Wilmington Savings Fund Society FSB Sells 86 Shares of Packaging Co. of America (NYSE:PKG)

Wilmington Savings Fund Society FSB trimmed its position in shares of Packaging Co. of America (NYSE:PKG) by 2.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,793 shares of the industrial products company’s stock after selling 86 shares during the period. Wilmington Savings Fund Society FSB’s holdings in Packaging Co. of America were worth $854,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in PKG. Brookstone Capital Management acquired a new stake in Packaging Co. of America in the 3rd quarter valued at approximately $288,000. CWM LLC boosted its position in shares of Packaging Co. of America by 82.8% in the third quarter. CWM LLC now owns 9,474 shares of the industrial products company’s stock valued at $2,041,000 after acquiring an additional 4,290 shares during the period. Livforsakringsbolaget Skandia Omsesidigt grew its stake in shares of Packaging Co. of America by 337.3% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,312 shares of the industrial products company’s stock worth $283,000 after acquiring an additional 1,012 shares during the last quarter. Valeo Financial Advisors LLC bought a new position in Packaging Co. of America during the third quarter worth $209,000. Finally, Ritholtz Wealth Management raised its stake in Packaging Co. of America by 1.9% during the 3rd quarter. Ritholtz Wealth Management now owns 4,984 shares of the industrial products company’s stock valued at $1,074,000 after purchasing an additional 95 shares during the last quarter. 89.78% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Packaging Co. of America

In related news, Director Paul T. Stecko sold 10,500 shares of the stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $244.91, for a total transaction of $2,571,555.00. Following the sale, the director now directly owns 8,881 shares in the company, valued at $2,175,045.71. This represents a 54.18 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Joseph Vaughn sold 2,300 shares of Packaging Co. of America stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $244.89, for a total value of $563,247.00. Following the completion of the transaction, the senior vice president now owns 9,197 shares of the company’s stock, valued at approximately $2,252,253.33. The trade was a 20.01 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.60% of the company’s stock.

Packaging Co. of America Price Performance

Packaging Co. of America stock opened at $209.37 on Tuesday. The business has a 50 day simple moving average of $229.62 and a 200 day simple moving average of $221.35. Packaging Co. of America has a one year low of $163.68 and a one year high of $250.82. The company has a market capitalization of $18.80 billion, a PE ratio of 23.45, a price-to-earnings-growth ratio of 2.40 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 (NYSE:PKG) last issued its quarterly earnings data on Tuesday, January 28th. The industrial products company reported $2.47 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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%. On average, sell-side analysts forecast that Packaging Co. of America will post 10.6 EPS for the current fiscal year.

Packaging Co. of America Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Friday, December 20th were paid a dividend of $1.25 per share. The ex-dividend date was Friday, December 20th. This represents a $5.00 annualized dividend and a yield of 2.39%. Packaging Co. of America’s dividend payout ratio is 55.99%.

Wall Street Analyst Weigh In

PKG has been the topic of several research analyst reports. Truist Financial restated a “buy” rating and issued a $265.00 price target (down from $282.00) on shares of Packaging Co. of America in a research report on Thursday, January 30th. Jefferies Financial Group raised Packaging Co. of America from a “hold” rating to a “buy” rating and lifted their target price for the stock from $215.00 to $280.00 in a research report on Wednesday, December 18th. Citigroup upped their price target on Packaging Co. of America from $232.00 to $235.00 and gave the company a “neutral” rating in a report on Monday, January 6th. Wells Fargo & Company decreased their price objective on Packaging Co. of America from $253.00 to $236.00 and set an “overweight” rating on the stock in a report on Thursday, January 30th. Finally, StockNews.com cut Packaging Co. of America from a “buy” rating to a “hold” rating in a research report on Wednesday, January 29th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $233.00.

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.