Los Angeles Capital Management LLC Sells 2,915 Shares of Packaging Co. of America (NYSE:PKG)

Los Angeles Capital Management LLC lowered its holdings in Packaging Co. of America (NYSE:PKG) by 5.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 52,324 shares of the industrial products company’s stock after selling 2,915 shares during the quarter. Los Angeles Capital Management LLC owned about 0.06% of Packaging Co. of America worth $11,780,000 as of its most recent filing with the SEC.

Other large investors also recently made changes to their positions in the company. Larson Financial Group LLC lifted its position in Packaging Co. of America by 234.7% during the 3rd 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. Fortitude Family Office LLC raised its stake in shares of Packaging Co. of America by 150.8% in the fourth quarter. Fortitude Family Office LLC now owns 163 shares of the industrial products company’s stock worth $37,000 after acquiring an additional 98 shares during the last quarter. Centricity Wealth Management LLC acquired a new position in shares of Packaging Co. of America during the fourth quarter worth approximately $44,000. Golden State Wealth Management LLC bought a new stake in shares of Packaging Co. of America during the fourth quarter valued at approximately $48,000. Finally, Assetmark Inc. increased its holdings in shares of Packaging Co. of America by 44.6% in the third quarter. Assetmark Inc. now owns 269 shares of the industrial products company’s stock valued at $58,000 after purchasing an additional 83 shares in the last quarter. Institutional investors own 89.78% of the company’s stock.

Insiders Place Their Bets

In other Packaging Co. of America news, SVP Joseph Vaughn sold 2,300 shares of the business’s stock in a transaction dated 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 directly owns 9,197 shares of the company’s stock, valued at approximately $2,252,253.33. The trade was a 20.01 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.70% of the company’s stock.

Packaging Co. of America Trading Up 0.1 %

NYSE PKG opened at $212.86 on Thursday. Packaging Co. of America has a 12 month low of $169.00 and a 12 month high of $250.82. The stock has a 50-day simple moving average of $222.82 and a 200 day simple moving average of $222.36. The company has a current ratio of 2.95, a quick ratio of 1.98 and a debt-to-equity ratio of 0.58. The company has a market capitalization of $19.12 billion, a PE ratio of 23.84, a P/E/G ratio of 2.41 and a beta of 0.77.

Packaging Co. of America (NYSE:PKG) last announced its quarterly earnings results on Tuesday, January 28th. The industrial products company reported $2.47 EPS 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%. Research analysts forecast that Packaging Co. of America will post 10.44 EPS for the current year.

Packaging Co. of America Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Friday, March 14th will be paid a $1.25 dividend. This represents a $5.00 annualized dividend and a yield of 2.35%. Packaging Co. of America’s payout ratio is presently 55.99%.

Analysts Set New Price Targets

PKG has been the topic of several research reports. Citigroup upped their price objective on Packaging Co. of America from $232.00 to $235.00 and gave the stock a “neutral” rating in a report on Monday, January 6th. Seaport Res Ptn raised Packaging Co. of America from a “hold” rating to a “strong-buy” rating in a research note on Thursday, February 13th. Truist Financial reiterated a “buy” rating and issued a $265.00 price objective (down from $282.00) on shares of Packaging Co. of America in a research report on Thursday, January 30th. StockNews.com upgraded shares of Packaging Co. of America from a “hold” rating to a “buy” rating in a research report on Wednesday. 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 on the stock in a research note on Thursday, January 30th. Two analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $233.00.

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.