Concurrent Investment Advisors LLC Sells 5,507 Shares of Packaging Co. of America (NYSE:PKG)

Concurrent Investment Advisors LLC lessened its position in Packaging Co. of America (NYSE:PKG) by 60.8% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,552 shares of the industrial products company’s stock after selling 5,507 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in Packaging Co. of America were worth $800,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. International Assets Investment Management LLC boosted its holdings in shares of Packaging Co. of America by 41,151.7% during the third quarter. International Assets Investment Management LLC now owns 155,519 shares of the industrial products company’s stock worth $33,499,000 after acquiring an additional 155,142 shares during the period. Assenagon Asset Management S.A. raised its holdings in Packaging Co. of America by 0.4% in the 3rd quarter. Assenagon Asset Management S.A. now owns 74,487 shares of the industrial products company’s stock valued at $16,044,000 after buying an additional 320 shares during the last quarter. Allworth Financial LP increased its stake in shares of Packaging Co. of America by 65.1% in the third quarter. Allworth Financial LP now owns 312 shares of the industrial products company’s stock valued at $67,000 after buying an additional 123 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its position in Packaging Co. of America by 6.4% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 71,331 shares of the industrial products company’s stock valued at $15,386,000 after acquiring an additional 4,292 shares during the last quarter. Finally, Forsta AP Fonden boosted its stake in Packaging Co. of America by 4.5% during the third quarter. Forsta AP Fonden now owns 18,700 shares of the industrial products company’s stock worth $4,028,000 after acquiring an additional 800 shares in the last quarter. 89.78% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

PKG has been the subject of several recent analyst reports. Truist Financial reaffirmed a “buy” rating and issued a $265.00 target price (down from $282.00) on shares of Packaging Co. of America in a report on Thursday, January 30th. Jefferies Financial Group upgraded Packaging Co. of America from a “hold” rating to a “buy” rating and raised their price target for the stock from $215.00 to $280.00 in a research report on Wednesday, December 18th. Wells Fargo & Company decreased their price target on shares of Packaging Co. of America from $253.00 to $236.00 and set an “overweight” rating for the company in a research note on Thursday, January 30th. Seaport Res Ptn upgraded shares of Packaging Co. of America from a “hold” rating to a “strong-buy” rating in a research note on Thursday, February 13th. Finally, StockNews.com cut Packaging Co. of America from a “buy” rating to a “hold” rating in a research report on Wednesday, January 29th. Three equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $233.00.

Packaging Co. of America Stock Down 0.7 %

Packaging Co. of America stock opened at $208.19 on Monday. The stock has a 50-day simple moving average of $224.09 and a 200-day simple moving average of $222.20. Packaging Co. of America has a fifty-two week low of $169.00 and a fifty-two 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. The company has a market capitalization of $18.70 billion, a P/E ratio of 23.31, a PEG ratio of 2.41 and a beta of 0.77.

Packaging Co. of America (NYSE:PKG) last released its earnings results on Tuesday, January 28th. The industrial products company reported $2.47 earnings per share for the quarter, missing the consensus estimate of $2.51 by ($0.04). Packaging Co. of America had a return on equity of 19.67% and a net margin of 9.60%. Equities research analysts expect that Packaging Co. of America will post 10.44 earnings per share for the current year.

Packaging Co. of America Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Friday, December 20th were given a $1.25 dividend. The ex-dividend date was Friday, December 20th. This represents a $5.00 annualized dividend and a dividend yield of 2.40%. Packaging Co. of America’s dividend payout ratio (DPR) is presently 55.99%.

Insiders Place Their Bets

In other Packaging Co. of America news, SVP Joseph Vaughn sold 2,300 shares of Packaging Co. of America stock in a transaction on Tuesday, December 3rd. The stock was 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 approximately $2,252,253.33. The trade was a 20.01 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 1.60% of the company’s stock.

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.