Moran Wealth Management LLC Lowers Position in Packaging Co. of America (NYSE:PKG)

Moran Wealth Management LLC trimmed its position in shares of Packaging Co. of America (NYSE:PKG) by 2.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 78,642 shares of the industrial products company’s stock after selling 2,150 shares during the quarter. Moran Wealth Management LLC’s holdings in Packaging Co. of America were worth $17,705,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in PKG. Farther Finance Advisors LLC boosted its position in Packaging Co. of America by 25.5% during the third quarter. Farther Finance Advisors LLC now owns 591 shares of the industrial products company’s stock worth $127,000 after purchasing an additional 120 shares in the last quarter. Van ECK Associates Corp lifted its position in shares of Packaging Co. of America by 11.0% during the 3rd quarter. Van ECK Associates Corp now owns 14,039 shares of the industrial products company’s stock valued at $3,210,000 after buying an additional 1,392 shares in the last quarter. CWA Asset Management Group LLC acquired a new stake in Packaging Co. of America in the 3rd quarter valued at $515,000. Assetmark Inc. increased its holdings in Packaging Co. of America by 44.6% in the 3rd quarter. Assetmark Inc. now owns 269 shares of the industrial products company’s stock worth $58,000 after acquiring an additional 83 shares in the last quarter. Finally, Atria Investments Inc increased its holdings in Packaging Co. of America by 2.7% in the 3rd quarter. Atria Investments Inc now owns 12,145 shares of the industrial products company’s stock worth $2,616,000 after acquiring an additional 321 shares in the last quarter. 89.78% of the stock is currently owned by institutional investors and hedge funds.

Packaging Co. of America Stock Up 1.5 %

NYSE PKG opened at $206.82 on Monday. The business’s fifty day simple moving average is $219.91 and its 200-day simple moving average is $223.09. The company has a quick ratio of 1.98, a current ratio of 2.95 and a debt-to-equity ratio of 0.58. The firm has a market cap of $18.57 billion, a PE ratio of 23.16, a P/E/G ratio of 2.41 and a beta of 0.77. Packaging Co. of America has a 52 week low of $169.00 and a 52 week high of $250.82.

Packaging Co. of America (NYSE:PKG) last issued its earnings results on Tuesday, January 28th. The industrial products company reported $2.47 EPS for the quarter, missing analysts’ consensus estimates 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%. As a group, equities analysts anticipate that Packaging Co. of America will post 10.44 earnings per share for the current year.

Packaging Co. of America Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Friday, March 14th will be given a $1.25 dividend. The ex-dividend date is Friday, March 14th. This represents a $5.00 annualized dividend and a yield of 2.42%. Packaging Co. of America’s payout ratio is 55.99%.

Analyst Upgrades and Downgrades

Several research firms have commented on PKG. Citigroup boosted their price objective on 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. Truist Financial reissued a “buy” rating and issued a $265.00 price objective (down from $282.00) on shares of Packaging Co. of America in a research note on Thursday, January 30th. Jefferies Financial Group upgraded Packaging Co. of America from a “hold” rating to a “buy” rating and raised their price objective for the company from $215.00 to $280.00 in a report on Wednesday, December 18th. Seaport Res Ptn raised shares of Packaging Co. of America from a “hold” rating to a “strong-buy” rating in a report on Thursday, February 13th. Finally, Wells Fargo & Company decreased their price target on shares of Packaging Co. of America from $253.00 to $236.00 and set an “overweight” rating on the stock in a research note on Thursday, January 30th. Two analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock 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.