Cary Street Partners Investment Advisory LLC Has $702,000 Stake in Packaging Co. of America (NYSE:PKG)

Cary Street Partners Investment Advisory LLC lowered its position in Packaging Co. of America (NYSE:PKG) by 46.7% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 4,311 shares of the industrial products company’s stock after selling 3,781 shares during the period. Cary Street Partners Investment Advisory LLC’s holdings in Packaging Co. of America were worth $702,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of PKG. Boston Partners acquired a new position in shares of Packaging Co. of America in the 3rd quarter worth approximately $123,821,000. Retirement Systems of Alabama lifted its position in shares of Packaging Co. of America by 1,133.4% during the 4th quarter. Retirement Systems of Alabama now owns 250,752 shares of the industrial products company’s stock valued at $40,850,000 after acquiring an additional 230,422 shares during the period. Northern Trust Corp lifted its position 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 valued at $177,323,000 after acquiring an additional 131,058 shares during the period. AEGON ASSET MANAGEMENT UK Plc acquired a new position in shares of Packaging Co. of America during the 4th quarter valued at $16,338,000. Finally, Atlas FRM LLC lifted its position 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 valued at $70,633,000 after acquiring an additional 70,000 shares during the period. Institutional investors and hedge funds own 89.78% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently issued reports on PKG. Wells Fargo & Company upgraded shares of Packaging Co. of America from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $187.00 to $191.00 in a research report on Wednesday, April 24th. BNP Paribas downgraded shares of Packaging Co. of America from an “outperform” rating to a “neutral” rating and set a $182.00 target price on the stock. in a research report on Friday, April 12th. Bank of America upgraded shares of Packaging Co. of America from a “neutral” rating to a “buy” rating and boosted their target price for the company from $172.00 to $202.00 in a research report on Monday, March 4th. Seaport Res Ptn downgraded shares of Packaging Co. of America from a “buy” rating to a “neutral” rating in a research report on Monday, January 29th. Finally, StockNews.com lowered shares of Packaging Co. of America from a “buy” rating to a “hold” rating in a research note on Friday, April 19th. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, Packaging Co. of America currently has an average rating of “Hold” and an average price target of $173.57.

Packaging Co. of America Stock Performance

Shares of PKG stock opened at $172.98 on Wednesday. The firm has a market capitalization of $15.52 billion, a PE ratio of 21.62, a price-to-earnings-growth ratio of 4.31 and a beta of 0.78. The firm has a fifty day simple moving average of $182.10 and a two-hundred day simple moving average of $168.58. The company has a current ratio of 2.57, a quick ratio of 1.77 and a debt-to-equity ratio of 0.62. Packaging Co. of America has a 12 month low of $122.20 and a 12 month high of $191.27.

Packaging Co. of America (NYSE:PKG) last posted its earnings results on Tuesday, April 23rd. The industrial products company reported $1.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.63 by $0.09. Packaging Co. of America had a net margin of 9.25% and a return on equity of 18.94%. The firm had revenue of $1.98 billion during the quarter, compared to analyst estimates of $1.91 billion. During the same quarter in the prior year, the business posted $2.20 EPS. The business’s revenue was up .2% compared to the same quarter last year. Analysts forecast that Packaging Co. of America will post 8.21 EPS for the current fiscal year.

Packaging Co. of America Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Friday, March 15th were paid a $1.25 dividend. The ex-dividend date was Thursday, March 14th. This represents a $5.00 annualized dividend and a dividend yield of 2.89%. Packaging Co. of America’s payout ratio is 62.50%.

Insider Transactions at Packaging Co. of America

In other news, CFO Robert P. Mundy sold 10,000 shares of the company’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $182.51, for a total value of $1,825,100.00. Following the completion of the sale, the chief financial officer now owns 46,454 shares in the company, valued at approximately $8,478,319.54. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, CFO Robert P. Mundy sold 10,000 shares of the company’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $182.51, for a total value of $1,825,100.00. Following the completion of the sale, the chief financial officer now owns 46,454 shares in the company, valued at approximately $8,478,319.54. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Thomas A. Hassfurther sold 13,850 shares of the stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $181.06, for a total transaction of $2,507,681.00. Following the transaction, the vice president now owns 187,647 shares of the company’s stock, valued at approximately $33,975,365.82. The disclosure for this sale can be found here. Insiders sold a total of 38,041 shares of company stock worth $6,799,177 in the last quarter. 1.70% of the stock is currently owned by corporate insiders.

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.