Naples Global Advisors LLC Decreases Stake in Packaging Co. of America (NYSE:PKG)

Naples Global Advisors LLC lowered its stake in Packaging Co. of America (NYSE:PKG) by 1.2% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 43,615 shares of the industrial products company’s stock after selling 509 shares during the quarter. Packaging Co. of America accounts for 0.9% of Naples Global Advisors LLC’s portfolio, making the stock its 14th biggest position. Naples Global Advisors LLC’s holdings in Packaging Co. of America were worth $9,873,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently made changes to their positions in PKG. Larson Financial Group LLC grew its stake in shares of 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 worth $35,000 after purchasing an additional 115 shares during the last quarter. Fortitude Family Office LLC lifted its holdings in Packaging Co. of America by 150.8% in the 4th quarter. Fortitude Family Office LLC now owns 163 shares of the industrial products company’s stock worth $37,000 after buying an additional 98 shares during the period. Golden State Wealth Management LLC purchased a new stake in Packaging Co. of America in the 4th quarter worth approximately $48,000. Assetmark Inc. grew its position in shares of Packaging Co. of America by 44.6% in the 3rd quarter. Assetmark Inc. now owns 269 shares of the industrial products company’s stock worth $58,000 after buying an additional 83 shares during the last quarter. Finally, Brooklyn Investment Group purchased a new position in shares of Packaging Co. of America during the third quarter valued at approximately $64,000. Hedge funds and other institutional investors own 89.78% of the company’s stock.

Analyst Ratings Changes

Several analysts recently weighed in on PKG shares. Truist Financial reiterated a “buy” rating and issued a $265.00 price target (down previously from $282.00) on shares of Packaging Co. of America in a report on Thursday, January 30th. StockNews.com lowered shares of Packaging Co. of America from a “buy” rating to a “hold” rating in a research note on Wednesday, January 29th. Jefferies Financial Group upgraded shares of Packaging Co. of America from a “hold” rating to a “buy” rating and boosted their price target for the company from $215.00 to $280.00 in a research report on Wednesday, December 18th. Wells Fargo & Company lowered their price objective on shares of Packaging Co. of America from $253.00 to $236.00 and set an “overweight” rating for the company in a report on Thursday, January 30th. Finally, Citigroup upped their target price on Packaging Co. of America from $232.00 to $235.00 and gave the stock a “neutral” rating in a report on Monday, January 6th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $233.00.

Packaging Co. of America Stock Down 1.8 %

Shares of Packaging Co. of America stock opened at $204.50 on Thursday. Packaging Co. of America has a 1 year low of $163.68 and a 1 year high of $250.82. The firm has a market cap of $18.37 billion, a price-to-earnings ratio of 22.90, a PEG ratio of 2.40 and a beta of 0.77. The company has a 50-day moving average of $228.12 and a 200 day moving average of $221.30. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.95 and a quick ratio of 1.98.

Packaging Co. of America (NYSE:PKG) last announced its earnings results on Tuesday, January 28th. The industrial products company reported $2.47 earnings per share for the quarter, missing analysts’ consensus estimates of $2.51 by ($0.04). Packaging Co. of America had a net margin of 9.60% and a return on equity of 19.67%. As a group, sell-side analysts anticipate that Packaging Co. of America will post 10.6 earnings per share for the current fiscal year.

Packaging Co. of America Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Friday, December 20th were paid a $1.25 dividend. The ex-dividend date of this dividend was Friday, December 20th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.44%. Packaging Co. of America’s dividend payout ratio is currently 55.99%.

Insider Activity

In related news, SVP Joseph Vaughn sold 2,300 shares of the company’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $244.89, for a total value of $563,247.00. Following the transaction, the senior vice president now directly owns 9,197 shares of the company’s stock, valued at approximately $2,252,253.33. This represents a 20.01 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Paul T. Stecko sold 10,500 shares of Packaging Co. of America stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $244.91, for a total value of $2,571,555.00. Following the completion of the sale, the director now directly owns 8,881 shares of the company’s stock, valued at approximately $2,175,045.71. The trade was a 54.18 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.60% of the company’s stock.

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.