Ellsworth Advisors LLC Trims Position in Packaging Co. of America (NYSE:PKG)

Ellsworth Advisors LLC lessened its stake in shares of Packaging Co. of America (NYSE:PKG) by 1.6% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 34,401 shares of the industrial products company’s stock after selling 564 shares during the period. Packaging Co. of America accounts for approximately 2.0% of Ellsworth Advisors LLC’s holdings, making the stock its 5th biggest position. Ellsworth Advisors LLC’s holdings in Packaging Co. of America were worth $7,745,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in PKG. Central Pacific Bank Trust Division bought a new stake in Packaging Co. of America in the third quarter worth $32,000. Larson Financial Group LLC increased its holdings in shares of Packaging Co. of America by 234.7% in 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 during the last quarter. Fortitude Family Office LLC raised its position in shares of Packaging Co. of America by 150.8% during the 4th quarter. Fortitude Family Office LLC now owns 163 shares of the industrial products company’s stock valued at $37,000 after buying an additional 98 shares in the last quarter. Assetmark Inc. lifted its holdings in shares of Packaging Co. of America by 44.6% in the 3rd quarter. Assetmark Inc. now owns 269 shares of the industrial products company’s stock valued at $58,000 after acquiring an additional 83 shares during the last quarter. Finally, Brooklyn Investment Group bought a new stake in Packaging Co. of America during the third quarter worth approximately $64,000. Hedge funds and other institutional investors own 89.78% of the company’s stock.

Insider Transactions at Packaging Co. of America

In other news, CFO Robert P. Mundy sold 12,500 shares of the business’s stock in a transaction 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 transaction, the chief financial officer now directly owns 43,954 shares of the company’s stock, valued at approximately $10,576,211.48. The trade was a 22.14 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Joseph Vaughn sold 2,300 shares of the company’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 sale, the senior vice president now owns 9,197 shares of the company’s stock, valued at $2,252,253.33. This trade represents a 20.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have 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 Analysts Forecast Growth

Several equities research analysts have recently issued reports on PKG shares. Jefferies Financial Group raised Packaging Co. of America from a “hold” rating to a “buy” rating and raised their price objective for the company from $215.00 to $280.00 in a research note on Wednesday, December 18th. Wells Fargo & Company raised their price target on Packaging Co. of America from $235.00 to $253.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th. Citigroup boosted their price objective 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 raised shares of Packaging Co. of America from a “hold” rating to a “buy” rating in a research note on Tuesday, December 24th. Finally, Truist Financial lifted their price target on shares of Packaging Co. of America from $252.00 to $282.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, Packaging Co. of America presently has a consensus rating of “Moderate Buy” and an average target price of $238.67.

Packaging Co. of America Trading Up 0.9 %

PKG stock opened at $237.52 on Monday. The company has a market capitalization of $21.33 billion, a PE ratio of 27.68, a P/E/G ratio of 2.24 and a beta of 0.79. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.95 and a quick ratio of 1.98. Packaging Co. of America has a 12 month low of $159.57 and a 12 month high of $250.82. The firm’s 50-day moving average is $235.69 and its 200 day moving average is $217.15.

Packaging Co. of America (NYSE:PKG) last issued its earnings results on Tuesday, October 22nd. The industrial products company reported $2.65 EPS for the quarter, topping analysts’ consensus estimates of $2.50 by $0.15. The business had revenue of $2.18 billion for the quarter, compared to analyst estimates of $2.09 billion. Packaging Co. of America had a net margin of 9.46% and a return on equity of 19.10%. The company’s quarterly revenue was up 14.9% compared to the same quarter last year. During the same period last year, the company posted $2.05 earnings per share. On average, research analysts anticipate that Packaging Co. of America will post 9.08 EPS for the current year.

Packaging Co. of America Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Friday, December 20th were issued a $1.25 dividend. This represents a $5.00 annualized dividend and a dividend yield of 2.11%. The ex-dividend date was Friday, December 20th. Packaging Co. of America’s dividend payout ratio is 58.28%.

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.