Wedge Capital Management L L P NC Sells 6,687 Shares of Packaging Co. of America (NYSE:PKG)

Wedge Capital Management L L P NC trimmed its stake in shares of Packaging Co. of America (NYSE:PKG) by 18.7% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 29,126 shares of the industrial products company’s stock after selling 6,687 shares during the quarter. Wedge Capital Management L L P NC’s holdings in Packaging Co. of America were worth $6,557,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of PKG. Central Pacific Bank Trust Division bought a new stake in Packaging Co. of America during the third quarter worth about $32,000. Fortitude Family Office LLC boosted 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 worth $37,000 after acquiring an additional 98 shares in the last quarter. Larson Financial Group LLC boosted its position in shares of Packaging Co. of America by 234.7% during the 3rd quarter. Larson Financial Group LLC now owns 164 shares of the industrial products company’s stock worth $35,000 after acquiring an additional 115 shares in the last quarter. Assetmark Inc. increased its stake in Packaging Co. of America by 44.6% in the third 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 acquired a new position in Packaging Co. of America during the third quarter valued at approximately $64,000. 89.78% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Packaging Co. of America

In other Packaging Co. of America news, SVP Joseph Vaughn sold 2,300 shares of the stock in a transaction that occurred 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 transaction, the senior vice president now owns 9,197 shares in the company, valued at approximately $2,252,253.33. This represents a 20.01 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Donald R. Shirley sold 8,000 shares of Packaging Co. of America stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $240.20, for a total transaction of $1,921,600.00. Following the completion of the sale, the senior vice president now directly owns 15,725 shares of the company’s stock, valued at approximately $3,777,145. The trade was a 33.72 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 33,300 shares of company stock valued at $8,064,152. Corporate insiders own 1.70% of the company’s stock.

Packaging Co. of America Trading Up 0.9 %

PKG opened at $237.52 on Friday. 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 fifty-two week low of $159.57 and a fifty-two week high of $250.82. The company’s 50 day moving average price is $235.69 and its two-hundred day moving average price is $216.89. The firm has a market capitalization of $21.33 billion, a price-to-earnings ratio of 27.68, a PEG ratio of 2.24 and a beta of 0.79.

Packaging Co. of America (NYSE:PKG) last issued its quarterly earnings data on Tuesday, October 22nd. The industrial products company reported $2.65 earnings per share for the quarter, topping the consensus estimate of $2.50 by $0.15. Packaging Co. of America had a net margin of 9.46% and a return on equity of 19.10%. The company had revenue of $2.18 billion for the quarter, compared to analysts’ expectations of $2.09 billion. During the same quarter in the previous year, the firm posted $2.05 earnings per share. Packaging Co. of America’s revenue for the quarter was up 14.9% on a year-over-year basis. As a group, research analysts predict that Packaging Co. of America will post 9.08 earnings per share for the current year.

Packaging Co. of America Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Friday, December 20th were given a $1.25 dividend. This represents a $5.00 annualized dividend and a dividend yield of 2.11%. The ex-dividend date of this dividend was Friday, December 20th. Packaging Co. of America’s dividend payout ratio (DPR) is presently 58.28%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on PKG shares. Truist Financial lifted their price target on Packaging Co. of America from $252.00 to $282.00 and gave the company a “buy” rating in a research note on Monday, January 6th. Wells Fargo & Company lifted their target price on Packaging Co. of America from $235.00 to $253.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. Citigroup increased their target price on shares of Packaging Co. of America from $232.00 to $235.00 and gave the stock a “neutral” rating in a report on Monday, January 6th. StockNews.com raised shares of Packaging Co. of America from a “hold” rating to a “buy” rating in a report on Tuesday, December 24th. Finally, Jefferies Financial Group raised shares of Packaging Co. of America from a “hold” rating to a “buy” rating and increased their price objective for the company from $215.00 to $280.00 in a research note on Wednesday, December 18th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $238.67.

Packaging Co. of America Profile

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.