Packaging Co. of America (NYSE:PKG) Shares Bought by LMG Wealth Partners LLC

LMG Wealth Partners LLC lifted its position in shares of Packaging Co. of America (NYSE:PKG) by 1.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,618 shares of the industrial products company’s stock after acquiring an additional 138 shares during the period. LMG Wealth Partners LLC’s holdings in Packaging Co. of America were worth $2,165,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in PKG. Larson Financial Group LLC increased its stake 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 valued at $35,000 after purchasing an additional 115 shares during the last quarter. Fortitude Family Office LLC grew its position in shares of 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 valued at $37,000 after buying an additional 98 shares during the last quarter. Golden State Wealth Management LLC bought a new stake in shares of Packaging Co. of America during the 4th quarter valued at about $48,000. Assetmark Inc. raised its stake in Packaging Co. of America by 44.6% during the third quarter. Assetmark Inc. now owns 269 shares of the industrial products company’s stock worth $58,000 after acquiring an additional 83 shares during the period. Finally, Brooklyn Investment Group bought a new position in Packaging Co. of America in the third quarter worth about $64,000. 89.78% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, SVP Joseph Vaughn sold 2,300 shares of Packaging Co. of America 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 transaction, the senior vice president now directly owns 9,197 shares in the company, valued at approximately $2,252,253.33. This trade represents a 20.01 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.60% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have recently commented on PKG. Wells Fargo & Company lowered their target price on 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. StockNews.com downgraded Packaging Co. of America from a “buy” rating to a “hold” rating in a research note on Wednesday, January 29th. Truist Financial reiterated a “buy” rating and issued a $265.00 target price (down from $282.00) on shares of Packaging Co. of America in a research note on Thursday, January 30th. Citigroup upped their price target on shares of 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. Finally, Jefferies Financial Group upgraded shares of Packaging Co. of America from a “hold” rating to a “buy” rating and lifted their price objective for the company from $215.00 to $280.00 in a research report on Wednesday, December 18th. Three investment analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Packaging Co. of America presently has an average rating of “Moderate Buy” and a consensus target price of $233.00.

Packaging Co. of America Trading Up 0.0 %

NYSE:PKG opened at $212.24 on Thursday. Packaging Co. of America has a 1 year low of $167.60 and a 1 year high of $250.82. The business has a fifty day moving average of $225.28 and a 200-day moving average of $221.79. 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 stock has a market cap of $19.06 billion, a price-to-earnings ratio of 23.77, a PEG ratio of 2.44 and a beta of 0.77.

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 (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 analysts predict that Packaging Co. of America will post 10.44 earnings per share for the current year.

Packaging Co. of America Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Friday, December 20th were issued a dividend of $1.25 per share. The ex-dividend date was Friday, December 20th. This represents a $5.00 annualized dividend and a yield of 2.36%. Packaging Co. of America’s payout ratio is 55.99%.

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.