B. Riley Wealth Advisors Inc. Sells 1,451 Shares of Packaging Co. of America (NYSE:PKG)

B. Riley Wealth Advisors Inc. lessened its holdings in shares of Packaging Co. of America (NYSE:PKG) by 38.5% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,321 shares of the industrial products company’s stock after selling 1,451 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in Packaging Co. of America were worth $501,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Central Pacific Bank Trust Division bought a new position in Packaging Co. of America in the 3rd quarter worth $32,000. Larson Financial Group LLC increased its position in shares of Packaging Co. of America by 234.7% during the third quarter. Larson Financial Group LLC now owns 164 shares of the industrial products company’s stock valued at $35,000 after buying an additional 115 shares during the period. Asset Dedication LLC raised its stake in Packaging Co. of America by 200.0% in the second quarter. Asset Dedication LLC now owns 168 shares of the industrial products company’s stock worth $31,000 after buying an additional 112 shares in the last quarter. Tortoise Investment Management LLC purchased a new stake in Packaging Co. of America in the second quarter worth about $33,000. Finally, Assetmark Inc. boosted its position in Packaging Co. of America by 44.6% during the 3rd quarter. Assetmark Inc. now owns 269 shares of the industrial products company’s stock valued at $58,000 after acquiring an additional 83 shares in the last quarter. Hedge funds and other institutional investors own 89.78% of the company’s stock.

Analyst Ratings Changes

PKG has been the subject of several research reports. Jefferies Financial Group raised 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. Truist Financial reissued a “buy” rating and set a $252.00 price objective (up previously from $242.00) on shares of Packaging Co. of America in a research report on Thursday, October 24th. StockNews.com raised shares of Packaging Co. of America from a “hold” rating to a “buy” rating in a research report on Saturday, December 14th. Citigroup lifted their price target on shares of Packaging Co. of America from $199.00 to $221.00 and gave the company a “neutral” rating in a research report on Wednesday, October 2nd. Finally, Wells Fargo & Company upped their price objective on shares of Packaging Co. of America from $235.00 to $253.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, Packaging Co. of America has a consensus rating of “Moderate Buy” and a consensus price target of $231.33.

Packaging Co. of America Stock Performance

Shares of Packaging Co. of America stock opened at $227.46 on Friday. The stock has a market cap of $20.43 billion, a price-to-earnings ratio of 26.51, a PEG ratio of 3.34 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 1 year low of $159.57 and a 1 year high of $250.82. The firm’s 50-day moving average is $234.92 and its 200 day moving average is $210.14.

Packaging Co. of America (NYSE:PKG) last issued its earnings results on Tuesday, October 22nd. The industrial products company reported $2.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.50 by $0.15. The firm had revenue of $2.18 billion for the quarter, compared to the consensus estimate 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 was up 14.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.05 earnings per share. Sell-side analysts anticipate that Packaging Co. of America will post 9.07 EPS for the current fiscal year.

Packaging Co. of America Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Friday, December 20th will be paid a $1.25 dividend. This represents a $5.00 annualized dividend and a dividend yield of 2.20%. The ex-dividend date of this dividend is Friday, December 20th. Packaging Co. of America’s dividend payout ratio is currently 58.28%.

Insider Transactions at Packaging Co. of America

In other Packaging Co. of America news, SVP Joseph Vaughn sold 2,300 shares of the business’s stock in a transaction dated Tuesday, December 3rd. The stock was 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Donald R. Shirley sold 8,000 shares of the firm’s stock in a transaction dated 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 sale, the senior vice president now directly owns 15,725 shares in the company, 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. Insiders sold 33,300 shares of company stock worth $8,064,152 over the last quarter. 1.60% of the stock is currently owned by insiders.

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.