1,337 Shares in Packaging Co. of America (NYSE:PKG) Acquired by Perigon Wealth Management LLC

Perigon Wealth Management LLC bought a new position in shares of Packaging Co. of America (NYSE:PKG) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 1,337 shares of the industrial products company’s stock, valued at approximately $218,000.

A number of other hedge funds have also modified their holdings of PKG. Annis Gardner Whiting Capital Advisors LLC purchased a new position in shares of Packaging Co. of America during the 3rd quarter valued at $25,000. Clear Street Markets LLC lifted its position in shares of Packaging Co. of America by 94.6% in the first quarter. Clear Street Markets LLC now owns 181 shares of the industrial products company’s stock valued at $25,000 after acquiring an additional 88 shares in the last quarter. ICA Group Wealth Management LLC bought a new position in shares of Packaging Co. of America in the fourth quarter worth about $28,000. Money Concepts Capital Corp grew its position in shares of Packaging Co. of America by 60.0% during the fourth quarter. Money Concepts Capital Corp now owns 264 shares of the industrial products company’s stock worth $34,000 after purchasing an additional 99 shares in the last quarter. Finally, Anchor Investment Management LLC bought a new stake in Packaging Co. of America during the 4th quarter valued at approximately $37,000. 89.78% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on PKG. Seaport Res Ptn cut shares of Packaging Co. of America from a “buy” rating to a “neutral” rating in a research report on Monday, January 29th. Citigroup lifted their price target on shares of Packaging Co. of America from $172.00 to $183.00 and gave the company a “neutral” rating in a report on Thursday, April 4th. Bank of America raised shares of Packaging Co. of America from a “neutral” rating to a “buy” rating and increased their price objective for the company from $172.00 to $202.00 in a report on Monday, March 4th. Truist Financial lifted their target price on Packaging Co. of America from $170.00 to $187.00 and gave the stock a “buy” rating in a report on Thursday, January 4th. Finally, 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. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $171.29.

Insider Buying and Selling at Packaging Co. of America

In other news, VP Thomas A. Hassfurther sold 13,850 shares of the firm’s stock in a transaction dated 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 sale, the vice president now owns 187,647 shares in the company, valued at approximately $33,975,365.82. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Packaging Co. of America news, VP Thomas A. Hassfurther sold 14,191 shares of the company’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $173.80, for a total value of $2,466,395.80. Following the transaction, the vice president now owns 183,930 shares of the company’s stock, valued at approximately $31,967,034. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Thomas A. Hassfurther sold 13,850 shares of the stock in a transaction 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 completion of the sale, the vice president now owns 187,647 shares in the company, valued at approximately $33,975,365.82. The disclosure for this sale can be found here. Insiders have sold 38,041 shares of company stock worth $6,799,177 over the last quarter. Insiders own 1.60% of the company’s stock.

Packaging Co. of America Stock Down 0.6 %

Shares of NYSE:PKG opened at $178.51 on Thursday. The company has a market cap of $16.02 billion, a price-to-earnings ratio of 21.05, a PEG ratio of 4.32 and a beta of 0.78. Packaging Co. of America has a 12 month low of $122.20 and a 12 month high of $191.27. The company has a current ratio of 2.57, a quick ratio of 1.77 and a debt-to-equity ratio of 0.62. The company has a 50-day moving average price of $180.76 and a 200 day moving average price of $167.22.

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

Packaging Co. of America Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Friday, March 15th were paid a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a yield of 2.80%. The ex-dividend date of this dividend was Thursday, March 14th. Packaging Co. of America’s payout ratio is 58.96%.

Packaging Co. of America 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.