Brookstone Capital Management Makes New Investment in Packaging Co. of America (NYSE:PKG)

Brookstone Capital Management acquired a new stake in shares of Packaging Co. of America (NYSE:PKG) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,337 shares of the industrial products company’s stock, valued at approximately $288,000.

A number of other institutional investors also recently modified their holdings of the company. Virtu Financial LLC bought a new stake in shares of Packaging Co. of America during the fourth quarter valued at approximately $539,000. Integrated Advisors Network LLC increased its stake in Packaging Co. of America by 7.1% during the 4th quarter. Integrated Advisors Network LLC now owns 3,209 shares of the industrial products company’s stock valued at $523,000 after purchasing an additional 213 shares in the last quarter. Centaurus Financial Inc. purchased a new position in Packaging Co. of America in the fourth quarter worth about $101,000. Wahed Invest LLC grew its holdings in shares of Packaging Co. of America by 9.4% during the fourth quarter. Wahed Invest LLC now owns 1,521 shares of the industrial products company’s stock valued at $248,000 after buying an additional 131 shares during the last quarter. Finally, PNC Financial Services Group Inc. increased its position in shares of Packaging Co. of America by 2.3% during the fourth quarter. PNC Financial Services Group Inc. now owns 60,703 shares of the industrial products company’s stock valued at $9,889,000 after acquiring an additional 1,392 shares in the last quarter. 89.78% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Packaging Co. of America

In related news, EVP Charles J. Carter sold 5,389 shares of the stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $196.28, for a total transaction of $1,057,752.92. Following the sale, the executive vice president now owns 25,539 shares in the company, valued at approximately $5,012,794.92. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, EVP Charles J. Carter sold 5,389 shares of the company’s stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $196.28, for a total transaction of $1,057,752.92. Following the transaction, the executive vice president now directly owns 25,539 shares in the company, valued at approximately $5,012,794.92. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Donald R. Shirley sold 6,000 shares of the stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $196.28, for a total transaction of $1,177,680.00. Following the completion of the sale, the senior vice president now directly owns 20,772 shares in the company, valued at $4,077,128.16. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.60% of the company’s stock.

Packaging Co. of America Stock Up 0.9 %

Shares of PKG opened at $219.98 on Tuesday. Packaging Co. of America has a 12-month low of $143.82 and a 12-month high of $220.09. The company has a current ratio of 2.43, a quick ratio of 1.71 and a debt-to-equity ratio of 0.60. The company has a market capitalization of $19.75 billion, a PE ratio of 27.50, a price-to-earnings-growth ratio of 4.25 and a beta of 0.77. The business’s 50 day moving average is $207.13 and its 200 day moving average is $192.12.

Packaging Co. of America (NYSE:PKG) last released its quarterly earnings data on Tuesday, July 23rd. The industrial products company reported $2.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.14 by $0.06. The business had revenue of $2.08 billion for the quarter, compared to the consensus estimate of $2.02 billion. Packaging Co. of America had a return on equity of 18.21% and a net margin of 9.06%. The company’s revenue was up 6.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.31 EPS. Research analysts expect that Packaging Co. of America will post 8.73 earnings per share for the current fiscal year.

Packaging Co. of America Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Tuesday, October 15th were paid a $1.25 dividend. This represents a $5.00 annualized dividend and a dividend yield of 2.27%. The ex-dividend date was Monday, September 16th. Packaging Co. of America’s payout ratio is 62.50%.

Analysts Set New Price Targets

PKG has been the subject of several recent analyst reports. StockNews.com cut Packaging Co. of America from a “buy” rating to a “hold” rating in a research note on Saturday, September 28th. Citigroup upped their target price on shares of Packaging Co. of America from $199.00 to $221.00 and gave the company a “neutral” rating in a research note on Wednesday, October 2nd. Wells Fargo & Company boosted their price objective on shares of Packaging Co. of America from $215.00 to $235.00 and gave the company an “overweight” rating in a report on Monday, October 7th. Truist Financial lifted their target price on shares of Packaging Co. of America from $215.00 to $219.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Finally, Bank of America boosted their target price on shares of Packaging Co. of America from $197.00 to $200.00 and gave the company a “buy” rating in a research note on Monday, June 17th. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $199.50.

Packaging Co. of America Profile

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.