Miracle Mile Advisors LLC Purchases Shares of 979 Packaging Co. of America (NYSE:PKG)

Miracle Mile Advisors LLC acquired a new position in Packaging Co. of America (NYSE:PKG) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 979 shares of the industrial products company’s stock, valued at approximately $220,000.

A number of other large investors have also recently made changes to their positions in the stock. Wedmont Private Capital increased its holdings in Packaging Co. of America by 12.4% in the 4th quarter. Wedmont Private Capital now owns 1,847 shares of the industrial products company’s stock worth $421,000 after acquiring an additional 204 shares in the last quarter. Aprio Wealth Management LLC boosted its position in shares of Packaging Co. of America by 8.2% in the fourth quarter. Aprio Wealth Management LLC now owns 1,024 shares of the industrial products company’s stock worth $230,000 after purchasing an additional 78 shares during the period. Czech National Bank increased its stake in shares of Packaging Co. of America by 6.4% in the fourth quarter. Czech National Bank now owns 19,334 shares of the industrial products company’s stock worth $4,353,000 after purchasing an additional 1,171 shares in the last quarter. Fortitude Family Office LLC raised its position in shares of Packaging Co. of America by 150.8% during the 4th quarter. Fortitude Family Office LLC now owns 163 shares of the industrial products company’s stock valued at $37,000 after purchasing an additional 98 shares during the period. Finally, Nordea Investment Management AB lifted its stake in shares of Packaging Co. of America by 4.1% during the 4th quarter. Nordea Investment Management AB now owns 7,438 shares of the industrial products company’s stock valued at $1,676,000 after buying an additional 291 shares in the last quarter. 89.78% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Packaging Co. of America

In related news, Director Paul T. Stecko sold 10,500 shares of the company’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $244.91, for a total transaction of $2,571,555.00. Following the transaction, the director now directly owns 8,881 shares in the company, valued at approximately $2,175,045.71. This represents a 54.18 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Joseph Vaughn sold 2,300 shares of the firm’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $244.89, for a total transaction of $563,247.00. Following the completion of the sale, the senior vice president now directly owns 9,197 shares of the company’s stock, valued at approximately $2,252,253.33. The trade was a 20.01 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 33,300 shares of company stock worth $8,064,152 over the last ninety days. Company insiders own 1.70% of the company’s stock.

Packaging Co. of America Stock Down 0.0 %

NYSE PKG opened at $235.14 on Friday. The stock has a 50 day moving average price of $235.84 and a 200-day moving average price of $216.08. Packaging Co. of America has a one year low of $159.57 and a one year high of $250.82. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.98 and a current ratio of 2.95. The company has a market capitalization of $21.12 billion, a P/E ratio of 27.41, a P/E/G ratio of 2.24 and a beta of 0.79.

Packaging Co. of America (NYSE:PKG) last released its quarterly earnings results on Tuesday, October 22nd. The industrial products company reported $2.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.50 by $0.15. Packaging Co. of America had a net margin of 9.46% and a return on equity of 19.10%. The company had revenue of $2.18 billion for the quarter, compared to the consensus estimate of $2.09 billion. During the same quarter in the prior year, the firm earned $2.05 earnings per share. Packaging Co. of America’s revenue was up 14.9% on a year-over-year basis. As a group, equities analysts predict that Packaging Co. of America will post 9.08 EPS for the current fiscal year.

Packaging Co. of America Announces Dividend

The business also recently disclosed 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. The ex-dividend date of this dividend was Friday, December 20th. This represents a $5.00 annualized dividend and a yield of 2.13%. Packaging Co. of America’s payout ratio is currently 58.28%.

Analyst Ratings Changes

A number of research firms have commented on PKG. Truist Financial raised their price target on Packaging Co. of America from $252.00 to $282.00 and gave the company a “buy” rating in a report on Monday, January 6th. Citigroup boosted their price target on Packaging Co. of America from $232.00 to $235.00 and gave the stock a “neutral” rating in a report on Monday, January 6th. 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 research note on Wednesday, December 18th. StockNews.com upgraded shares of Packaging Co. of America from a “hold” rating to a “buy” rating in a research report on Tuesday, December 24th. Finally, Wells Fargo & Company upped 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 research report on Thursday, October 24th. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $238.67.

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.