Packaging Co. of America (NYSE:PKG) Shares Sold by Bangor Savings Bank

Bangor Savings Bank reduced its position in Packaging Co. of America (NYSE:PKG) by 8.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,042 shares of the industrial products company’s stock after selling 471 shares during the quarter. Bangor Savings Bank’s holdings in Packaging Co. of America were worth $998,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in PKG. Miracle Mile Advisors LLC grew its stake in Packaging Co. of America by 12.1% during the 1st quarter. Miracle Mile Advisors LLC now owns 1,097 shares of the industrial products company’s stock worth $217,000 after buying an additional 118 shares during the last quarter. Sivia Capital Partners LLC acquired a new stake in Packaging Co. of America in the first quarter worth about $244,000. Littlejohn Financial Services Inc. grew its stake in shares of Packaging Co. of America by 2.2% during the first quarter. Littlejohn Financial Services Inc. now owns 8,311 shares of the industrial products company’s stock worth $1,646,000 after acquiring an additional 179 shares during the last quarter. Atwater Malick LLC grew its stake in shares of Packaging Co. of America by 12.5% during the first quarter. Atwater Malick LLC now owns 15,059 shares of the industrial products company’s stock worth $2,982,000 after acquiring an additional 1,674 shares during the last quarter. Finally, Vest Financial LLC acquired a new position in shares of Packaging Co. of America during the first quarter valued at about $3,067,000. 89.78% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have weighed in on PKG shares. Seaport Res Ptn raised shares of Packaging Co. of America from a “hold” rating to a “strong-buy” rating in a research report on Thursday, February 13th. UBS Group initiated coverage on shares of Packaging Co. of America in a report on Wednesday. They set a “neutral” rating and a $200.00 price objective on the stock. Wells Fargo & Company reissued an “equal weight” rating and issued a $180.00 target price (down from $205.00) on shares of Packaging Co. of America in a research report on Friday, May 9th. Truist Financial lowered their price target on Packaging Co. of America from $265.00 to $238.00 and set a “buy” rating for the company in a research report on Tuesday, April 22nd. Finally, Wall Street Zen lowered Packaging Co. of America from a “buy” rating to a “hold” rating in a report on Sunday, April 6th. Four investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $222.17.

Packaging Co. of America Stock Up 0.9%

NYSE:PKG opened at $196.47 on Friday. 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 company’s fifty day moving average price is $188.27 and its 200-day moving average price is $209.77. Packaging Co. of America has a 1-year low of $172.72 and a 1-year high of $250.82. The firm has a market capitalization of $17.68 billion, a P/E ratio of 22.00, a PEG ratio of 2.41 and a beta of 0.84.

Packaging Co. of America (NYSE:PKG) last posted its quarterly earnings results on Tuesday, April 22nd. The industrial products company reported $2.31 EPS for the quarter, beating the consensus estimate of $2.21 by $0.10. The company had revenue of $2.14 billion for the quarter, compared to analyst estimates of $2.12 billion. Packaging Co. of America had a net margin of 9.60% and a return on equity of 19.67%. As a group, equities research analysts anticipate that Packaging Co. of America will post 10.44 EPS for the current year.

Packaging Co. of America Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Friday, June 13th will be given a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a yield of 2.54%. The ex-dividend date is Friday, June 13th. Packaging Co. of America’s dividend payout ratio is currently 52.30%.

About Packaging Co. of America

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.