Carolina Wealth Advisors LLC Sells 583 Shares of Packaging Co. of America (NYSE:PKG)

Carolina Wealth Advisors LLC trimmed its holdings in shares of Packaging Co. of America (NYSE:PKG) by 1.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 34,946 shares of the industrial products company’s stock after selling 583 shares during the period. Packaging Co. of America comprises 4.2% of Carolina Wealth Advisors LLC’s investment portfolio, making the stock its 4th biggest holding. Carolina Wealth Advisors LLC’s holdings in Packaging Co. of America were worth $7,867,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the business. Burney Co. grew its position in Packaging Co. of America by 20.1% during the fourth quarter. Burney Co. now owns 2,728 shares of the industrial products company’s stock worth $614,000 after buying an additional 456 shares during the period. Park Avenue Securities LLC grew its holdings in Packaging Co. of America by 76.1% in the fourth quarter. Park Avenue Securities LLC now owns 7,273 shares of the industrial products company’s stock valued at $1,637,000 after purchasing an additional 3,143 shares during the last quarter. Assenagon Asset Management S.A. increased its position in shares of Packaging Co. of America by 138.3% in the fourth quarter. Assenagon Asset Management S.A. now owns 177,521 shares of the industrial products company’s stock valued at $39,965,000 after buying an additional 103,034 shares in the last quarter. Rockland Trust Co. purchased a new stake in shares of Packaging Co. of America in the 4th quarter worth about $376,000. Finally, Fifth Third Wealth Advisors LLC increased its holdings in Packaging Co. of America by 5.6% during the 4th quarter. Fifth Third Wealth Advisors LLC now owns 1,098 shares of the industrial products company’s stock valued at $247,000 after acquiring an additional 58 shares in the last quarter. 89.78% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Insider Buying and Selling at Packaging Co. of America

In related news, CFO Robert P. Mundy sold 12,500 shares of Packaging Co. of America stock in a transaction on Friday, November 8th. The shares were sold at an average price of $240.62, for a total transaction of $3,007,750.00. Following the transaction, the chief financial officer now owns 43,954 shares in the company, valued at approximately $10,576,211.48. The trade was a 22.14 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Donald R. Shirley sold 8,000 shares of Packaging Co. of America stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $240.20, for a total transaction of $1,921,600.00. Following the sale, the senior vice president now owns 15,725 shares in the company, valued at $3,777,145. This represents a 33.72 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 33,300 shares of company stock valued at $8,064,152 over the last ninety days. Corporate insiders own 1.70% of the company’s stock.

Packaging Co. of America Price Performance

Packaging Co. of America stock opened at $235.49 on Thursday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.98 and a current ratio of 2.95. The company has a market cap of $21.15 billion, a price-to-earnings ratio of 27.45, a PEG ratio of 2.24 and a beta of 0.79. Packaging Co. of America has a 1 year low of $159.57 and a 1 year high of $250.82. The firm has a 50 day moving average price of $235.84 and a 200 day moving average price of $216.08.

Packaging Co. of America (NYSE:PKG) last issued its earnings results on Tuesday, October 22nd. The industrial products company reported $2.65 earnings per share for the quarter, topping the consensus estimate of $2.50 by $0.15. Packaging Co. of America had a return on equity of 19.10% and a net margin of 9.46%. The business had revenue of $2.18 billion for the quarter, compared to analyst estimates of $2.09 billion. During the same period last year, the company posted $2.05 EPS. The business’s quarterly revenue was up 14.9% on a year-over-year basis. Sell-side 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 firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Friday, December 20th were given a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a yield of 2.12%. The ex-dividend date of this dividend was Friday, December 20th. Packaging Co. of America’s dividend payout ratio (DPR) is presently 58.28%.

Packaging Co. of America 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.