Packaging Co. of America (NYSE:PKG) Shares Sold by Community Bank & Trust Waco Texas

Community Bank & Trust Waco Texas trimmed its position in Packaging Co. of America (NYSE:PKG) by 15.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,989 shares of the industrial products company’s stock after selling 366 shares during the period. Community Bank & Trust Waco Texas’ holdings in Packaging Co. of America were worth $324,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. boosted its holdings in Packaging Co. of America by 0.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,186,729 shares of the industrial products company’s stock valued at $335,772,000 after purchasing an additional 11,536 shares during the last quarter. Ameriprise Financial Inc. boosted its stake in shares of Packaging Co. of America by 4.6% during the 3rd quarter. Ameriprise Financial Inc. now owns 1,337,507 shares of the industrial products company’s stock worth $205,389,000 after acquiring an additional 58,444 shares in the last quarter. Northern Trust Corp boosted its stake in shares of Packaging Co. of America by 12.8% during the 3rd quarter. Northern Trust Corp now owns 1,154,823 shares of the industrial products company’s stock worth $177,323,000 after acquiring an additional 131,058 shares in the last quarter. Boston Partners purchased a new stake in shares of Packaging Co. of America during the 3rd quarter worth about $123,821,000. Finally, Atlas FRM LLC boosted its stake in shares of Packaging Co. of America by 17.9% during the 3rd quarter. Atlas FRM LLC now owns 460,000 shares of the industrial products company’s stock worth $70,633,000 after acquiring an additional 70,000 shares in the last quarter. 89.78% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Packaging Co. of America

In other news, VP Thomas A. Hassfurther sold 14,191 shares of the business’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $173.80, for a total transaction of $2,466,395.80. Following the transaction, the vice president now directly owns 183,930 shares in the company, valued at $31,967,034. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, VP Thomas A. Hassfurther sold 14,191 shares of the business’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $173.80, for a total transaction of $2,466,395.80. Following the sale, the vice president now owns 183,930 shares of the company’s stock, valued at $31,967,034. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Thomas A. Hassfurther sold 13,850 shares of the business’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $181.06, for a total transaction of $2,507,681.00. Following the sale, the vice president now directly owns 187,647 shares in the company, valued at approximately $33,975,365.82. The disclosure for this sale can be found here. Insiders have sold a total of 38,041 shares of company stock worth $6,799,177 over the last ninety days. 1.70% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Seaport Res Ptn lowered shares of Packaging Co. of America from a “buy” rating to a “neutral” rating in a research note on Monday, January 29th. Bank of America raised shares of Packaging Co. of America from a “neutral” rating to a “buy” rating and raised their price target for the company from $172.00 to $202.00 in a research note on Monday, March 4th. StockNews.com lowered shares of Packaging Co. of America from a “buy” rating to a “hold” rating in a research note on Friday. Truist Financial increased their price objective on shares of Packaging Co. of America from $170.00 to $187.00 and gave the company a “buy” rating in a report on Thursday, January 4th. Finally, Citigroup increased their price objective on shares of Packaging Co. of America from $172.00 to $183.00 and gave the company a “neutral” rating in a report on Thursday, April 4th. Six research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, Packaging Co. of America has an average rating of “Hold” and an average price target of $171.29.

Packaging Co. of America Stock Down 4.3 %

Shares of Packaging Co. of America stock traded down $7.63 during trading on Tuesday, hitting $171.66. 1,008,557 shares of the stock were exchanged, compared to its average volume of 692,968. The firm’s 50-day moving average price is $181.44 and its 200 day moving average price is $167.88. Packaging Co. of America has a 12-month low of $122.20 and a 12-month high of $191.27. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.57 and a quick ratio of 1.77. The stock has a market cap of $15.41 billion, a price-to-earnings ratio of 21.14, a price-to-earnings-growth ratio of 4.33 and a beta of 0.78.

Packaging Co. of America (NYSE:PKG) last announced its quarterly earnings results on Tuesday, April 23rd. The industrial products company reported $1.72 EPS for the quarter, topping the consensus estimate of $1.63 by $0.09. The firm had revenue of $1.98 billion for the quarter, compared to analyst estimates of $1.91 billion. Packaging Co. of America had a net margin of 9.81% and a return on equity of 20.25%. Packaging Co. of America’s revenue for the quarter was up .2% compared to the same quarter last year. During the same period last year, the business earned $2.20 EPS. As a group, analysts forecast that Packaging Co. of America will post 8.31 earnings per share for the current fiscal year.

Packaging Co. of America Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Friday, March 15th were paid a dividend of $1.25 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.91%. Packaging Co. of America’s dividend payout ratio (DPR) is 58.96%.

About Packaging Co. of America

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.