986 Shares in Packaging Co. of America (NYSE:PKG) Acquired by Passumpsic Savings Bank

Passumpsic Savings Bank bought a new position in shares of Packaging Co. of America (NYSE:PKG) during the third quarter, Holdings Channel.com reports. The fund bought 986 shares of the industrial products company’s stock, valued at approximately $212,000.

Other large investors have also recently made changes to their positions in the company. Asset Dedication LLC boosted its holdings in Packaging Co. of America by 200.0% in the second quarter. Asset Dedication LLC now owns 168 shares of the industrial products company’s stock valued at $31,000 after purchasing an additional 112 shares in the last quarter. Central Pacific Bank Trust Division acquired a new position in Packaging Co. of America in the third quarter valued at approximately $32,000. Tortoise Investment Management LLC acquired a new position in Packaging Co. of America in the second quarter valued at approximately $33,000. Larson Financial Group LLC boosted its holdings in 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 valued at $35,000 after purchasing an additional 115 shares in the last quarter. Finally, Strategic Financial Concepts LLC acquired a new stake in shares of Packaging Co. of America in the second quarter valued at approximately $50,000. 89.78% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, SVP Donald R. Shirley sold 8,000 shares of the company’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $240.20, for a total transaction of $1,921,600.00. Following the transaction, the senior vice president now directly owns 15,725 shares of the company’s stock, valued at approximately $3,777,145. The trade was a 33.72 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Joseph Vaughn sold 2,300 shares of the business’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $244.89, for a total value of $563,247.00. Following the completion of the transaction, the senior vice president now owns 9,197 shares in the company, valued at $2,252,253.33. This trade represents a 20.01 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 33,300 shares of company stock worth $8,064,152 over the last 90 days. 1.60% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on PKG. StockNews.com raised Packaging Co. of America from a “hold” rating to a “buy” rating in a report on Tuesday, December 3rd. Wells Fargo & Company increased their price target on Packaging Co. of America from $235.00 to $253.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. Citigroup increased 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, Truist Financial reaffirmed a “buy” rating and set a $252.00 price target (up from $242.00) on shares of Packaging Co. of America in a report on Thursday, October 24th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, Packaging Co. of America has an average rating of “Moderate Buy” and a consensus target price of $221.60.

Packaging Co. of America Stock Performance

NYSE PKG opened at $238.48 on Wednesday. The firm has a market capitalization of $21.42 billion, a P/E ratio of 27.77, a P/E/G ratio of 3.41 and a beta of 0.77. Packaging Co. of America has a 1-year low of $159.57 and a 1-year high of $250.82. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.95 and a quick ratio of 1.98. The business’s 50-day simple moving average is $232.07 and its 200-day simple moving average is $207.94.

Packaging Co. of America (NYSE:PKG) last announced its earnings results on Tuesday, October 22nd. The industrial products company reported $2.65 EPS for the quarter, beating the consensus estimate of $2.50 by $0.15. Packaging Co. of America had a return on equity of 19.10% and a net margin of 9.46%. The business had revenue of $2.18 billion for the quarter, compared to the consensus estimate of $2.09 billion. During the same period last year, the business posted $2.05 EPS. The company’s revenue was up 14.9% on a year-over-year basis. Equities analysts predict that Packaging Co. of America will post 9.07 EPS for the current year.

Packaging Co. of America Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Friday, December 20th will be issued a $1.25 dividend. This represents a $5.00 annualized dividend and a dividend yield of 2.10%. Packaging Co. of America’s dividend payout ratio (DPR) is 58.28%.

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.