1834 Investment Advisors Co. Acquires Shares of 918 Packaging Co. of America (NYSE:PKG)

1834 Investment Advisors Co. bought a new position in Packaging Co. of America (NYSE:PKG) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 918 shares of the industrial products company’s stock, valued at approximately $207,000.

Several other institutional investors also recently modified their holdings of PKG. Central Pacific Bank Trust Division purchased a new position in Packaging Co. of America in the third quarter worth $32,000. Fortitude Family Office LLC grew its position in Packaging Co. of America by 150.8% during the fourth quarter. Fortitude Family Office LLC now owns 163 shares of the industrial products company’s stock valued at $37,000 after buying an additional 98 shares during the period. Larson Financial Group LLC increased its holdings in Packaging Co. of America by 234.7% during the third quarter. Larson Financial Group LLC now owns 164 shares of the industrial products company’s stock worth $35,000 after buying an additional 115 shares during the last quarter. Assetmark Inc. raised its position in Packaging Co. of America by 44.6% in the third quarter. Assetmark Inc. now owns 269 shares of the industrial products company’s stock worth $58,000 after acquiring an additional 83 shares during the period. Finally, Brooklyn Investment Group purchased a new position in Packaging Co. of America in the third quarter valued at about $64,000. 89.78% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Citigroup lifted their price target on shares of Packaging Co. of America from $232.00 to $235.00 and gave the stock a “neutral” rating in a report on Monday, January 6th. Wells Fargo & Company upped their price target on Packaging Co. of America from $235.00 to $253.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. Jefferies Financial Group raised Packaging Co. of America from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $215.00 to $280.00 in a report on Wednesday, December 18th. Truist Financial increased their target price on shares of Packaging Co. of America from $252.00 to $282.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. Finally, StockNews.com raised shares of Packaging Co. of America from a “hold” rating to a “buy” rating in a research report on Tuesday, December 24th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, Packaging Co. of America currently has an average rating of “Moderate Buy” and a consensus target price of $238.67.

Packaging Co. of America Trading Up 0.4 %

Shares of PKG opened at $240.08 on Monday. The business’s 50-day moving average price is $235.85 and its 200-day moving average price is $219.31. The company has a quick ratio of 1.98, a current ratio of 2.95 and a debt-to-equity ratio of 0.58. Packaging Co. of America has a twelve month low of $159.57 and a twelve month high of $250.82. The stock has a market cap of $21.56 billion, a PE ratio of 27.98, a P/E/G ratio of 2.36 and a beta of 0.79.

Packaging Co. of America Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Friday, December 20th were issued a $1.25 dividend. This represents a $5.00 annualized dividend and a yield of 2.08%. The ex-dividend date was Friday, December 20th. Packaging Co. of America’s payout ratio is 58.28%.

Insider Activity

In other news, SVP Joseph Vaughn sold 2,300 shares of Packaging Co. of America 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 owns 9,197 shares in the company, valued at approximately $2,252,253.33. This trade represents a 20.01 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 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 transaction of $2,571,555.00. Following the completion of the transaction, the director now owns 8,881 shares in the company, valued at approximately $2,175,045.71. This trade represents 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 worth $8,064,152 in the last three months. Corporate insiders own 1.60% of the company’s stock.

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.