30,943 Shares in Packaging Co. of America (NYSE:PKG) Purchased by Strategic Financial Concepts LLC

Strategic Financial Concepts LLC bought a new stake in shares of Packaging Co. of America (NYSE:PKG) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 30,943 shares of the industrial products company’s stock, valued at approximately $6,966,000.

Other large investors also recently made changes to their positions in the company. Larson Financial Group LLC grew its position in 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 purchasing an additional 115 shares in the last quarter. Fortitude Family Office LLC boosted its stake in shares of Packaging Co. of America by 150.8% during the 4th quarter. Fortitude Family Office LLC now owns 163 shares of the industrial products company’s stock valued at $37,000 after buying an additional 98 shares during the period. Golden State Wealth Management LLC purchased a new position in shares of Packaging Co. of America during the 4th quarter valued at $48,000. Assetmark Inc. increased its stake in shares of Packaging Co. of America by 44.6% in the third quarter. Assetmark Inc. now owns 269 shares of the industrial products company’s stock worth $58,000 after acquiring an additional 83 shares during the last quarter. Finally, Brooklyn Investment Group purchased a new stake in shares of Packaging Co. of America during the third quarter worth $64,000. Institutional investors and hedge funds own 89.78% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on PKG shares. StockNews.com lowered Packaging Co. of America from a “buy” rating to a “hold” rating in a research report on Wednesday, January 29th. Jefferies Financial Group upgraded Packaging Co. of America from a “hold” rating to a “buy” rating and increased their price objective for the stock from $215.00 to $280.00 in a report on Wednesday, December 18th. Seaport Res Ptn upgraded shares of Packaging Co. of America from a “hold” rating to a “strong-buy” rating in a research note on Thursday. Citigroup increased their price target on shares of Packaging Co. of America from $232.00 to $235.00 and gave the stock a “neutral” rating in a research note on Monday, January 6th. Finally, Truist Financial reaffirmed a “buy” rating and issued a $265.00 price objective (down previously 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 assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $233.00.

Packaging Co. of America Price Performance

Shares of Packaging Co. of America stock opened at $212.54 on Friday. The company has a current ratio of 2.95, a quick ratio of 1.98 and a debt-to-equity ratio of 0.58. The firm has a fifty day simple moving average of $226.87 and a 200-day simple moving average of $221.50. The stock has a market capitalization of $19.09 billion, a price-to-earnings ratio of 23.80, a PEG ratio of 2.40 and a beta of 0.77. Packaging Co. of America has a 1-year low of $165.20 and a 1-year high of $250.82.

Packaging Co. of America (NYSE:PKG) last announced its earnings results on Tuesday, January 28th. The industrial products company reported $2.47 EPS for the quarter, missing the consensus estimate of $2.51 by ($0.04). Packaging Co. of America had a return on equity of 19.67% and a net margin of 9.60%. On average, sell-side analysts expect that Packaging Co. of America will post 10.6 earnings per share for the current year.

Packaging Co. of America Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Friday, December 20th were given a $1.25 dividend. This represents a $5.00 annualized dividend and a yield of 2.35%. The ex-dividend date was Friday, December 20th. Packaging Co. of America’s dividend payout ratio is currently 55.99%.

Insider Transactions at Packaging Co. of America

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

About Packaging Co. of America

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.