Shulman DeMeo Asset Management LLC Sells 84 Shares of Packaging Co. of America (NYSE:PKG)

Shulman DeMeo Asset Management LLC lessened its holdings in Packaging Co. of America (NYSE:PKG) by 5.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,372 shares of the industrial products company’s stock after selling 84 shares during the quarter. Shulman DeMeo Asset Management LLC’s holdings in Packaging Co. of America were worth $296,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in PKG. Register Financial Advisors LLC bought a new stake in Packaging Co. of America during the first quarter worth $25,000. Asset Dedication LLC raised its position in Packaging Co. of America by 200.0% during the second quarter. Asset Dedication LLC now owns 168 shares of the industrial products company’s stock worth $31,000 after acquiring an additional 112 shares in the last quarter. Central Pacific Bank Trust Division bought a new stake in Packaging Co. of America during the third quarter worth $32,000. Tortoise Investment Management LLC bought a new stake in Packaging Co. of America during the second quarter worth $33,000. Finally, Headlands Technologies LLC bought a new stake in Packaging Co. of America during the first quarter worth $43,000. Institutional investors own 89.78% of the company’s stock.

Wall Street Analyst Weigh In

PKG has been the subject of several research analyst reports. Truist Financial lifted their target price on shares of Packaging Co. of America from $219.00 to $242.00 and gave the stock a “buy” rating in a report on Tuesday. Wells Fargo & Company boosted their price objective on Packaging Co. of America from $215.00 to $235.00 and gave the stock an “overweight” rating in a report on Monday, October 7th. StockNews.com cut Packaging Co. of America from a “buy” rating to a “hold” rating in a report on Saturday, September 28th. Citigroup boosted their price objective on Packaging Co. of America from $199.00 to $221.00 and gave the stock a “neutral” rating in a report on Wednesday, October 2nd. Finally, Bank of America boosted their price target on Packaging Co. of America from $197.00 to $200.00 and gave the company a “buy” rating in a research note on Monday, June 17th. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $203.33.

Packaging Co. of America Price Performance

Shares of PKG stock traded up $0.82 during trading on Tuesday, hitting $220.80. The company had a trading volume of 558,326 shares, compared to its average volume of 595,809. The stock’s 50-day moving average price is $207.13 and its 200 day moving average price is $192.12. 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 $143.82 and a one year high of $222.76. The firm has a market capitalization of $19.83 billion, a P/E ratio of 27.50, a price-to-earnings-growth ratio of 4.25 and a beta of 0.77.

Packaging Co. of America (NYSE:PKG) last released its earnings results on Tuesday, July 23rd. The industrial products company reported $2.20 earnings per share for the quarter, topping the consensus estimate of $2.14 by $0.06. Packaging Co. of America had a return on equity of 18.21% and a net margin of 9.06%. The firm had revenue of $2.08 billion during the quarter, compared to analysts’ expectations of $2.02 billion. During the same period in the prior year, the company earned $2.31 earnings per share. The company’s quarterly revenue was up 6.3% on a year-over-year basis. Equities analysts expect that Packaging Co. of America will post 8.73 EPS for the current fiscal year.

Packaging Co. of America Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Tuesday, October 15th were paid a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a yield of 2.26%. The ex-dividend date of this dividend was Monday, September 16th. Packaging Co. of America’s payout ratio is presently 62.50%.

Insiders Place Their Bets

In other news, EVP Charles J. Carter sold 5,389 shares of the stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $196.28, for a total value of $1,057,752.92. Following the completion of the transaction, the executive vice president now directly owns 25,539 shares in the company, valued at approximately $5,012,794.92. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, SVP Donald R. Shirley sold 6,000 shares of the stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $196.28, for a total value of $1,177,680.00. Following the completion of the transaction, the senior vice president now directly owns 20,772 shares in the company, valued at approximately $4,077,128.16. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Charles J. Carter sold 5,389 shares of the stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $196.28, for a total value of $1,057,752.92. Following the completion of the transaction, the executive vice president now owns 25,539 shares of the company’s stock, valued at $5,012,794.92. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.60% of the company’s stock.

Packaging Co. of America Profile

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.