JGP Wealth Management LLC Sells 486 Shares of Packaging Co. of America (NYSE:PKG)

JGP Wealth Management LLC reduced its holdings in shares of Packaging Co. of America (NYSE:PKG) by 5.8% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 7,830 shares of the industrial products company’s stock after selling 486 shares during the period. JGP Wealth Management LLC’s holdings in Packaging Co. of America were worth $1,276,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Scotia Capital Inc. increased its stake in shares of Packaging Co. of America by 1.2% in the third quarter. Scotia Capital Inc. now owns 5,152 shares of the industrial products company’s stock valued at $791,000 after buying an additional 63 shares during the period. State of Wyoming lifted its holdings in shares of Packaging Co. of America by 33.3% in the second quarter. State of Wyoming now owns 284 shares of the industrial products company’s stock valued at $38,000 after purchasing an additional 71 shares in the last quarter. Bartlett & CO. Wealth Management LLC lifted its holdings in Packaging Co. of America by 29.6% during the fourth quarter. Bartlett & CO. Wealth Management LLC now owns 324 shares of the industrial products company’s stock worth $53,000 after acquiring an additional 74 shares during the period. DT Investment Partners LLC lifted its holdings in Packaging Co. of America by 0.9% during the second quarter. DT Investment Partners LLC now owns 7,998 shares of the industrial products company’s stock worth $1,057,000 after acquiring an additional 75 shares during the period. Finally, Skandinaviska Enskilda Banken AB publ increased its position in Packaging Co. of America by 0.4% in the third quarter. Skandinaviska Enskilda Banken AB publ now owns 19,794 shares of the industrial products company’s stock worth $3,039,000 after buying an additional 80 shares during the last quarter. Institutional investors and hedge funds own 90.53% of the company’s stock.

Insider Buying and Selling

In related news, CFO Robert P. Mundy sold 10,000 shares of Packaging Co. of America stock in a transaction dated 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 completion of the transaction, the chief financial officer now owns 46,454 shares in the company, valued at $8,478,319.54. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Packaging Co. of America news, CFO Robert P. Mundy sold 10,000 shares of the company’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $182.51, for a total value of $1,825,100.00. Following the sale, the chief financial officer now directly owns 46,454 shares of the company’s stock, valued at $8,478,319.54. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Thomas A. Hassfurther sold 14,191 shares of the stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $173.80, for a total transaction of $2,466,395.80. Following the sale, the vice president now directly owns 183,930 shares in the company, valued at $31,967,034. The disclosure for this sale can be found here. Over the last quarter, insiders sold 38,041 shares of company stock worth $6,799,177. Corporate insiders own 1.60% of the company’s stock.

Packaging Co. of America Price Performance

PKG stock traded down $1.93 during trading on Monday, reaching $180.98. The company’s stock had a trading volume of 524,076 shares, compared to its average volume of 719,249. The company has a market capitalization of $16.22 billion, a P/E ratio of 21.56, a price-to-earnings-growth ratio of 4.47 and a beta of 0.77. The company’s fifty day moving average is $171.60 and its 200-day moving average is $161.39. The company has a quick ratio of 1.77, a current ratio of 2.57 and a debt-to-equity ratio of 0.62. Packaging Co. of America has a 1 year low of $122.20 and a 1 year high of $188.61.

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 (EPS) for the quarter, topping the consensus estimate of $1.83 by $0.30. Packaging Co. of America had a return on equity of 20.25% and a net margin of 9.81%. The firm had revenue of $1.94 billion for the quarter, compared to analysts’ expectations of $1.90 billion. During the same period in the previous year, the firm posted $2.35 earnings per share. The business’s revenue was down 2.0% compared to the same quarter last year. On average, research analysts expect that Packaging Co. of America will post 8.18 earnings per share for the current fiscal year.

Packaging Co. of America Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, April 15th. Investors of record on Friday, March 15th will be given a $1.25 dividend. The ex-dividend date is Thursday, March 14th. This represents a $5.00 annualized dividend and a yield of 2.76%. Packaging Co. of America’s dividend payout ratio is currently 58.96%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on PKG. Seaport Res Ptn downgraded Packaging Co. of America from a “buy” rating to a “neutral” rating in a research report on Monday, January 29th. Bank of America raised Packaging Co. of America from a “neutral” rating to a “buy” rating and boosted their target price for the company from $172.00 to $202.00 in a research note on Monday, March 4th. StockNews.com downgraded Packaging Co. of America from a “buy” rating to a “hold” rating in a report on Monday, February 12th. Wells Fargo & Company upped their price target on Packaging Co. of America from $147.00 to $173.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 30th. Finally, Truist Financial upped their price objective on Packaging Co. of America from $170.00 to $187.00 and gave the company a “buy” rating in a research report on Thursday, January 4th. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $165.33.

About Packaging Co. of America

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.