Packaging Co. of America (NYSE:PKG) Shares Sold by Forum Financial Management LP

Forum Financial Management LP decreased its holdings in Packaging Co. of America (NYSE:PKG) by 6.7% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,081 shares of the industrial products company’s stock after selling 78 shares during the quarter. Forum Financial Management LP’s holdings in Packaging Co. of America were worth $233,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Asset Dedication LLC raised its stake in shares of Packaging Co. of America by 200.0% during the 2nd quarter. Asset Dedication LLC now owns 168 shares of the industrial products company’s stock worth $31,000 after buying an additional 112 shares during the period. Central Pacific Bank Trust Division acquired a new position in Packaging Co. of America during the third quarter worth $32,000. Tortoise Investment Management LLC purchased a new position in Packaging Co. of America during the second quarter valued at $33,000. Headlands Technologies LLC purchased a new position in Packaging Co. of America during the first quarter valued at $43,000. Finally, Strategic Financial Concepts LLC acquired a new stake in shares of Packaging Co. of America in the second quarter valued at about $50,000. Hedge funds and other institutional investors own 89.78% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on PKG shares. StockNews.com lowered shares of Packaging Co. of America from a “buy” rating to a “hold” rating in a research note on Friday, November 1st. Truist Financial restated a “buy” rating and issued a $252.00 target price (up previously from $242.00) on shares of Packaging Co. of America in a research report on Thursday, October 24th. Citigroup boosted their price target on Packaging Co. of America from $199.00 to $221.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 2nd. Finally, Wells Fargo & Company raised their price objective on Packaging Co. of America from $235.00 to $253.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Packaging Co. of America presently has a consensus rating of “Hold” and an average price target of $221.60.

Packaging Co. of America Stock Performance

Shares of Packaging Co. of America stock opened at $232.65 on Wednesday. The business’s 50 day moving average price is $215.37 and its 200 day moving average price is $196.27. The company has a market cap of $20.89 billion, a price-to-earnings ratio of 27.12, a PEG ratio of 3.25 and a beta of 0.76. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.71 and a current ratio of 2.43. Packaging Co. of America has a one year low of $148.50 and a one year high of $232.98.

Packaging Co. of America (NYSE:PKG) last issued its earnings results 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 business had revenue of $2.18 billion during the quarter, compared to the consensus estimate of $2.09 billion. Packaging Co. of America had a return on equity of 19.35% and a net margin of 9.46%. The company’s revenue for the quarter was up 14.9% on a year-over-year basis. During the same period last year, the company earned $2.05 EPS. On average, research analysts predict that Packaging Co. of America will post 9 EPS for the current year.

Packaging Co. of America Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Tuesday, October 15th were issued a $1.25 dividend. The ex-dividend date was Monday, September 16th. This represents a $5.00 annualized dividend and a yield of 2.15%. Packaging Co. of America’s payout ratio is 58.28%.

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.