Packaging Co. of America (NYSE:PKG) Shares Sold by Hartford Investment Management Co.

Hartford Investment Management Co. trimmed its stake in Packaging Co. of America (NYSE:PKG) by 1.2% in the third quarter, Holdings Channel.com reports. The firm owned 5,662 shares of the industrial products company’s stock after selling 67 shares during the quarter. Hartford Investment Management Co.’s holdings in Packaging Co. of America were worth $1,220,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the stock. Register Financial Advisors LLC purchased a new stake in shares of Packaging Co. of America during the 1st quarter worth about $25,000. Asset Dedication LLC boosted its stake in shares of Packaging Co. of America by 200.0% in the second quarter. Asset Dedication LLC now owns 168 shares of the industrial products company’s stock valued at $31,000 after purchasing an additional 112 shares during the period. Central Pacific Bank Trust Division purchased a new stake in Packaging Co. of America during the 3rd quarter worth $32,000. Tortoise Investment Management LLC purchased a new position in Packaging Co. of America in the 2nd quarter valued at about $33,000. Finally, Headlands Technologies LLC acquired a new stake in Packaging Co. of America during the 1st quarter valued at approximately $43,000. Hedge funds and other institutional investors own 89.78% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on PKG shares. StockNews.com upgraded shares of Packaging Co. of America from a “hold” rating to a “buy” rating in a research note on Tuesday. Wells Fargo & Company increased their target price on shares of Packaging Co. of America from $235.00 to $253.00 and gave the stock an “overweight” rating in a report on Thursday. Citigroup lifted their target price on Packaging Co. of America from $199.00 to $221.00 and gave the company a “neutral” rating in a research note on Wednesday, October 2nd. Finally, Truist Financial reissued a “buy” rating and issued a $252.00 price target (up previously from $242.00) on shares of Packaging Co. of America in a report on Thursday. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Packaging Co. of America presently has a consensus rating of “Moderate Buy” and an average price target of $221.60.

Packaging Co. of America Stock Down 0.7 %

Shares of Packaging Co. of America stock opened at $225.86 on Friday. The company has a quick ratio of 1.71, a current ratio of 2.43 and a debt-to-equity ratio of 0.60. Packaging Co. of America has a 12-month low of $148.50 and a 12-month high of $231.30. The firm has a market capitalization of $20.28 billion, a PE ratio of 28.23, a price-to-earnings-growth ratio of 4.24 and a beta of 0.77. The stock’s fifty day moving average is $212.04 and its 200-day moving average is $194.18.

Packaging Co. of America (NYSE:PKG) last released its earnings results on Tuesday, October 22nd. The industrial products company reported $2.65 earnings per share for the quarter, topping the consensus estimate of $2.50 by $0.15. Packaging Co. of America had a net margin of 9.46% and a return on equity of 19.35%. The business had revenue of $2.18 billion for the quarter, compared to the consensus estimate of $2.09 billion. During the same period last year, the firm posted $2.05 earnings per share. The firm’s quarterly revenue was up 14.9% compared to the same quarter last year. Equities analysts anticipate that Packaging Co. of America will post 8.77 earnings per share for the current year.

Packaging Co. of America Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Tuesday, October 15th were paid a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a yield of 2.21%. The ex-dividend date was Monday, September 16th. Packaging Co. of America’s dividend payout ratio (DPR) is currently 62.50%.

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.