Clarus Wealth Advisors Makes New Investment in Packaging Co. of America (NYSE:PKG)

Clarus Wealth Advisors acquired a new position in shares of Packaging Co. of America (NYSE:PKG) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,094 shares of the industrial products company’s stock, valued at approximately $205,000.

Several other hedge funds have also recently bought and sold shares of the stock. Greenfield Savings Bank acquired a new position in Packaging Co. of America during the first quarter worth $211,000. Park Avenue Securities LLC boosted its holdings in Packaging Co. of America by 7.3% in the first quarter. Park Avenue Securities LLC now owns 4,327 shares of the industrial products company’s stock valued at $821,000 after acquiring an additional 293 shares during the last quarter. Wedmont Private Capital boosted its holdings in Packaging Co. of America by 6.5% in the first quarter. Wedmont Private Capital now owns 1,515 shares of the industrial products company’s stock valued at $288,000 after acquiring an additional 93 shares during the last quarter. Perpetual Ltd bought a new position in Packaging Co. of America in the first quarter valued at about $216,000. Finally, Rise Advisors LLC boosted its holdings in Packaging Co. of America by 14.8% in the first quarter. Rise Advisors LLC now owns 1,634 shares of the industrial products company’s stock valued at $310,000 after acquiring an additional 211 shares during the last quarter. 89.78% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Packaging Co. of America

In other news, Director Karen E. Gowland bought 300 shares of the company’s stock in a transaction that occurred on Wednesday, May 15th. The shares were acquired at an average price of $182.06 per share, with a total value of $54,618.00. Following the transaction, the director now owns 916 shares in the company, valued at $166,766.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.60% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on PKG. StockNews.com upgraded Packaging Co. of America from a “hold” rating to a “buy” rating in a report on Tuesday, May 21st. Bank of America raised their target price on Packaging Co. of America from $197.00 to $200.00 and gave the stock a “buy” rating in a report on Monday, June 17th. Wells Fargo & Company upgraded Packaging Co. of America from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $187.00 to $191.00 in a report on Wednesday, April 24th. Citigroup reduced their target price on Packaging Co. of America from $183.00 to $181.00 and set a “neutral” rating on the stock in a report on Thursday, April 25th. Finally, BNP Paribas cut Packaging Co. of America from an “outperform” rating to a “neutral” rating and set a $182.00 target price on the stock. in a report on Friday, April 12th. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $176.29.

Packaging Co. of America Trading Down 1.1 %

NYSE PKG opened at $183.33 on Friday. The firm has a market cap of $16.46 billion, a P/E ratio of 22.92, a P/E/G ratio of 5.02 and a beta of 0.78. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.46 and a quick ratio of 1.74. The stock’s 50-day moving average is $180.46 and its 200-day moving average is $175.66. Packaging Co. of America has a one year low of $127.69 and a one year high of $191.27.

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, topping analysts’ consensus estimates of $1.63 by $0.09. Packaging Co. of America had a return on equity of 18.80% and a net margin of 9.25%. The company had revenue of $1.98 billion for the quarter, compared to analyst estimates of $1.91 billion. During the same quarter last year, the firm posted $2.20 earnings per share. Packaging Co. of America’s revenue was up .2% compared to the same quarter last year. Sell-side analysts anticipate that Packaging Co. of America will post 8.33 earnings per share for the current fiscal year.

Packaging Co. of America Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 14th will be given a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a yield of 2.73%. The ex-dividend date of this dividend is Friday, June 14th. Packaging Co. of America’s dividend payout ratio is presently 62.50%.

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.