Fifth Third Wealth Advisors LLC Has $247,000 Holdings in Packaging Co. of America (NYSE:PKG)

Fifth Third Wealth Advisors LLC lifted its position in shares of Packaging Co. of America (NYSE:PKG) by 5.6% during the 4th quarter, HoldingsChannel reports. The fund owned 1,098 shares of the industrial products company’s stock after purchasing an additional 58 shares during the period. Fifth Third Wealth Advisors LLC’s holdings in Packaging Co. of America were worth $247,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Central Pacific Bank Trust Division bought a new stake in shares of Packaging Co. of America during the third quarter worth about $32,000. Fortitude Family Office LLC boosted its position in 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 worth $37,000 after buying an additional 98 shares during the period. Larson Financial Group LLC grew its holdings in Packaging Co. of America by 234.7% during the 3rd quarter. Larson Financial Group LLC now owns 164 shares of the industrial products company’s stock worth $35,000 after acquiring an additional 115 shares during the last quarter. Assetmark Inc. increased its position in Packaging Co. of America by 44.6% in the 3rd quarter. Assetmark Inc. now owns 269 shares of the industrial products company’s stock valued at $58,000 after acquiring an additional 83 shares during the period. Finally, Brooklyn Investment Group bought a new position in shares of Packaging Co. of America during the third quarter valued at $64,000. Institutional investors own 89.78% of the company’s stock.

Analysts Set New Price Targets

PKG has been the topic of several analyst reports. Truist Financial boosted their price objective on shares of Packaging Co. of America from $252.00 to $282.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. StockNews.com upgraded Packaging Co. of America from a “hold” rating to a “buy” rating in a research report on Tuesday, December 24th. Citigroup raised 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. Wells Fargo & Company upped their target price on Packaging Co. of America from $235.00 to $253.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. Finally, Jefferies Financial Group upgraded shares of Packaging Co. of America from a “hold” rating to a “buy” rating and raised their price target for the stock from $215.00 to $280.00 in a report on Wednesday, December 18th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, Packaging Co. of America currently has a consensus rating of “Moderate Buy” and a consensus target price of $238.67.

Insider Activity at Packaging Co. of America

In other Packaging Co. of America news, CFO Robert P. Mundy sold 12,500 shares of the firm’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 of the company’s stock, valued at approximately $10,576,211.48. This trade represents a 22.14 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Paul T. Stecko sold 10,500 shares of the company’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $244.91, for a total value of $2,571,555.00. Following the transaction, the director now directly owns 8,881 shares in the company, valued at $2,175,045.71. The trade was a 54.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 33,300 shares of company stock valued at $8,064,152 in the last three months. Corporate insiders own 1.60% of the company’s stock.

Packaging Co. of America Price Performance

Shares of PKG opened at $237.52 on Friday. The firm has a market cap of $21.33 billion, a PE ratio of 27.68, a price-to-earnings-growth ratio of 2.24 and a beta of 0.79. Packaging Co. of America has a 52-week low of $159.57 and a 52-week high of $250.82. The business’s 50 day moving average price is $235.69 and its two-hundred day moving average price is $216.62. 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 (NYSE:PKG) last released its 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. The company had revenue of $2.18 billion for the quarter, compared to the consensus estimate of $2.09 billion. Packaging Co. of America had a net margin of 9.46% and a return on equity of 19.10%. Packaging Co. of America’s quarterly revenue was up 14.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.05 EPS. On average, equities analysts anticipate that Packaging Co. of America will post 9.08 EPS for the current year.

Packaging Co. of America Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Friday, December 20th were paid a $1.25 dividend. The ex-dividend date of this dividend was Friday, December 20th. This represents a $5.00 annualized dividend and a dividend yield of 2.11%. Packaging Co. of America’s dividend payout ratio is presently 58.28%.

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.