Packaging Co. of America (NYSE:PKG) Shares Sold by GPS Wealth Strategies Group LLC

GPS Wealth Strategies Group LLC trimmed its holdings in shares of Packaging Co. of America (NYSE:PKG - Free Report) by 51.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,023 shares of the industrial products company's stock after selling 4,225 shares during the period. GPS Wealth Strategies Group LLC's holdings in Packaging Co. of America were worth $906,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in PKG. SYM FINANCIAL Corp grew its holdings in Packaging Co. of America by 3.1% during the fourth quarter. SYM FINANCIAL Corp now owns 1,405 shares of the industrial products company's stock worth $316,000 after purchasing an additional 42 shares during the period. UMB Bank n.a. lifted its position in shares of Packaging Co. of America by 3.9% during the 4th quarter. UMB Bank n.a. now owns 1,165 shares of the industrial products company's stock worth $262,000 after buying an additional 44 shares during the last quarter. Deseret Mutual Benefit Administrators lifted its stake in Packaging Co. of America by 15.2% in the 3rd quarter. Deseret Mutual Benefit Administrators now owns 371 shares of the industrial products company's stock valued at $80,000 after purchasing an additional 49 shares during the last quarter. AlphaMark Advisors LLC increased its stake in shares of Packaging Co. of America by 3.9% in the fourth quarter. AlphaMark Advisors LLC now owns 1,384 shares of the industrial products company's stock valued at $312,000 after buying an additional 52 shares during the period. Finally, Atomi Financial Group Inc. raised its stake in shares of Packaging Co. of America by 3.3% during the fourth quarter. Atomi Financial Group Inc. now owns 1,643 shares of the industrial products company's stock valued at $370,000 after acquiring an additional 52 shares during the last quarter. Institutional investors own 89.78% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Citigroup lifted their price objective on Packaging Co. of America from $232.00 to $235.00 and gave the stock a "neutral" rating in a research report on Monday, January 6th. Truist Financial restated a "buy" rating and set a $265.00 price target (down previously from $282.00) on shares of Packaging Co. of America in a research note on Thursday, January 30th. StockNews.com downgraded shares of 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 upped their price target for the stock from $215.00 to $280.00 in a report on Wednesday, December 18th. Finally, Wells Fargo & Company reduced their target price on shares of Packaging Co. of America from $253.00 to $236.00 and set an "overweight" rating for the company in a research note on Thursday, January 30th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $233.00.

Packaging Co. of America Stock Down 0.5 %

Shares of Packaging Co. of America stock traded down $0.97 during trading on Wednesday, hitting $209.67. The company's stock had a trading volume of 479,119 shares, compared to its average volume of 953,322. The company has a market capitalization of $18.83 billion, a PE ratio of 23.55, a P/E/G ratio of 2.29 and a beta of 0.77. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.98 and a current ratio of 2.95. Packaging Co. of America has a 52 week low of $161.55 and a 52 week high of $250.82. The company has a fifty day simple moving average of $232.54 and a two-hundred day simple moving average of $220.87.

Packaging Co. of America (NYSE:PKG - Get Free Report) last posted its quarterly earnings results on Tuesday, January 28th. The industrial products company reported $2.47 earnings per share 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%. Equities research analysts predict that Packaging Co. of America will post 11.15 earnings per share for the current year.

Packaging Co. of America Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Friday, December 20th were paid a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a yield of 2.38%. The ex-dividend date was Friday, December 20th. Packaging Co. of America's payout ratio is 55.99%.

Insider Activity

In related news, CFO Robert P. Mundy sold 12,500 shares of the business's stock in a transaction that occurred on 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 completion of the sale, the chief financial officer now owns 43,954 shares in the company, valued at approximately $10,576,211.48. The trade was a 22.14 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Joseph Vaughn sold 2,300 shares of the company's stock in a transaction on 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 sale, the senior vice president now owns 9,197 shares of the company's stock, valued at $2,252,253.33. This represents a 20.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 33,300 shares of company stock worth $8,064,152 in the last three months. Company insiders own 1.70% 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.