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

Cary Street Partners Investment Advisory LLC trimmed its stake in Packaging Co. of America (NYSE:PKG) by 46.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund 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 SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Annis Gardner Whiting Capital Advisors LLC acquired a new stake in shares of Packaging Co. of America during the 3rd quarter valued at about $25,000. Anchor Investment Management LLC acquired a new stake in shares of Packaging Co. of America during the 4th quarter valued at about $37,000. Fortis Group Advisors LLC acquired a new position in Packaging Co. of America in the third quarter valued at about $46,000. BKM Wealth Management LLC acquired a new position in Packaging Co. of America in the fourth quarter valued at about $49,000. Finally, Desjardins Global Asset Management Inc. boosted its position in Packaging Co. of America by 485.7% in the fourth quarter. Desjardins Global Asset Management Inc. now owns 328 shares of the industrial products company’s stock valued at $53,000 after buying an additional 272 shares in the last quarter. 89.78% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have commented on PKG shares. Bank of America upgraded shares of Packaging Co. of America from a “neutral” rating to a “buy” rating and boosted their price target for the company from $172.00 to $202.00 in a research report on Monday, March 4th. Seaport Res Ptn lowered shares of Packaging Co. of America from a “buy” rating to a “neutral” rating in a research report on Monday, January 29th. Wells Fargo & Company upgraded shares of Packaging Co. of America from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $187.00 to $191.00 in a research report on Wednesday, April 24th. Citigroup reduced their price target on shares of Packaging Co. of America from $183.00 to $181.00 and set a “neutral” rating on the stock in a research report on Thursday, April 25th. Finally, Truist Financial boosted their target price on shares of Packaging Co. of America from $170.00 to $187.00 and gave the stock a “buy” rating in a research note on Thursday, January 4th. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $173.57.

Packaging Co. of America Trading Down 2.3 %

Shares of NYSE PKG opened at $172.98 on Wednesday. Packaging Co. of America has a 1-year low of $122.20 and a 1-year high of $191.27. The company has a market cap of $15.52 billion, a PE ratio of 21.62, a P/E/G ratio of 4.31 and a beta of 0.78. The company has a current ratio of 2.57, a quick ratio of 1.77 and a debt-to-equity ratio of 0.62. The company has a 50-day moving average of $182.10 and a two-hundred day moving average of $168.58.

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

Packaging Co. of America Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 15th were paid a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.89%. The ex-dividend date of this dividend was Thursday, March 14th. Packaging Co. of America’s dividend payout ratio (DPR) is 62.50%.

Insider Buying and Selling

In related news, VP Thomas A. Hassfurther sold 13,850 shares of the business’s stock in a transaction that occurred on 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 completion of the sale, the vice president now directly owns 187,647 shares of the company’s stock, valued at $33,975,365.82. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, VP Thomas A. Hassfurther sold 14,191 shares of the business’s stock in a transaction that occurred on 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 completion of the transaction, the vice president now owns 183,930 shares in the company, valued at $31,967,034. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Thomas A. Hassfurther sold 13,850 shares of the business’s stock in a transaction that occurred on 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 valued at $6,799,177 over the last ninety days. Insiders own 1.70% of the company’s stock.

Packaging Co. of America Profile

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.