Packaging Co. of America (NYSE:PKG) Shares Sold by Captrust Financial Advisors

Captrust Financial Advisors decreased its position in Packaging Co. of America (NYSE:PKG) by 1.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 19,316 shares of the industrial products company’s stock after selling 315 shares during the quarter. Captrust Financial Advisors’ holdings in Packaging Co. of America were worth $4,349,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Fortitude Family Office LLC increased its position in shares of 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 valued at $37,000 after purchasing an additional 98 shares during the last quarter. Centricity Wealth Management LLC purchased a new position in Packaging Co. of America in the fourth quarter valued at $44,000. Golden State Wealth Management LLC acquired a new stake in Packaging Co. of America in the fourth quarter valued at $48,000. Rialto Wealth Management LLC purchased a new stake in Packaging Co. of America during the 4th quarter worth about $63,000. Finally, Intact Investment Management Inc. purchased a new stake in Packaging Co. of America during the 4th quarter worth about $68,000. Hedge funds and other institutional investors own 89.78% of the company’s stock.

Packaging Co. of America Stock Down 1.1 %

Shares of NYSE:PKG opened at $181.42 on Friday. Packaging Co. of America has a 1-year low of $172.72 and a 1-year high of $250.82. 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 stock has a market cap of $16.31 billion, a P/E ratio of 20.32, a P/E/G ratio of 2.41 and a beta of 0.85. The firm has a fifty day moving average price of $190.72 and a 200 day moving average price of $215.69.

Packaging Co. of America (NYSE:PKG) last released its quarterly earnings results on Tuesday, April 22nd. The industrial products company reported $2.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.21 by $0.10. The firm had revenue of $2.14 billion for the quarter, compared to analyst estimates of $2.12 billion. Packaging Co. of America had a return on equity of 19.67% and a net margin of 9.60%. Sell-side analysts predict that Packaging Co. of America will post 10.44 EPS for the current year.

Packaging Co. of America Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Friday, June 13th will be issued a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a dividend yield of 2.76%. The ex-dividend date is Friday, June 13th. Packaging Co. of America’s dividend payout ratio is presently 52.30%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Wells Fargo & Company reissued an “equal weight” rating and set a $180.00 target price (down previously from $205.00) on shares of Packaging Co. of America in a research report on Friday. Truist Financial lowered their target price on shares of Packaging Co. of America from $265.00 to $238.00 and set a “buy” rating for the company in a report on Tuesday, April 22nd. Seaport Res Ptn upgraded shares of Packaging Co. of America from a “hold” rating to a “strong-buy” rating in a research note on Thursday, February 13th. Finally, StockNews.com downgraded shares of Packaging Co. of America from a “buy” rating to a “hold” rating in a research note on Sunday, April 6th. Three analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $226.60.

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.