Portfolio Design Labs LLC Has $260,000 Stock Holdings in Packaging Co. of America (NYSE:PKG)

Portfolio Design Labs LLC trimmed its stake in shares of Packaging Co. of America (NYSE:PKG) by 87.9% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,206 shares of the industrial products company’s stock after selling 8,787 shares during the period. Portfolio Design Labs LLC’s holdings in Packaging Co. of America were worth $260,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Asset Dedication LLC increased its stake in Packaging Co. of America by 200.0% in the 2nd quarter. Asset Dedication LLC now owns 168 shares of the industrial products company’s stock valued at $31,000 after buying an additional 112 shares during the last quarter. Central Pacific Bank Trust Division bought a new position in shares of Packaging Co. of America in the 3rd quarter valued at about $32,000. Tortoise Investment Management LLC bought a new stake in shares of Packaging Co. of America during the 2nd quarter worth about $33,000. Strategic Financial Concepts LLC bought a new stake in shares of Packaging Co. of America during the 2nd quarter worth about $50,000. Finally, Assetmark Inc. boosted its holdings in shares of Packaging Co. of America by 44.6% during the 3rd quarter. Assetmark Inc. now owns 269 shares of the industrial products company’s stock worth $58,000 after buying an additional 83 shares during the period. 89.78% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on PKG shares. StockNews.com cut shares of Packaging Co. of America from a “buy” rating to a “hold” rating in a research note on Wednesday. Wells Fargo & Company boosted their target price 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. Truist Financial restated a “buy” rating and issued a $252.00 target price (up from $242.00) on shares of Packaging Co. of America in a research report on Thursday, October 24th. Finally, Citigroup upped their price objective on shares of Packaging Co. of America from $199.00 to $221.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 2nd. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $221.60.

Insiders Place Their Bets

In other news, CFO Robert P. Mundy sold 12,500 shares of the company’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $240.62, for a total value of $3,007,750.00. Following the sale, the chief financial officer now directly owns 43,954 shares of the company’s stock, valued at approximately $10,576,211.48. This represents a 22.14 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Donald R. Shirley sold 8,000 shares of the company’s stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $240.20, for a total transaction of $1,921,600.00. Following the completion of the sale, the senior vice president now directly 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 disclosure for this sale can be found here. Insiders own 1.60% of the company’s stock.

Packaging Co. of America Price Performance

PKG stock opened at $244.12 on Thursday. Packaging Co. of America has a 1 year low of $151.74 and a 1 year high of $248.62. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.95 and a quick ratio of 1.98. The stock has a market cap of $21.92 billion, a price-to-earnings ratio of 28.45, a P/E/G ratio of 3.35 and a beta of 0.76. The company has a 50 day simple moving average of $223.36 and a 200 day simple moving average of $201.48.

Packaging Co. of America (NYSE:PKG) last posted its 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. Packaging Co. of America had a net margin of 9.46% and a return on equity of 19.10%. The firm had revenue of $2.18 billion for the quarter, compared to analyst estimates of $2.09 billion. During the same period in the previous year, the firm posted $2.05 EPS. The company’s revenue for the quarter was up 14.9% compared to the same quarter last year. Research analysts anticipate that Packaging Co. of America will post 9.07 EPS for the current fiscal year.

Packaging Co. of America Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Tuesday, October 15th were issued a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a yield of 2.05%. The ex-dividend date of this dividend was Monday, September 16th. Packaging Co. of America’s payout ratio is 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.