Northcape Wealth Management LLC Cuts Stock Holdings in Packaging Co. of America (NYSE:PKG)

Northcape Wealth Management LLC reduced its stake in Packaging Co. of America (NYSE:PKG) by 5.1% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 1,794 shares of the industrial products company’s stock after selling 96 shares during the quarter. Northcape Wealth Management LLC’s holdings in Packaging Co. of America were worth $404,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Atria Wealth Solutions Inc. boosted its holdings in Packaging Co. of America by 93.7% during the fourth quarter. Atria Wealth Solutions Inc. now owns 7,147 shares of the industrial products company’s stock worth $1,612,000 after purchasing an additional 3,457 shares during the last quarter. Venturi Wealth Management LLC raised its stake in shares of Packaging Co. of America by 23.5% during the 4th quarter. Venturi Wealth Management LLC now owns 3,683 shares of the industrial products company’s stock worth $829,000 after purchasing an additional 702 shares during the period. D.A. Davidson & CO. purchased a new position in shares of Packaging Co. of America in the 4th quarter worth about $224,000. Truist Financial Corp raised its position in Packaging Co. of America by 4.8% in the fourth quarter. Truist Financial Corp now owns 24,351 shares of the industrial products company’s stock worth $5,482,000 after acquiring an additional 1,122 shares during the period. Finally, CIBC Asset Management Inc grew its position in shares of Packaging Co. of America by 2.6% during the 4th quarter. CIBC Asset Management Inc now owns 15,632 shares of the industrial products company’s stock valued at $3,519,000 after acquiring an additional 393 shares during the period. 89.78% of the stock is currently owned by institutional investors.

Packaging Co. of America Stock Down 0.1 %

Shares of NYSE PKG opened at $212.19 on Wednesday. The stock has a market capitalization of $19.06 billion, a P/E ratio of 23.76, a PEG ratio of 2.44 and a beta of 0.77. 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 one year low of $167.60 and a one year high of $250.82. The firm’s 50 day simple moving average is $225.81 and its two-hundred day simple moving average is $221.86.

Packaging Co. of America (NYSE:PKG) last posted its quarterly earnings results on Tuesday, January 28th. The industrial products company reported $2.47 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.51 by ($0.04). Packaging Co. of America had a net margin of 9.60% and a return on equity of 19.67%. As a group, analysts expect that Packaging Co. of America will post 10.44 EPS for the current fiscal year.

Packaging Co. of America Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Friday, December 20th were given a dividend of $1.25 per share. The ex-dividend date of this dividend was Friday, December 20th. This represents a $5.00 annualized dividend and a yield of 2.36%. Packaging Co. of America’s payout ratio is currently 55.99%.

Analyst Ratings Changes

Several equities analysts have weighed in on PKG shares. StockNews.com lowered Packaging Co. of America from a “buy” rating to a “hold” rating in a report on Wednesday, January 29th. Wells Fargo & Company dropped their price target on shares of Packaging Co. of America from $253.00 to $236.00 and set an “overweight” rating on the stock in a research note on Thursday, January 30th. Jefferies Financial Group upgraded Packaging Co. of America from a “hold” rating to a “buy” rating and increased their target price for the stock from $215.00 to $280.00 in a research report on Wednesday, December 18th. Citigroup boosted their price objective on Packaging Co. of America from $232.00 to $235.00 and gave the company a “neutral” rating in a research note on Monday, January 6th. Finally, Truist Financial reiterated a “buy” rating and issued a $265.00 target price (down from $282.00) on shares of Packaging Co. of America in a research note on Thursday, January 30th. Three investment analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $233.00.

Insider Buying and Selling at Packaging Co. of America

In other news, Director Paul T. Stecko sold 10,500 shares of Packaging Co. of America stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $244.91, for a total transaction of $2,571,555.00. Following the sale, the director now owns 8,881 shares of the company’s stock, valued at approximately $2,175,045.71. The trade was a 54.18 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Joseph Vaughn sold 2,300 shares of the firm’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $244.89, for a total transaction of $563,247.00. Following the completion of the sale, the senior vice president now owns 9,197 shares of the company’s stock, valued at $2,252,253.33. This trade represents a 20.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.70% of the company’s stock.

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.