Packaging Co. of America (NYSE:PKG) Shares Sold by Lmcg Investments LLC

Lmcg Investments LLC decreased its position in Packaging Co. of America (NYSE:PKG) by 2.8% in the 3rd quarter, HoldingsChannel reports. The firm owned 66,879 shares of the industrial products company’s stock after selling 1,898 shares during the period. Packaging Co. of America makes up about 0.9% of Lmcg Investments LLC’s holdings, making the stock its 29th largest holding. Lmcg Investments LLC’s holdings in Packaging Co. of America were worth $14,406,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the company. Coldstream Capital Management Inc. increased 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 valued at $704,000 after acquiring an additional 54 shares during the last quarter. Daiwa Securities Group Inc. increased its stake 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 valued at $1,773,000 after acquiring an additional 56 shares during the last quarter. Moors & Cabot Inc. increased its stake 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 valued at $491,000 after acquiring an additional 56 shares during the last quarter. Evergreen Capital Management LLC increased its stake 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 valued at $452,000 after acquiring an additional 57 shares during the last quarter. Finally, Tokio Marine Asset Management Co. Ltd. increased its stake 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 valued at $410,000 after acquiring an additional 59 shares during the last quarter. Institutional investors and hedge funds own 89.78% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on PKG shares. Citigroup upped their price objective on shares of Packaging Co. of America from $199.00 to $221.00 and gave the company a “neutral” rating in a research note on Wednesday, October 2nd. Truist Financial reissued 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. Wells Fargo & Company increased their target price on shares of Packaging Co. of America from $235.00 to $253.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th. Finally, StockNews.com downgraded shares of Packaging Co. of America from a “buy” rating to a “hold” rating in a research report on Friday. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $221.60.

Packaging Co. of America Stock Up 0.5 %

NYSE PKG traded up $1.05 on Friday, reaching $229.99. The company had a trading volume of 826,461 shares, compared to its average volume of 600,453. The firm has a market capitalization of $20.66 billion, a PE ratio of 26.81, a P/E/G ratio of 3.24 and a beta of 0.77. Packaging Co. of America has a 1 year low of $148.50 and a 1 year high of $232.98. The firm has a 50-day moving average of $214.85 and a 200-day moving average of $195.67. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.43 and a quick ratio of 1.71.

Packaging Co. of America (NYSE:PKG) last released its quarterly earnings results on Tuesday, October 22nd. The industrial products company reported $2.65 earnings per share for the quarter, topping analysts’ consensus estimates of $2.50 by $0.15. The firm had revenue of $2.18 billion during the quarter, compared to analysts’ expectations of $2.09 billion. Packaging Co. of America had a return on equity of 19.35% and a net margin of 9.46%. Packaging Co. of America’s quarterly revenue was up 14.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.05 EPS. On average, equities research analysts anticipate that Packaging Co. of America will post 9 EPS for the current fiscal year.

Packaging Co. of America Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Tuesday, October 15th were issued a $1.25 dividend. The ex-dividend date was Monday, September 16th. This represents a $5.00 annualized dividend and a 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 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.