Lmcg Investments LLC Sells 4,174 Shares of Packaging Co. of America (NYSE:PKG)

Lmcg Investments LLC reduced its position in Packaging Co. of America (NYSE:PKG) by 6.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 62,705 shares of the industrial products company’s stock after selling 4,174 shares during the period. Lmcg Investments LLC’s holdings in Packaging Co. of America were worth $14,117,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. State Street Corp raised its stake in shares of Packaging Co. of America by 3.2% in the third quarter. State Street Corp now owns 3,948,546 shares of the industrial products company’s stock worth $855,212,000 after purchasing an additional 123,050 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in Packaging Co. of America by 3.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,937,113 shares of the industrial products company’s stock valued at $632,654,000 after buying an additional 98,223 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Packaging Co. of America by 0.6% during the 3rd quarter. Geode Capital Management LLC now owns 2,337,296 shares of the industrial products company’s stock worth $501,896,000 after acquiring an additional 12,936 shares during the last quarter. FMR LLC raised its holdings in shares of Packaging Co. of America by 3.4% in the third quarter. FMR LLC now owns 1,076,350 shares of the industrial products company’s stock valued at $231,846,000 after purchasing an additional 35,827 shares during the last quarter. Finally, Millennium Management LLC lifted its position in shares of Packaging Co. of America by 34.3% during the second quarter. Millennium Management LLC now owns 1,027,585 shares of the industrial products company’s stock valued at $187,596,000 after purchasing an additional 262,315 shares in the last quarter. Institutional investors and hedge funds own 89.78% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on PKG shares. Wells Fargo & Company lifted their target price on shares of Packaging Co. of America from $235.00 to $253.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th. Citigroup boosted their price objective on Packaging Co. of America from $232.00 to $235.00 and gave the stock a “neutral” rating in a research report on Monday, January 6th. StockNews.com raised Packaging Co. of America from a “hold” rating to a “buy” rating in a research report on Tuesday, December 24th. Truist Financial boosted their price target on shares of Packaging Co. of America from $252.00 to $282.00 and gave the stock a “buy” rating in a report on Monday, January 6th. Finally, Jefferies Financial Group upgraded shares of Packaging Co. of America from a “hold” rating to a “buy” rating and increased their price target for the company from $215.00 to $280.00 in a research report on Wednesday, December 18th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Packaging Co. of America currently has a consensus rating of “Moderate Buy” and an average price target of $238.67.

Packaging Co. of America Price Performance

NYSE PKG opened at $237.52 on Tuesday. The firm’s 50-day simple moving average is $235.61 and its two-hundred day simple moving average is $217.56. The company has a market cap of $21.33 billion, a PE ratio of 27.68, a price-to-earnings-growth ratio of 2.34 and a beta of 0.79. Packaging Co. of America has a 52 week low of $159.57 and a 52 week high of $250.82. 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 (NYSE:PKG) last posted its earnings results on Tuesday, October 22nd. The industrial products company reported $2.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.50 by $0.15. The firm had revenue of $2.18 billion for the quarter, compared to the consensus estimate of $2.09 billion. Packaging Co. of America had a return on equity of 19.10% and a net margin of 9.46%. The business’s quarterly revenue was up 14.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.05 earnings per share. Research analysts predict that Packaging Co. of America will post 9.08 earnings per share for the current year.

Packaging Co. of America Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Friday, December 20th were paid a $1.25 dividend. The ex-dividend date was Friday, December 20th. This represents a $5.00 annualized dividend and a yield of 2.11%. Packaging Co. of America’s dividend payout ratio is currently 58.28%.

Insider Buying and Selling at Packaging Co. of America

In other news, Director Paul T. Stecko sold 10,500 shares of the company’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $244.91, for a total value of $2,571,555.00. Following the transaction, the director now owns 8,881 shares of the company’s stock, valued at approximately $2,175,045.71. This represents a 54.18 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Donald R. Shirley sold 8,000 shares of Packaging Co. of America stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $240.20, for a total value of $1,921,600.00. Following the sale, the senior vice president now directly owns 15,725 shares of the company’s stock, valued at $3,777,145. This represents a 33.72 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 33,300 shares of company stock valued at $8,064,152 in the last quarter. 1.70% of the stock is currently owned by corporate insiders.

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.