Crossmark Global Holdings Inc. Sells 119 Shares of Packaging Co. of America (NYSE:PKG)

Crossmark Global Holdings Inc. trimmed its position in shares of Packaging Co. of America (NYSE:PKG) by 1.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,516 shares of the industrial products company’s stock after selling 119 shares during the period. Crossmark Global Holdings Inc.’s holdings in Packaging Co. of America were worth $1,403,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of PKG. Sigma Planning Corp acquired a new position in Packaging Co. of America during the 3rd quarter worth about $541,000. Atria Investments Inc increased its stake in Packaging Co. of America by 2.7% in the third quarter. Atria Investments Inc now owns 12,145 shares of the industrial products company’s stock valued at $2,616,000 after purchasing an additional 321 shares in the last quarter. Carmel Capital Partners LLC lifted its holdings in Packaging Co. of America by 6.1% during the third quarter. Carmel Capital Partners LLC now owns 1,642 shares of the industrial products company’s stock worth $354,000 after acquiring an additional 95 shares in the last quarter. Assetmark Inc. grew its position in shares of Packaging Co. of America by 44.6% in the 3rd quarter. Assetmark Inc. now owns 269 shares of the industrial products company’s stock valued at $58,000 after purchasing an additional 83 shares during the period. Finally, CWA Asset Management Group LLC acquired a new stake in Packaging Co. of America during the 3rd quarter worth approximately $515,000. Institutional investors own 89.78% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on PKG shares. Citigroup upped their price target on Packaging Co. of America from $199.00 to $221.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 2nd. Truist Financial reiterated a “buy” rating and issued a $252.00 price target (up previously from $242.00) on shares of Packaging Co. of America in a research note on Thursday, October 24th. StockNews.com upgraded shares of Packaging Co. of America from a “hold” rating to a “buy” rating in a research note on Tuesday. Finally, Wells Fargo & Company increased their price target on Packaging Co. of America from $235.00 to $253.00 and gave the company an “overweight” rating in a research note on Thursday, October 24th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $221.60.

Packaging Co. of America Trading Down 0.6 %

NYSE:PKG opened at $238.34 on Thursday. The firm has a market cap of $21.41 billion, a P/E ratio of 27.78, a P/E/G ratio of 3.37 and a beta of 0.76. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.98 and a current ratio of 2.95. The firm’s fifty day moving average is $219.92 and its 200-day moving average is $199.27. Packaging Co. of America has a 52 week low of $148.50 and a 52 week high of $245.00.

Packaging Co. of America (NYSE:PKG) last issued its earnings results on Tuesday, October 22nd. The industrial products company reported $2.65 EPS for the quarter, beating the consensus estimate of $2.50 by $0.15. The company had revenue of $2.18 billion during the quarter, compared to the consensus estimate of $2.09 billion. Packaging Co. of America had a return on equity of 19.10% and a net margin of 9.46%. The firm’s revenue for the quarter was up 14.9% compared to the same quarter last year. During the same period last year, the business posted $2.05 EPS. Equities analysts expect that Packaging Co. of America will post 9.07 earnings per share for the current year.

Packaging Co. of America Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Tuesday, October 15th were issued a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.10%. The ex-dividend date of this dividend was Monday, September 16th. Packaging Co. of America’s dividend payout ratio is currently 58.28%.

Insider Activity at Packaging Co. of America

In other Packaging Co. of America news, CFO Robert P. Mundy sold 12,500 shares of the company’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $240.62, for a total transaction of $3,007,750.00. Following the transaction, the chief financial officer now owns 43,954 shares in the company, valued at approximately $10,576,211.48. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 1.60% of the stock is currently owned by insiders.

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.