River Street Advisors LLC Has $1.13 Million Stock Holdings in Packaging Co. of America (NYSE:PKG)

River Street Advisors LLC boosted its position in Packaging Co. of America (NYSE:PKG) by 6.8% in the 3rd quarter, HoldingsChannel reports. The firm owned 5,244 shares of the industrial products company’s stock after acquiring an additional 336 shares during the period. River Street Advisors LLC’s holdings in Packaging Co. of America were worth $1,130,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of PKG. Mizuho Securities USA LLC raised its stake in Packaging Co. of America by 1,800.2% in the third quarter. Mizuho Securities USA LLC now owns 130,583 shares of the industrial products company’s stock valued at $28,128,000 after buying an additional 123,711 shares during the period. Seelaus Asset Management LLC boosted its stake in shares of Packaging Co. of America by 2.0% during the 3rd quarter. Seelaus Asset Management LLC now owns 4,780 shares of the industrial products company’s stock worth $1,030,000 after acquiring an additional 95 shares during the period. Coastline Trust Co acquired a new position in shares of Packaging Co. of America during the 3rd quarter worth approximately $206,000. Archer Investment Corp bought a new stake in Packaging Co. of America in the 3rd quarter valued at $288,000. Finally, Empirical Finance LLC lifted its holdings in Packaging Co. of America by 2.1% during the 3rd quarter. Empirical Finance LLC now owns 3,105 shares of the industrial products company’s stock valued at $669,000 after purchasing an additional 63 shares during the last quarter. 89.78% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have commented on the stock. StockNews.com upgraded shares of Packaging Co. of America from a “hold” rating to a “buy” rating in a report on Tuesday. Citigroup lifted their target price on shares of Packaging Co. of America from $199.00 to $221.00 and gave the stock a “neutral” rating in a report on Wednesday, October 2nd. Wells Fargo & Company increased their price target on shares of Packaging Co. of America from $235.00 to $253.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. Finally, Truist Financial restated a “buy” rating and set a $252.00 price objective (up from $242.00) on shares of Packaging Co. of America in a research report on Thursday, October 24th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, Packaging Co. of America presently has an average rating of “Moderate Buy” and an average target price of $221.60.

Insiders Place Their Bets

In other Packaging Co. of America news, SVP Donald R. Shirley sold 8,000 shares of the firm’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $240.20, for a total value of $1,921,600.00. Following the sale, the senior vice president now owns 15,725 shares of the company’s stock, valued at approximately $3,777,145. This trade represents a 33.72 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Robert P. Mundy sold 12,500 shares of the business’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $240.62, for a total value of $3,007,750.00. Following the transaction, the chief financial officer now directly owns 43,954 shares of the company’s stock, valued at approximately $10,576,211.48. The trade was a 22.14 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.60% of the company’s stock.

Packaging Co. of America Stock Performance

NYSE:PKG traded up $0.21 during mid-day trading on Friday, reaching $235.81. 583,602 shares of the company’s stock were exchanged, compared to its average volume of 600,704. Packaging Co. of America has a one year low of $148.50 and a one year high of $245.00. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.98 and a current ratio of 2.95. The business’s fifty day simple moving average is $221.23 and its two-hundred day simple moving average is $199.93. The firm has a market capitalization of $21.18 billion, a PE ratio of 27.48, a price-to-earnings-growth ratio of 3.35 and a beta of 0.76.

Packaging Co. of America (NYSE:PKG) last announced its earnings results on Tuesday, October 22nd. The industrial products company reported $2.65 EPS for the quarter, topping the consensus estimate of $2.50 by $0.15. The company had revenue of $2.18 billion for the quarter, compared to analysts’ expectations of $2.09 billion. Packaging Co. of America had a net margin of 9.46% and a return on equity of 19.10%. The business’s revenue for the quarter was up 14.9% on a year-over-year basis. During the same period last year, the firm earned $2.05 earnings per share. Analysts anticipate that Packaging Co. of America will post 9.07 earnings per share for the current fiscal year.

Packaging Co. of America Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Tuesday, October 15th were given a dividend of $1.25 per share. The ex-dividend date of this dividend was Monday, September 16th. This represents a $5.00 annualized dividend and a yield of 2.12%. Packaging Co. of America’s dividend 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.