JGP Wealth Management LLC Has $1.55 Million Stake in Packaging Co. of America (NYSE:PKG)

JGP Wealth Management LLC cut its stake in Packaging Co. of America (NYSE:PKG) by 0.9% in the fourth quarter, Holdings Channel.com reports. The firm owned 6,875 shares of the industrial products company’s stock after selling 61 shares during the quarter. JGP Wealth Management LLC’s holdings in Packaging Co. of America were worth $1,548,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the company. Sanctuary Advisors LLC lifted its position in shares of Packaging Co. of America by 17.0% in the third quarter. Sanctuary Advisors LLC now owns 20,270 shares of the industrial products company’s stock worth $4,366,000 after purchasing an additional 2,946 shares in the last quarter. Principal Financial Group Inc. lifted its position in Packaging Co. of America by 8.4% during the 3rd quarter. Principal Financial Group Inc. now owns 460,518 shares of the industrial products company’s stock worth $99,194,000 after buying an additional 35,614 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its holdings in shares of Packaging Co. of America by 227.5% in the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 32,243 shares of the industrial products company’s stock valued at $6,945,000 after acquiring an additional 22,397 shares in the last quarter. Citigroup Inc. increased its position in shares of Packaging Co. of America by 30.7% in the third quarter. Citigroup Inc. now owns 115,005 shares of the industrial products company’s stock valued at $24,772,000 after acquiring an additional 27,018 shares during the last quarter. Finally, Quest Partners LLC raised its holdings in Packaging Co. of America by 256.3% during the third quarter. Quest Partners LLC now owns 7,729 shares of the industrial products company’s stock worth $1,665,000 after acquiring an additional 5,560 shares in the last quarter. 89.78% of the stock is currently owned by institutional investors.

Packaging Co. of America Stock Performance

Shares of PKG stock opened at $235.14 on Friday. Packaging Co. of America has a 52 week low of $159.57 and a 52 week high of $250.82. The company has a market capitalization of $21.12 billion, a price-to-earnings ratio of 27.41, a PEG ratio of 2.24 and a beta of 0.79. The company has a 50-day simple moving average of $235.75 and a 200 day simple moving average of $216.22. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.98 and a current ratio of 2.95.

Packaging Co. of America (NYSE:PKG) last issued its quarterly earnings data on Tuesday, October 22nd. The industrial products company reported $2.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.50 by $0.15. The company 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 19.10% and a net margin of 9.46%. The business’s revenue was up 14.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.05 earnings per share. On average, sell-side analysts predict that Packaging Co. of America will post 9.08 earnings per share for the current year.

Packaging Co. of America Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Friday, December 20th were given a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a yield of 2.13%. The ex-dividend date of this dividend was Friday, December 20th. Packaging Co. of America’s payout ratio is 58.28%.

Insider Transactions at Packaging Co. of America

In related news, CFO Robert P. Mundy sold 12,500 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $240.62, for a total value of $3,007,750.00. Following the completion of the sale, the chief financial officer now directly owns 43,954 shares in the company, valued at approximately $10,576,211.48. The trade was a 22.14 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Joseph Vaughn sold 2,300 shares of the firm’s 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 transaction, the senior vice president now owns 9,197 shares in the company, valued at approximately $2,252,253.33. This trade represents a 20.01 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 33,300 shares of company stock valued at $8,064,152. 1.70% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on PKG shares. StockNews.com upgraded Packaging Co. of America from a “hold” rating to a “buy” rating in a research note on Tuesday, December 24th. Wells Fargo & Company boosted 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 report on Thursday, October 24th. Truist Financial lifted their price objective on shares of Packaging Co. of America from $252.00 to $282.00 and gave the company a “buy” rating in a research report on Monday, January 6th. Citigroup upped 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 report on Monday, January 6th. Finally, Jefferies Financial Group upgraded Packaging Co. of America from a “hold” rating to a “buy” rating and lifted their price target for the stock from $215.00 to $280.00 in a report on Wednesday, December 18th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $238.67.

About Packaging Co. of America

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.