Capital Investment Advisors LLC Sells 350 Shares of Packaging Co. of America (NYSE:PKG)

Capital Investment Advisors LLC cut its stake in shares of Packaging Co. of America (NYSE:PKG) by 7.7% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,203 shares of the industrial products company’s stock after selling 350 shares during the quarter. Capital Investment Advisors LLC’s holdings in Packaging Co. of America were worth $905,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of PKG. Victory Capital Management Inc. grew its holdings in shares of Packaging Co. of America by 1.5% in the second quarter. Victory Capital Management Inc. now owns 2,853,417 shares of the industrial products company’s stock worth $520,920,000 after acquiring an additional 41,903 shares during the period. Boston Partners raised its holdings in Packaging Co. of America by 49.3% in the 1st quarter. Boston Partners now owns 1,446,303 shares of the industrial products company’s stock worth $274,421,000 after purchasing an additional 477,487 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Packaging Co. of America by 8.1% in the second quarter. Dimensional Fund Advisors LP now owns 1,153,732 shares of the industrial products company’s stock worth $210,636,000 after buying an additional 86,005 shares during the period. Millennium Management LLC lifted its position in shares of Packaging Co. of America by 34.3% during the 2nd quarter. Millennium Management LLC now owns 1,027,585 shares of the industrial products company’s stock valued at $187,596,000 after buying an additional 262,315 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its stake in shares of Packaging Co. of America by 5.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 869,341 shares of the industrial products company’s stock valued at $164,985,000 after acquiring an additional 42,465 shares during the period. 89.78% of the stock is currently owned by institutional investors.

Packaging Co. of America Stock Performance

Packaging Co. of America stock opened at $220.12 on Monday. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.43 and a quick ratio of 1.71. The firm has a market capitalization of $19.77 billion, a P/E ratio of 27.62, a price-to-earnings-growth ratio of 4.32 and a beta of 0.77. Packaging Co. of America has a 1-year low of $143.82 and a 1-year high of $222.98. The company’s 50-day moving average is $209.17 and its 200 day moving average is $192.99.

Packaging Co. of America (NYSE:PKG) last issued its earnings results on Tuesday, July 23rd. The industrial products company reported $2.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.14 by $0.06. The firm had revenue of $2.08 billion during the quarter, compared to analyst estimates of $2.02 billion. Packaging Co. of America had a net margin of 9.06% and a return on equity of 18.21%. The business’s revenue was up 6.3% on a year-over-year basis. During the same period in the previous year, the firm earned $2.31 earnings per share. Research analysts forecast that Packaging Co. of America will post 8.73 EPS for the current year.

Packaging Co. of America Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Tuesday, October 15th were given a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.27%. The ex-dividend date of this dividend was Monday, September 16th. Packaging Co. of America’s payout ratio is 62.74%.

Insiders Place Their Bets

In related news, EVP Charles J. Carter sold 5,389 shares of Packaging Co. of America stock in a transaction that occurred on 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 of the company’s stock, valued at $5,012,794.92. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, SVP Donald R. Shirley sold 6,000 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 $1,177,680.00. Following the completion of the sale, the senior vice president now owns 20,772 shares in the company, valued at approximately $4,077,128.16. 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, EVP Charles J. Carter sold 5,389 shares of the stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $196.28, for a total value of $1,057,752.92. Following the completion of the sale, the executive vice president now owns 25,539 shares of the company’s stock, valued at approximately $5,012,794.92. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.70% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on PKG. Wells Fargo & Company boosted their price objective on Packaging Co. of America from $215.00 to $235.00 and gave the company an “overweight” rating in a research report on Monday, October 7th. Truist Financial raised their price objective on Packaging Co. of America from $219.00 to $242.00 and gave the company a “buy” rating in a research report on Tuesday, October 15th. StockNews.com lowered Packaging Co. of America from a “buy” rating to a “hold” rating in a research note on Saturday, September 28th. Finally, Citigroup upped their price objective on Packaging Co. of America from $199.00 to $221.00 and gave the stock a “neutral” rating in a report on Wednesday, October 2nd. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, Packaging Co. of America has an average rating of “Hold” and an average price target of $216.00.

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.