Prospera Financial Services Inc Grows Stake in Packaging Co. of America (NYSE:PKG)

Prospera Financial Services Inc increased its stake in Packaging Co. of America (NYSE:PKG) by 2.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,410 shares of the industrial products company’s stock after acquiring an additional 212 shares during the period. Prospera Financial Services Inc’s holdings in Packaging Co. of America were worth $2,029,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. CANADA LIFE ASSURANCE Co grew its position in Packaging Co. of America by 4.6% in the first quarter. CANADA LIFE ASSURANCE Co now owns 70,689 shares of the industrial products company’s stock worth $13,419,000 after acquiring an additional 3,078 shares in the last quarter. Summit Financial Strategies Inc. boosted its position in shares of Packaging Co. of America by 5.5% during the second quarter. Summit Financial Strategies Inc. now owns 234,495 shares of the industrial products company’s stock valued at $42,809,000 after buying an additional 12,129 shares during the period. DekaBank Deutsche Girozentrale boosted its position in shares of Packaging Co. of America by 6.8% during the first quarter. DekaBank Deutsche Girozentrale now owns 224,273 shares of the industrial products company’s stock valued at $41,839,000 after buying an additional 14,277 shares during the period. M&G Plc purchased a new position in shares of Packaging Co. of America during the second quarter valued at approximately $840,000. Finally, Dai ichi Life Insurance Company Ltd boosted its position in shares of Packaging Co. of America by 10.5% during the second quarter. Dai ichi Life Insurance Company Ltd now owns 35,193 shares of the industrial products company’s stock valued at $6,425,000 after buying an additional 3,355 shares during the period. Hedge funds and other institutional investors own 89.78% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on PKG shares. Wells Fargo & Company boosted their target price on Packaging Co. of America from $235.00 to $253.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. Truist Financial restated a “buy” rating and set a $252.00 target price (up previously from $242.00) on shares of Packaging Co. of America in a research report on Thursday, October 24th. StockNews.com lowered Packaging Co. of America from a “buy” rating to a “hold” rating in a research report on Wednesday. Finally, Citigroup boosted their target price on Packaging Co. of America from $199.00 to $221.00 and gave the company a “neutral” rating in a research report on Wednesday, October 2nd. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $221.60.

Packaging Co. of America Stock Up 2.4 %

Shares of NYSE PKG opened at $244.12 on Thursday. 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 has a market capitalization of $21.92 billion, a price-to-earnings ratio of 28.45, a PEG ratio of 3.31 and a beta of 0.76. The stock has a 50 day moving average price of $223.36 and a 200 day moving average price of $201.48. Packaging Co. of America has a 52-week low of $151.74 and a 52-week high of $248.62.

Packaging Co. of America (NYSE:PKG) last announced its quarterly earnings results on Tuesday, October 22nd. The industrial products company reported $2.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.50 by $0.15. The firm had revenue of $2.18 billion during the quarter, compared to analyst estimates of $2.09 billion. Packaging Co. of America had a return on equity of 19.10% and a net margin of 9.46%. Packaging Co. of America’s quarterly revenue was up 14.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.05 earnings per share. Sell-side 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 firm also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Tuesday, October 15th were paid a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a yield of 2.05%. The ex-dividend date of this dividend was Monday, September 16th. Packaging Co. of America’s dividend payout ratio (DPR) is 58.28%.

Insider Buying and Selling

In related news, CFO Robert P. Mundy sold 12,500 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $240.62, for a total value of $3,007,750.00. Following the completion of the transaction, the chief financial officer now owns 43,954 shares of the company’s stock, valued at $10,576,211.48. The trade was a 22.14 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Donald R. Shirley sold 8,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $240.20, for a total transaction of $1,921,600.00. Following the completion of the transaction, the senior vice president now directly owns 15,725 shares of the company’s stock, valued at $3,777,145. This trade represents a 33.72 % decrease in their position. The disclosure for this sale can be found here. 1.70% of the stock is currently owned by insiders.

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.