Wealth Enhancement Advisory Services LLC Grows Stock Holdings in Packaging Co. of America (NYSE:PKG)

Wealth Enhancement Advisory Services LLC raised its position in Packaging Co. of America (NYSE:PKG) by 0.2% during the fourth quarter, Holdings Channel.com reports. The fund owned 26,564 shares of the industrial products company’s stock after purchasing an additional 63 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Packaging Co. of America were worth $5,722,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the company. Sanctuary Advisors LLC increased its position in shares of Packaging Co. of America by 17.0% during the third quarter. Sanctuary Advisors LLC now owns 20,270 shares of the industrial products company’s stock valued at $4,366,000 after buying an additional 2,946 shares during the period. Principal Financial Group Inc. increased its position in shares of Packaging Co. of America by 8.4% during the third quarter. Principal Financial Group Inc. now owns 460,518 shares of the industrial products company’s stock valued at $99,194,000 after buying an additional 35,614 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its position in shares of Packaging Co. of America by 227.5% during the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 32,243 shares of the industrial products company’s stock valued at $6,945,000 after buying an additional 22,397 shares during the period. Citigroup Inc. increased its position in shares of Packaging Co. of America by 30.7% during the third quarter. Citigroup Inc. now owns 115,005 shares of the industrial products company’s stock valued at $24,772,000 after buying an additional 27,018 shares during the period. Finally, Quest Partners LLC increased its position in shares of Packaging Co. of America by 256.3% during the third quarter. Quest Partners LLC now owns 7,729 shares of the industrial products company’s stock valued at $1,665,000 after buying an additional 5,560 shares during the period. Hedge funds and other institutional investors own 89.78% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on PKG. Wells Fargo & Company boosted their price target on shares of 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. StockNews.com raised shares of Packaging Co. of America from a “hold” rating to a “buy” rating in a research note on Tuesday, December 24th. Citigroup boosted their price objective on shares of Packaging Co. of America from $232.00 to $235.00 and gave the stock a “neutral” rating in a research note on Monday, January 6th. Truist Financial boosted their price objective on shares of Packaging Co. of America from $252.00 to $282.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. Finally, Jefferies Financial Group raised shares of Packaging Co. of America from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $215.00 to $280.00 in a research note on Wednesday, December 18th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $238.67.

Insider Transactions at Packaging Co. of America

In other news, SVP Donald R. Shirley sold 8,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $240.20, for a total value of $1,921,600.00. Following the transaction, the senior vice president now owns 15,725 shares in the company, valued at approximately $3,777,145. This represents a 33.72 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Joseph Vaughn sold 2,300 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $244.89, for a total transaction of $563,247.00. Following the transaction, the senior vice president now owns 9,197 shares in the company, valued at approximately $2,252,253.33. This trade represents a 20.01 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 33,300 shares of company stock worth $8,064,152. Corporate insiders own 1.60% of the company’s stock.

Packaging Co. of America Trading Up 1.0 %

Shares of NYSE PKG opened at $230.37 on Tuesday. The firm’s 50 day moving average price is $235.97 and its 200-day moving average price is $215.60. The company has a market cap of $20.69 billion, a PE ratio of 26.85, a P/E/G ratio of 3.34 and a beta of 0.79. Packaging Co. of America has a 52-week low of $159.57 and a 52-week high of $250.82. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.98 and a current ratio of 2.95.

Packaging Co. of America (NYSE:PKG) last issued its earnings results 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. The firm had revenue of $2.18 billion for the quarter, compared to the consensus estimate of $2.09 billion. Packaging Co. of America had a net margin of 9.46% and a return on equity of 19.10%. The business’s revenue was up 14.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.05 earnings per share. On average, equities research analysts expect that Packaging Co. of America will post 9.07 EPS for the current fiscal year.

Packaging Co. of America Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Friday, December 20th will be paid a $1.25 dividend. The ex-dividend date is Friday, December 20th. This represents a $5.00 annualized dividend and a dividend yield of 2.17%. Packaging Co. of America’s dividend payout ratio is presently 58.28%.

Packaging Co. of America Company Profile

Packaging Corporation of America engages in the production of container products. It operates through the following segments: Packaging, Paper, and Corporate and Other. The Packaging segment offers a variety of corrugated packaging products, such as conventional shipping containers. The Paper segment manufactures and sells a range of papers, including communication-based papers, and pressure sensitive papers.