Packaging Co. of America (NYSE:PKG) Shares Sold by Brookstone Capital Management

Brookstone Capital Management decreased its holdings in shares of Packaging Co. of America (NYSE:PKG) by 5.7% during the 1st quarter, HoldingsChannel.com reports. The firm owned 5,562 shares of the industrial products company’s stock after selling 339 shares during the period. Brookstone Capital Management’s holdings in Packaging Co. of America were worth $1,056,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Louisiana State Employees Retirement System acquired a new position in Packaging Co. of America during the 4th quarter worth approximately $880,000. International Assets Investment Management LLC increased its position in Packaging Co. of America by 19,323.7% during the 4th quarter. International Assets Investment Management LLC now owns 30,301 shares of the industrial products company’s stock worth $4,936,000 after purchasing an additional 30,145 shares during the period. Cim LLC acquired a new stake in shares of Packaging Co. of America in the 4th quarter worth approximately $2,003,000. AXS Investments LLC acquired a new stake in shares of Packaging Co. of America in the 4th quarter worth approximately $766,000. Finally, AEGON ASSET MANAGEMENT UK Plc acquired a new stake in shares of Packaging Co. of America in the 4th quarter worth approximately $16,338,000. Institutional investors and hedge funds own 89.78% of the company’s stock.

Packaging Co. of America Price Performance

PKG stock opened at $182.56 on Friday. Packaging Co. of America has a 1 year low of $127.69 and a 1 year high of $191.39. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.74 and a current ratio of 2.46. The stock’s 50 day moving average price is $181.12 and its 200 day moving average price is $176.43. The firm has a market cap of $16.39 billion, a P/E ratio of 22.82, a PEG ratio of 4.96 and a beta of 0.78.

Packaging Co. of America (NYSE:PKG) last issued its quarterly earnings results on Tuesday, April 23rd. The industrial products company reported $1.72 earnings per share 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 in the prior year, the company posted $2.20 EPS. The business’s revenue for the quarter was up .2% compared to the same quarter last year. On average, sell-side analysts expect that Packaging Co. of America will post 8.33 earnings per share for the current fiscal year.

Packaging Co. of America Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 14th will be paid a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.74%. The ex-dividend date of this dividend is Friday, June 14th. Packaging Co. of America’s dividend payout ratio is presently 62.50%.

Analyst Upgrades and Downgrades

PKG has been the topic of a number of research reports. Wells Fargo & Company upgraded Packaging Co. of America from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $187.00 to $191.00 in a report on Wednesday, April 24th. Truist Financial upped their price target on Packaging Co. of America from $191.00 to $208.00 and gave the stock a “buy” rating in a report on Thursday, May 30th. Bank of America upped their price target 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. Citigroup lowered their price target 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 lowered Packaging Co. of America from an “outperform” rating to a “neutral” rating and set a $182.00 target price on the stock. in a research note on Friday, April 12th. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $176.29.

Insiders Place Their Bets

In other Packaging Co. of America news, Director Karen E. Gowland purchased 300 shares of Packaging Co. of America stock in a transaction on Wednesday, May 15th. The shares were bought at an average price of $182.06 per share, with a total value of $54,618.00. Following the purchase, the director now directly owns 916 shares in the company, valued at approximately $166,766.96. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 1.60% of the company’s stock.

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.