Blue Trust Inc. Buys 1,344 Shares of Packaging Co. of America (NYSE:PKG)

Blue Trust Inc. lifted its stake in shares of Packaging Co. of America (NYSE:PKG) by 45.5% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 4,298 shares of the industrial products company’s stock after acquiring an additional 1,344 shares during the quarter. Blue Trust Inc.’s holdings in Packaging Co. of America were worth $926,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in the stock. Coldstream Capital Management Inc. boosted its stake in shares of Packaging Co. of America by 1.4% during the 2nd quarter. Coldstream Capital Management Inc. now owns 3,859 shares of the industrial products company’s stock worth $704,000 after acquiring an additional 54 shares in the last quarter. Daiwa Securities Group Inc. lifted its position in shares of Packaging Co. of America by 0.6% during the 2nd quarter. Daiwa Securities Group Inc. now owns 9,713 shares of the industrial products company’s stock worth $1,773,000 after purchasing an additional 56 shares during the last quarter. Moors & Cabot Inc. lifted its position in shares of Packaging Co. of America by 2.1% during the 2nd quarter. Moors & Cabot Inc. now owns 2,689 shares of the industrial products company’s stock worth $491,000 after purchasing an additional 56 shares during the last quarter. Evergreen Capital Management LLC lifted its position in shares of Packaging Co. of America by 2.4% during the 2nd quarter. Evergreen Capital Management LLC now owns 2,461 shares of the industrial products company’s stock worth $452,000 after purchasing an additional 57 shares during the last quarter. Finally, Tokio Marine Asset Management Co. Ltd. lifted its position in shares of Packaging Co. of America by 2.8% during the 1st quarter. Tokio Marine Asset Management Co. Ltd. now owns 2,160 shares of the industrial products company’s stock worth $410,000 after purchasing an additional 59 shares during the last quarter. Institutional investors own 89.78% of the company’s stock.

Analysts Set New Price Targets

PKG has been the subject of several research analyst reports. Truist Financial boosted their price objective on Packaging Co. of America from $219.00 to $242.00 and gave the stock a “buy” rating in a research report on Tuesday, October 15th. StockNews.com cut Packaging Co. of America from a “buy” rating to a “hold” rating in a report on Saturday, September 28th. Wells Fargo & Company upped their price target on Packaging Co. of America from $215.00 to $235.00 and gave the company an “overweight” rating in a report on Monday, October 7th. Finally, Citigroup upped their price target on Packaging Co. of America from $199.00 to $221.00 and gave the company a “neutral” rating in a report on Wednesday, October 2nd. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Packaging Co. of America has a consensus rating of “Hold” and a consensus target price of $216.00.

Packaging Co. of America Trading Down 0.1 %

Shares of PKG opened at $220.12 on Monday. Packaging Co. of America has a 1 year low of $143.82 and a 1 year high of $222.98. 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 stock has a 50 day simple moving average of $209.17 and a 200-day simple moving average of $192.99. The stock has a market cap of $19.77 billion, a PE ratio of 27.62, a PEG ratio of 4.32 and a beta of 0.77.

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, topping analysts’ consensus estimates of $2.14 by $0.06. The business had revenue of $2.08 billion during the quarter, compared to analysts’ expectations of $2.02 billion. Packaging Co. of America had a return on equity of 18.21% and a net margin of 9.06%. Packaging Co. of America’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.31 EPS. On average, sell-side analysts predict that Packaging Co. of America will post 8.73 EPS for the current fiscal year.

Packaging Co. of America Announces Dividend

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

Insider Buying and Selling

In related news, SVP Donald R. Shirley sold 6,000 shares of the stock in a transaction that occurred 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 sale, the senior vice president now directly owns 20,772 shares in the company, valued at $4,077,128.16. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP Charles J. Carter sold 5,389 shares of the stock in a transaction that occurred 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 directly owns 25,539 shares in the company, valued at $5,012,794.92. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Donald R. Shirley sold 6,000 shares of the stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $196.28, for a total value of $1,177,680.00. Following the completion of the transaction, the senior vice president now owns 20,772 shares in the company, valued at $4,077,128.16. The trade was 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 corporate insiders.

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.