Washburn Capital Management Inc. Purchases New Position in Packaging Co. of America (NYSE:PKG)

Washburn Capital Management Inc. acquired a new position in shares of Packaging Co. of America (NYSE:PKG) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 1,135 shares of the industrial products company’s stock, valued at approximately $256,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Larson Financial Group LLC grew its holdings in Packaging Co. of America by 234.7% during the third quarter. Larson Financial Group LLC now owns 164 shares of the industrial products company’s stock worth $35,000 after buying an additional 115 shares in the last quarter. Fortitude Family Office LLC boosted its holdings in Packaging Co. of America by 150.8% during the 4th 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 last quarter. Golden State Wealth Management LLC bought a new stake in shares of Packaging Co. of America in the 4th quarter worth $48,000. Assetmark Inc. raised its holdings in shares of Packaging Co. of America by 44.6% in the third quarter. Assetmark Inc. now owns 269 shares of the industrial products company’s stock valued at $58,000 after purchasing an additional 83 shares during the last quarter. Finally, Brooklyn Investment Group bought a new position in shares of Packaging Co. of America during the third quarter valued at about $64,000. 89.78% of the stock is owned by hedge funds and other institutional investors.

Packaging Co. of America Stock Performance

Shares of PKG opened at $210.03 on Friday. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.95 and a quick ratio of 1.98. The firm has a market cap of $18.86 billion, a PE ratio of 23.52, a PEG ratio of 2.40 and a beta of 0.77. Packaging Co. of America has a 1 year low of $163.68 and a 1 year high of $250.82. The stock’s fifty day moving average price is $230.33 and its two-hundred day moving average price is $221.05.

Packaging Co. of America (NYSE:PKG) last released its quarterly earnings data on Tuesday, January 28th. The industrial products company reported $2.47 EPS for the quarter, missing the consensus estimate 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%. On average, equities research analysts forecast that Packaging Co. of America will post 10.6 EPS for the current year.

Packaging Co. of America Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Friday, December 20th were issued a dividend of $1.25 per share. The ex-dividend date of this dividend was Friday, December 20th. This represents a $5.00 dividend on an annualized basis and a yield of 2.38%. Packaging Co. of America’s payout ratio is 55.99%.

Insiders Place Their Bets

In related news, SVP Joseph Vaughn sold 2,300 shares of the business’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $244.89, for a total transaction of $563,247.00. Following the sale, the senior vice president now directly owns 9,197 shares in the company, valued at approximately $2,252,253.33. The trade was a 20.01 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Donald R. Shirley sold 8,000 shares of the firm’s stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $240.20, for a total value of $1,921,600.00. Following the completion of the transaction, the senior vice president now owns 15,725 shares of the company’s stock, valued at approximately $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 20,800 shares of company stock worth $5,056,402 over the last 90 days. Corporate insiders own 1.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Wells Fargo & Company decreased 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. Citigroup increased their price target on 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. StockNews.com cut Packaging Co. of America from a “buy” rating to a “hold” rating in a research report on Wednesday, January 29th. Jefferies Financial Group raised Packaging Co. of America from a “hold” rating to a “buy” rating and raised their target price for the company from $215.00 to $280.00 in a research report on Wednesday, December 18th. Finally, Truist Financial reissued a “buy” rating and issued a $265.00 price target (down from $282.00) on shares of Packaging Co. of America in a report on Thursday, January 30th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, Packaging Co. of America has a consensus rating of “Moderate Buy” and a consensus price target of $233.00.

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.