Golden State Wealth Management LLC Invests $48,000 in Packaging Co. of America (NYSE:PKG)

Golden State Wealth Management LLC bought a new stake in Packaging Co. of America (NYSE:PKG) in the 4th quarter, Holdings Channel.com reports. The firm bought 211 shares of the industrial products company’s stock, valued at approximately $48,000.

Other large investors have also recently made changes to their positions in the company. Fortitude Family Office LLC increased 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 worth $37,000 after buying an additional 98 shares during the period. Larson Financial Group LLC grew its position in shares of 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 acquiring an additional 115 shares during the last quarter. Assetmark Inc. increased its holdings in shares of 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. Brooklyn Investment Group purchased a new stake in Packaging Co. of America in the 3rd quarter valued at $64,000. Finally, Allworth Financial LP boosted its stake in Packaging Co. of America by 65.1% during the 3rd quarter. Allworth Financial LP now owns 312 shares of the industrial products company’s stock worth $67,000 after purchasing an additional 123 shares during the period. 89.78% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Packaging Co. of America

In other news, SVP Joseph Vaughn sold 2,300 shares of the company’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $244.89, for a total value of $563,247.00. Following the sale, the senior vice president now directly owns 9,197 shares in the company, valued at $2,252,253.33. This represents a 20.01 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Paul T. Stecko sold 10,500 shares of the firm’s stock in a transaction dated 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 sale, the director now directly owns 8,881 shares in the company, valued at $2,175,045.71. This represents a 54.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on PKG shares. Truist Financial reaffirmed a “buy” rating and issued a $265.00 target price (down from $282.00) on shares of Packaging Co. of America in a report on Thursday, January 30th. Citigroup upped their price objective on Packaging Co. of America from $232.00 to $235.00 and gave the company a “neutral” rating in a research note on Monday, January 6th. Wells Fargo & Company lowered their target price on Packaging Co. of America from $253.00 to $236.00 and set an “overweight” rating on the stock in a research note on Thursday, January 30th. StockNews.com cut Packaging Co. of America from a “buy” rating to a “hold” rating in a research note on Wednesday, January 29th. Finally, Jefferies Financial Group upgraded shares of Packaging Co. of America from a “hold” rating to a “buy” rating and lifted their price objective for the company from $215.00 to $280.00 in a research report on Wednesday, December 18th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $233.00.

Packaging Co. of America Stock Down 0.5 %

Packaging Co. of America stock opened at $208.39 on Wednesday. The stock’s 50 day moving average price is $228.91 and its 200 day moving average price is $221.42. Packaging Co. of America has a 1-year low of $163.68 and a 1-year high of $250.82. The company has a market cap of $18.71 billion, a PE ratio of 23.34, a price-to-earnings-growth ratio of 2.40 and a beta of 0.77. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.95 and a quick ratio of 1.98.

Packaging Co. of America (NYSE:PKG) last posted its quarterly earnings results on Tuesday, January 28th. The industrial products company reported $2.47 earnings per share for the quarter, missing analysts’ consensus estimates of $2.51 by ($0.04). Packaging Co. of America had a return on equity of 19.67% and a net margin of 9.60%. On average, sell-side analysts predict that Packaging Co. of America will post 10.6 EPS for the current fiscal year.

Packaging Co. of America Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Friday, December 20th were given a dividend of $1.25 per share. The ex-dividend date was Friday, December 20th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.40%. Packaging Co. of America’s payout ratio is 55.99%.

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.