Sequoia Financial Advisors LLC Acquires Shares of 3,126 Packaging Co. of America (NYSE:PKG)

Sequoia Financial Advisors LLC acquired a new stake in shares of Packaging Co. of America (NYSE:PKG) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 3,126 shares of the industrial products company’s stock, valued at approximately $509,000.

A number of other institutional investors have also modified their holdings of PKG. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in shares of Packaging Co. of America by 6.6% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 12,710 shares of the industrial products company’s stock valued at $1,984,000 after buying an additional 787 shares during the last quarter. Raymond James Trust N.A. raised its stake in shares of Packaging Co. of America by 120.3% during the 1st quarter. Raymond James Trust N.A. now owns 3,792 shares of the industrial products company’s stock valued at $592,000 after buying an additional 2,071 shares during the last quarter. Cibc World Market Inc. purchased a new position in shares of Packaging Co. of America during the 1st quarter valued at about $693,000. Sei Investments Co. increased its stake in shares of Packaging Co. of America by 3.0% in the 1st quarter. Sei Investments Co. now owns 162,403 shares of the industrial products company’s stock valued at $25,356,000 after purchasing an additional 4,701 shares in the last quarter. Finally, Canada Pension Plan Investment Board increased its stake in shares of Packaging Co. of America by 58.6% in the 1st quarter. Canada Pension Plan Investment Board now owns 24,748 shares of the industrial products company’s stock valued at $3,863,000 after purchasing an additional 9,145 shares in the last quarter. Hedge funds and other institutional investors own 89.78% of the company’s stock.

Wall Street Analyst Weigh In

PKG has been the subject of several recent analyst reports. Seaport Res Ptn lowered Packaging Co. of America from a “buy” rating to a “neutral” rating in a research note on Monday, January 29th. BNP Paribas lowered Packaging Co. of America from an “outperform” rating to a “neutral” rating and set a $182.00 price target for the company. in a research note on Friday, April 12th. StockNews.com upgraded Packaging Co. of America from a “hold” rating to a “buy” rating in a research note on Thursday, April 11th. Truist Financial boosted their price objective on Packaging Co. of America from $170.00 to $187.00 and gave the stock a “buy” rating in a research note on Thursday, January 4th. Finally, Citigroup boosted their price objective on Packaging Co. of America from $172.00 to $183.00 and gave the stock a “neutral” rating in a research note on Thursday, April 4th. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $171.29.

Packaging Co. of America Trading Down 0.5 %

Shares of Packaging Co. of America stock opened at $179.53 on Wednesday. The stock has a market cap of $16.11 billion, a P/E ratio of 21.17, a P/E/G ratio of 4.38 and a beta of 0.78. The stock’s 50 day simple moving average is $180.50 and its 200-day simple moving average is $167.14. Packaging Co. of America has a 1-year low of $122.20 and a 1-year high of $191.27. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.57 and a quick ratio of 1.77.

Packaging Co. of America (NYSE:PKG) last issued its earnings results on Thursday, January 25th. The industrial products company reported $2.13 earnings per share for the quarter, topping the consensus estimate of $1.83 by $0.30. The business had revenue of $1.94 billion for the quarter, compared to analysts’ expectations of $1.90 billion. Packaging Co. of America had a return on equity of 20.25% and a net margin of 9.81%. The business’s revenue for the quarter was down 2.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.35 EPS. Analysts predict that Packaging Co. of America will post 8.31 EPS for the current fiscal year.

Packaging Co. of America Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 15th were issued a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a yield of 2.79%. The ex-dividend date of this dividend was Thursday, March 14th. Packaging Co. of America’s dividend payout ratio is presently 58.96%.

Insider Activity at Packaging Co. of America

In related news, VP Thomas A. Hassfurther sold 13,850 shares of the company’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $181.06, for a total value of $2,507,681.00. Following the transaction, the vice president now directly owns 187,647 shares in the company, valued at $33,975,365.82. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CFO Robert P. Mundy sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $182.51, for a total value of $1,825,100.00. Following the transaction, the chief financial officer now directly owns 46,454 shares in the company, valued at $8,478,319.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Thomas A. Hassfurther sold 13,850 shares of the company’s stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $181.06, for a total value of $2,507,681.00. Following the completion of the transaction, the vice president now owns 187,647 shares in the company, valued at $33,975,365.82. The disclosure for this sale can be found here. Over the last three months, insiders have sold 38,041 shares of company stock worth $6,799,177. Insiders own 1.70% of the company’s stock.

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.