Congress Wealth Management LLC DE Cuts Stake in Packaging Co. of America (NYSE:PKG)

Congress Wealth Management LLC DE lessened its position in Packaging Co. of America (NYSE:PKG) by 25.4% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 3,465 shares of the industrial products company’s stock after selling 1,182 shares during the period. Congress Wealth Management LLC DE’s holdings in Packaging Co. of America were worth $780,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Fortitude Family Office LLC raised its holdings 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 purchasing an additional 98 shares in the last quarter. Larson Financial Group LLC raised its stake in shares of 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 buying an additional 115 shares in the last quarter. Centricity Wealth Management LLC acquired a new stake in shares of Packaging Co. of America in the 4th quarter valued at approximately $44,000. Golden State Wealth Management LLC acquired a new stake in shares of Packaging Co. of America in the 4th quarter valued at approximately $48,000. Finally, Rialto Wealth Management LLC purchased a new stake in shares of Packaging Co. of America in the fourth quarter valued at approximately $63,000. Hedge funds and other institutional investors own 89.78% of the company’s stock.

Analyst Upgrades and Downgrades

PKG has been the subject of several research analyst reports. Wells Fargo & Company cut their price objective on Packaging Co. of America from $253.00 to $236.00 and set an “overweight” rating for the company in a research report on Thursday, January 30th. Citigroup increased their price target on shares of Packaging Co. of America from $232.00 to $235.00 and gave the company a “neutral” rating in a report on Monday, January 6th. Jefferies Financial Group raised shares of Packaging Co. of America from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $215.00 to $280.00 in a report on Wednesday, December 18th. Seaport Res Ptn raised shares of Packaging Co. of America from a “hold” rating to a “strong-buy” rating in a report on Thursday, February 13th. Finally, Truist Financial reiterated a “buy” rating and set a $265.00 price target (down from $282.00) on shares of Packaging Co. of America in a research report on Thursday, January 30th. Three research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $233.00.

Packaging Co. of America Price Performance

Shares of NYSE PKG opened at $198.44 on Friday. The company has a current ratio of 2.95, a quick ratio of 1.98 and a debt-to-equity ratio of 0.58. The company’s 50-day moving average price is $211.30 and its 200 day moving average price is $222.10. Packaging Co. of America has a 52 week low of $169.00 and a 52 week high of $250.82. The stock has a market cap of $17.82 billion, a price-to-earnings ratio of 22.22, a PEG ratio of 2.41 and a beta of 0.77.

Packaging Co. of America (NYSE:PKG) last released its quarterly earnings results on Tuesday, January 28th. The industrial products company reported $2.47 EPS for the quarter, missing the consensus estimate of $2.51 by ($0.04). Packaging Co. of America had a net margin of 9.60% and a return on equity of 19.67%. As a group, research analysts forecast that Packaging Co. of America will post 10.44 earnings per share for the current fiscal year.

Packaging Co. of America Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Friday, March 14th will be paid a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.52%. The ex-dividend date is Friday, March 14th. Packaging Co. of America’s payout ratio is currently 55.99%.

Packaging Co. of America Company 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.