Avidian Wealth Enterprises LLC Purchases 175 Shares of Packaging Co. of America (NYSE:PKG)

Avidian Wealth Enterprises LLC raised its stake in shares of Packaging Co. of America (NYSE:PKG) by 16.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,233 shares of the industrial products company’s stock after purchasing an additional 175 shares during the quarter. Avidian Wealth Enterprises LLC’s holdings in Packaging Co. of America were worth $278,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of PKG. Fortitude Family Office LLC boosted its holdings in shares of Packaging Co. of America by 150.8% in the 4th quarter. Fortitude Family Office LLC now owns 163 shares of the industrial products company’s stock valued at $37,000 after acquiring an additional 98 shares during the last quarter. Larson Financial Group LLC boosted its holdings in Packaging Co. of America by 234.7% during the third quarter. Larson Financial Group LLC now owns 164 shares of the industrial products company’s stock worth $35,000 after buying an additional 115 shares in the last quarter. Golden State Wealth Management LLC purchased a new stake in Packaging Co. of America during the fourth quarter worth $48,000. Assetmark Inc. boosted its holdings in Packaging Co. of America by 44.6% during the third quarter. Assetmark Inc. now owns 269 shares of the industrial products company’s stock worth $58,000 after buying an additional 83 shares in the last quarter. Finally, Brooklyn Investment Group purchased a new stake in Packaging Co. of America during the third quarter worth $64,000. Institutional investors and hedge funds own 89.78% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on PKG shares. Truist Financial reaffirmed a “buy” rating and set a $265.00 price objective (down from $282.00) on shares of Packaging Co. of America in a report on Thursday, January 30th. Jefferies Financial Group raised shares of Packaging Co. of America from a “hold” rating to a “buy” rating and increased their price objective for the company from $215.00 to $280.00 in a report on Wednesday, December 18th. Citigroup increased their target price on shares of Packaging Co. of America from $232.00 to $235.00 and gave the company a “neutral” rating in a research report on Monday, January 6th. StockNews.com cut shares of Packaging Co. of America from a “buy” rating to a “hold” rating in a research report on Wednesday, January 29th. Finally, Wells Fargo & Company reduced their target price on shares of Packaging Co. of America from $253.00 to $236.00 and set an “overweight” rating for the company in a research report on Thursday, January 30th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, Packaging Co. of America presently has a consensus rating of “Moderate Buy” and an average target price of $233.00.

Insider Activity

In related news, SVP Joseph Vaughn sold 2,300 shares of Packaging Co. of America stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $244.89, for a total value of $563,247.00. Following the completion of the transaction, the senior vice president now owns 9,197 shares in the company, valued at $2,252,253.33. The trade was a 20.01 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Paul T. Stecko sold 10,500 shares of the firm’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $244.91, for a total transaction of $2,571,555.00. Following the sale, the director now directly owns 8,881 shares in the company, valued at approximately $2,175,045.71. The trade was a 54.18 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.60% of the company’s stock.

Packaging Co. of America Price Performance

Packaging Co. of America stock opened at $212.01 on Friday. Packaging Co. of America has a 12-month low of $164.20 and a 12-month high of $250.82. The stock has a market cap of $19.04 billion, a P/E ratio of 23.74, a PEG ratio of 2.40 and a beta of 0.77. The company has a 50-day moving average price of $227.47 and a 200 day moving average price of $221.23. The company has a current ratio of 2.95, a quick ratio of 1.98 and a debt-to-equity ratio of 0.58.

Packaging Co. of America (NYSE:PKG) last announced its quarterly earnings results on Tuesday, January 28th. The industrial products company reported $2.47 earnings per share for the quarter, missing analysts’ consensus estimates of $2.51 by ($0.04). Packaging Co. of America had a net margin of 9.60% and a return on equity of 19.67%. Sell-side analysts anticipate that Packaging Co. of America will post 10.6 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 Wednesday, January 15th. Stockholders of record on Friday, December 20th were paid a $1.25 dividend. This represents a $5.00 annualized dividend and a dividend yield of 2.36%. The ex-dividend date of this dividend was Friday, December 20th. Packaging Co. of America’s payout ratio is 55.99%.

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.