Pathstone Holdings LLC Cuts Stock Position in Packaging Co. of America (NYSE:PKG)

Pathstone Holdings LLC trimmed its position in shares of Packaging Co. of America (NYSE:PKG) by 1.0% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 17,262 shares of the industrial products company’s stock after selling 176 shares during the quarter. Pathstone Holdings LLC’s holdings in Packaging Co. of America were worth $3,723,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Quest Partners LLC grew its stake in shares of Packaging Co. of America by 256.3% in the third quarter. Quest Partners LLC now owns 7,729 shares of the industrial products company’s stock worth $1,665,000 after acquiring an additional 5,560 shares in the last quarter. Swiss National Bank boosted its holdings in Packaging Co. of America by 0.5% in the third quarter. Swiss National Bank now owns 266,500 shares of the industrial products company’s stock valued at $57,404,000 after purchasing an additional 1,200 shares during the period. River Street Advisors LLC increased its holdings in Packaging Co. of America by 6.8% during the 3rd quarter. River Street Advisors LLC now owns 5,244 shares of the industrial products company’s stock worth $1,130,000 after purchasing an additional 336 shares during the period. Mizuho Securities USA LLC increased its holdings in Packaging Co. of America by 1,800.2% during the 3rd quarter. Mizuho Securities USA LLC now owns 130,583 shares of the industrial products company’s stock worth $28,128,000 after purchasing an additional 123,711 shares during the period. Finally, Seelaus Asset Management LLC boosted its stake in shares of Packaging Co. of America by 2.0% in the 3rd quarter. Seelaus Asset Management LLC now owns 4,780 shares of the industrial products company’s stock valued at $1,030,000 after buying an additional 95 shares during the period. 89.78% of the stock is owned by institutional investors and hedge funds.

Packaging Co. of America Trading Up 0.4 %

NYSE PKG opened at $246.39 on Monday. The firm’s fifty day moving average price is $224.82 and its 200 day moving average price is $202.61. Packaging Co. of America has a 12 month low of $153.58 and a 12 month high of $248.62. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.95 and a quick ratio of 1.98. The company has a market capitalization of $22.13 billion, a price-to-earnings ratio of 28.72, a price-to-earnings-growth ratio of 3.44 and a beta of 0.76.

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

Packaging Co. of America Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Tuesday, October 15th were issued a $1.25 dividend. This represents a $5.00 annualized dividend and a dividend yield of 2.03%. The ex-dividend date of this dividend was Monday, September 16th. Packaging Co. of America’s payout ratio is currently 58.28%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. StockNews.com cut shares of Packaging Co. of America from a “buy” rating to a “hold” rating in a report on Wednesday, November 20th. Truist Financial restated a “buy” rating and issued a $252.00 price objective (up from $242.00) on shares of Packaging Co. of America in a report on Thursday, October 24th. Citigroup boosted their target price on shares of Packaging Co. of America from $199.00 to $221.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 2nd. Finally, Wells Fargo & Company raised 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. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $221.60.

Insider Transactions at Packaging Co. of America

In related news, SVP Donald R. Shirley sold 8,000 shares of the firm’s stock in a transaction dated 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 transaction, the senior vice president now owns 15,725 shares of the company’s stock, valued at $3,777,145. This trade represents a 33.72 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Robert P. Mundy sold 12,500 shares of the company’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 sale, the chief financial officer now directly owns 43,954 shares of the company’s stock, valued at approximately $10,576,211.48. This represents a 22.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 31,000 shares of company stock worth $7,500,905. Insiders own 1.60% of the company’s stock.

Packaging Co. of America Company 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.