position in Packaging Co. of America by 30.4% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 90,686 shares of the industrial products company’s stock valued at $17,168,000 after buying an additional 21,143 shares in the last quarter. Cim LLC acquired a new position in Packaging Co. of America during the 4th quarter worth approximately $2,003,000. Summit Financial Strategies Inc. boosted its holdings in Packaging Co. of America by 5.5% in the second quarter. Summit Financial Strategies Inc. now owns 234,495 shares of the industrial products company’s stock worth $42,809,000 after acquiring an additional 12,129 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale grew its stake in Packaging Co. of America by 6.8% in the first quarter. DekaBank Deutsche Girozentrale now owns 224,273 shares of the industrial products company’s stock valued at $41,839,000 after acquiring an additional 14,277 shares during the period. 89.78% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have weighed in on PKG. Bank of America raised their price objective on shares of Packaging Co. of America from $197.00 to $200.00 and gave the company a “buy” rating in a research note on Monday, June 17th. StockNews.com lowered Packaging Co. of America from a “buy” rating to a “hold” rating in a report on Saturday, September 28th. Truist Financial increased their price objective on Packaging Co. of America from $215.00 to $219.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. Citigroup upped their price target on Packaging Co. of America from $199.00 to $221.00 and gave the stock a “neutral” rating in a report on Wednesday, October 2nd. Finally, Wells Fargo & Company raised their price objective on Packaging Co. of America from $215.00 to $235.00 and gave the company an “overweight” rating in a research note on Monday. Five analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, Packaging Co. of America currently has a consensus rating of “Hold” and an average target price of $199.50.

Insider Buying and Selling at Packaging Co. of America

In other news, SVP Donald R. Shirley sold 6,000 shares of Packaging Co. of America stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $196.28, for a total transaction of $1,177,680.00. Following the completion of the transaction, the senior vice president now directly owns 20,772 shares in the company, valued at approximately $4,077,128.16. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Packaging Co. of America news, EVP Charles J. Carter sold 5,389 shares of the business’s stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $196.28, for a total transaction of $1,057,752.92. Following the completion of the sale, the executive vice president now directly owns 25,539 shares in the company, valued at approximately $5,012,794.92. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Donald R. Shirley sold 6,000 shares of the stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $196.28, for a total value of $1,177,680.00. Following the completion of the transaction, the senior vice president now directly owns 20,772 shares in the company, valued at approximately $4,077,128.16. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.60% of the company’s stock.

Packaging Co. of America Stock Performance

Shares of Packaging Co. of America stock traded up $1.36 during trading hours on Friday, hitting $217.62. 83,966 shares of the company’s stock traded hands, compared to its average volume of 595,128. The company has a fifty day simple moving average of $206.14 and a 200-day simple moving average of $191.64. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.43 and a quick ratio of 1.71. The stock has a market capitalization of $19.54 billion, a price-to-earnings ratio of 27.13, a PEG ratio of 4.25 and a beta of 0.77. Packaging Co. of America has a 12-month low of $143.82 and a 12-month high of $218.67.

Packaging Co. of America (NYSE:PKG) last announced its quarterly earnings results on Tuesday, July 23rd. The industrial products company reported $2.20 EPS for the quarter, beating analysts’ consensus estimates of $2.14 by $0.06. The company had revenue of $2.08 billion for the quarter, compared to analysts’ expectations of $2.02 billion. Packaging Co. of America had a net margin of 9.06% and a return on equity of 18.21%. Packaging Co. of America’s revenue was up 6.3% compared to the same quarter last year. During the same period in the prior year, the company posted $2.31 EPS. Equities research analysts anticipate that Packaging Co. of America will post 8.73 EPS for the current fiscal year.

Packaging Co. of America Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Tuesday, October 15th were paid a $1.25 dividend. The ex-dividend date was Monday, September 16th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.30%. Packaging Co. of America’s dividend payout ratio (DPR) is 62.74%.

Packaging Co. of America Company 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.