195 Shares in Packaging Co. of America (NYSE:PKG) Bought by Centricity Wealth Management LLC

Centricity Wealth Management LLC purchased a new stake in Packaging Co. of America (NYSE:PKG) in the fourth quarter, HoldingsChannel.com reports. The fund purchased 195 shares of the industrial products company’s stock, valued at approximately $44,000.

Several other institutional investors and hedge funds have also bought and sold shares of PKG. Creative Planning raised its position in shares of Packaging Co. of America by 3.3% in the 3rd quarter. Creative Planning now owns 16,842 shares of the industrial products company’s stock valued at $3,628,000 after buying an additional 534 shares in the last quarter. Allspring Global Investments Holdings LLC increased its stake in Packaging Co. of America by 23.8% in the third quarter. Allspring Global Investments Holdings LLC now owns 80,906 shares of the industrial products company’s stock valued at $17,427,000 after acquiring an additional 15,536 shares during the last quarter. Eastern Bank acquired a new position in Packaging Co. of America during the third quarter valued at approximately $108,000. International Assets Investment Management LLC lifted its stake in Packaging Co. of America by 41,151.7% during the third quarter. International Assets Investment Management LLC now owns 155,519 shares of the industrial products company’s stock worth $33,499,000 after purchasing an additional 155,142 shares during the last quarter. Finally, Hennion & Walsh Asset Management Inc. boosted its holdings in shares of Packaging Co. of America by 8.0% in the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 16,349 shares of the industrial products company’s stock valued at $3,522,000 after purchasing an additional 1,212 shares in the last quarter. Institutional investors own 89.78% of the company’s stock.

Insider Buying and Selling

In other Packaging Co. of America news, SVP Joseph Vaughn sold 2,300 shares of Packaging Co. of America stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $244.89, for a total transaction 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. The trade was a 20.01 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.60% of the stock is currently owned by insiders.

Packaging Co. of America Stock Performance

Shares of PKG stock opened at $208.19 on Friday. The firm has a market capitalization of $18.70 billion, a price-to-earnings ratio of 23.31, a PEG ratio of 2.44 and a beta of 0.77. The company has a current ratio of 2.95, a quick ratio of 1.98 and a debt-to-equity ratio of 0.58. The business’s 50-day moving average price is $224.09 and its 200-day moving average price is $221.82. Packaging Co. of America has a 12 month low of $169.00 and a 12 month high of $250.82.

Packaging Co. of America (NYSE:PKG) last issued its quarterly earnings data on Tuesday, January 28th. The industrial products company reported $2.47 earnings per share (EPS) 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%. Equities research analysts forecast that Packaging Co. of America will post 10.44 EPS for the current year.

Packaging Co. of America Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Investors 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 dividend yield of 2.40%. Packaging Co. of America’s dividend payout ratio is 55.99%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on PKG shares. Citigroup boosted their price target 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. Truist Financial reissued a “buy” rating and set a $265.00 target price (down previously from $282.00) on shares of Packaging Co. of America in a research note on Thursday, January 30th. Seaport Res Ptn raised shares of Packaging Co. of America from a “hold” rating to a “strong-buy” rating in a report on Thursday, February 13th. StockNews.com lowered shares of Packaging Co. of America from a “buy” rating to a “hold” rating in a report on Wednesday, January 29th. Finally, Wells Fargo & Company dropped 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 research note on Thursday, January 30th. Three analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Packaging Co. of America has an average rating of “Moderate Buy” and an average target price of $233.00.

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.