Packaging Co. of America (NYSE:PKG) Shares Sold by Captrust Financial Advisors

Captrust Financial Advisors decreased its holdings in shares of Packaging Co. of America (NYSE:PKG) by 1.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 19,316 shares of the industrial products company’s stock after selling 315 shares during the period. Captrust Financial Advisors’ holdings in Packaging Co. of America were worth $4,349,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Fortitude Family Office LLC grew its holdings in Packaging Co. of America by 150.8% during the fourth quarter. Fortitude Family Office LLC now owns 163 shares of the industrial products company’s stock worth $37,000 after acquiring an additional 98 shares during the period. Centricity Wealth Management LLC purchased a new stake in shares of Packaging Co. of America during the 4th quarter worth $44,000. Golden State Wealth Management LLC acquired a new position in shares of Packaging Co. of America during the 4th quarter worth $48,000. Rialto Wealth Management LLC purchased a new position in shares of Packaging Co. of America in the 4th quarter valued at about $63,000. Finally, Intact Investment Management Inc. acquired a new stake in shares of Packaging Co. of America in the fourth quarter valued at about $68,000. 89.78% of the stock is owned by hedge funds and other institutional investors.

Packaging Co. of America Stock Performance

NYSE PKG opened at $181.42 on Friday. 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 fifty-two week low of $172.72 and a fifty-two week high of $250.82. The business has a fifty day moving average of $190.72 and a 200-day moving average of $215.69. The stock has a market cap of $16.31 billion, a price-to-earnings ratio of 20.32, a price-to-earnings-growth ratio of 2.41 and a beta of 0.85.

Packaging Co. of America (NYSE:PKG) last released its earnings results on Tuesday, April 22nd. The industrial products company reported $2.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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, analysts predict that Packaging Co. of America will post 10.44 earnings per share for the current fiscal year.

Packaging Co. of America Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Friday, June 13th will be paid a $1.25 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $5.00 annualized dividend and a yield of 2.76%. Packaging Co. of America’s payout ratio is currently 52.30%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on PKG. Seaport Res Ptn upgraded shares of Packaging Co. of America from a “hold” rating to a “strong-buy” rating in a research report on Thursday, February 13th. Truist Financial reduced their price objective on Packaging Co. of America from $265.00 to $238.00 and set a “buy” rating for the company in a report on Tuesday, April 22nd. Wells Fargo & Company reissued an “equal weight” rating and issued a $180.00 target price (down previously from $205.00) on shares of Packaging Co. of America in a report on Friday. Finally, StockNews.com downgraded Packaging Co. of America from a “buy” rating to a “hold” rating in a research note on Sunday, April 6th. Three research analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Packaging Co. of America has an average rating of “Moderate Buy” and an average price target of $226.60.

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.