Packaging Co. of America (NYSE:PKG) Shares Sold by Nilsine Partners LLC

Nilsine Partners LLC lowered its holdings in Packaging Co. of America (NYSE:PKG) by 10.6% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,249 shares of the industrial products company’s stock after selling 148 shares during the period. Nilsine Partners LLC’s holdings in Packaging Co. of America were worth $237,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Annis Gardner Whiting Capital Advisors LLC acquired a new position in shares of Packaging Co. of America in the third quarter valued at approximately $25,000. Register Financial Advisors LLC acquired a new position in Packaging Co. of America during the 1st quarter worth approximately $25,000. Neo Ivy Capital Management acquired a new position in Packaging Co. of America during the 4th quarter worth approximately $28,000. First Horizon Advisors Inc. grew its holdings in Packaging Co. of America by 60.5% during the 4th quarter. First Horizon Advisors Inc. now owns 183 shares of the industrial products company’s stock worth $30,000 after acquiring an additional 69 shares in the last quarter. Finally, Gables Capital Management Inc. acquired a new position in Packaging Co. of America during the 4th quarter worth approximately $31,000. Institutional investors and hedge funds own 89.78% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on PKG shares. Bank of America upgraded shares of Packaging Co. of America from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $172.00 to $202.00 in a report on Monday, March 4th. Citigroup lowered their price target on shares of Packaging Co. of America from $183.00 to $181.00 and set a “neutral” rating for the company in a report on Thursday, April 25th. BNP Paribas cut shares of Packaging Co. of America from an “outperform” rating to a “neutral” rating and set a $182.00 price target for the company. in a report on Friday, April 12th. Wells Fargo & Company upgraded shares of Packaging Co. of America from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $187.00 to $191.00 in a report on Wednesday, April 24th. Finally, Truist Financial boosted their price objective on shares of Packaging Co. of America from $170.00 to $187.00 and gave the stock a “buy” rating in a research report on Thursday, January 4th. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $173.57.

Packaging Co. of America Stock Down 2.3 %

Shares of NYSE:PKG traded down $4.07 during trading on Tuesday, hitting $172.98. 444,172 shares of the company were exchanged, compared to its average volume of 696,576. The stock has a market capitalization of $15.52 billion, a P/E ratio of 21.62, a PEG ratio of 4.21 and a beta of 0.78. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.57 and a quick ratio of 1.77. Packaging Co. of America has a 12-month low of $122.20 and a 12-month high of $191.27. The firm’s 50 day moving average price is $182.10 and its 200-day moving average price is $168.58.

Packaging Co. of America (NYSE:PKG) last released its quarterly earnings results on Tuesday, April 23rd. The industrial products company reported $1.72 EPS for the quarter, beating the consensus estimate of $1.63 by $0.09. Packaging Co. of America had a net margin of 9.25% and a return on equity of 18.94%. The firm had revenue of $1.98 billion during the quarter, compared to the consensus estimate of $1.91 billion. During the same quarter in the prior year, the firm earned $2.20 EPS. Packaging Co. of America’s revenue for the quarter was up .2% on a year-over-year basis. On average, research analysts predict that Packaging Co. of America will post 8.2 earnings per share for the current fiscal year.

Packaging Co. of America Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 15th were given a $1.25 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $5.00 annualized dividend and a yield of 2.89%. Packaging Co. of America’s dividend payout ratio (DPR) is 62.50%.

Insider Activity at Packaging Co. of America

In related news, VP Thomas A. Hassfurther sold 13,850 shares of the company’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $181.06, for a total value of $2,507,681.00. Following the completion of the sale, the vice president now owns 187,647 shares in the company, valued at approximately $33,975,365.82. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Packaging Co. of America news, VP Thomas A. Hassfurther sold 14,191 shares of the company’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $173.80, for a total transaction of $2,466,395.80. Following the completion of the transaction, the vice president now owns 183,930 shares in the company, valued at approximately $31,967,034. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Thomas A. Hassfurther sold 13,850 shares of the company’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $181.06, for a total transaction of $2,507,681.00. Following the transaction, the vice president now owns 187,647 shares of the company’s stock, valued at approximately $33,975,365.82. The disclosure for this sale can be found here. Insiders sold a total of 38,041 shares of company stock worth $6,799,177 in the last 90 days. 1.70% of the stock is owned by insiders.

About Packaging Co. of America

Packaging Corporation of America manufactures and sells containerboard and corrugated packaging products in the United States. The company operates through three segments: Packaging, Paper, and Corporate and Other. The Packaging segment offers various containerboard and corrugated packaging products, such as conventional shipping containers used to protect and transport manufactured goods; multi-color boxes and displays that help to merchandise the packaged product in retail locations; and honeycomb protective packaging products, as well as packaging for meat, fresh fruit and vegetables, processed food, beverages, and other industrial and consumer products.