Waverly Advisors LLC Invests $2.35 Million in Packaging Co. of America (NYSE:PKG)

Waverly Advisors LLC purchased a new position in shares of Packaging Co. of America (NYSE:PKG) during the first quarter, HoldingsChannel.com reports. The fund purchased 12,379 shares of the industrial products company’s stock, valued at approximately $2,349,000.

A number of other hedge funds also recently modified their holdings of the business. Tokio Marine Asset Management Co. Ltd. raised its position in shares of Packaging Co. of America by 2.8% during the first quarter. Tokio Marine Asset Management Co. Ltd. now owns 2,160 shares of the industrial products company’s stock worth $410,000 after purchasing an additional 59 shares during the period. CENTRAL TRUST Co raised its position in shares of Packaging Co. of America by 1.8% during the fourth quarter. CENTRAL TRUST Co now owns 3,429 shares of the industrial products company’s stock worth $559,000 after purchasing an additional 62 shares during the period. Essex Savings Bank raised its position in shares of Packaging Co. of America by 4.0% during the fourth quarter. Essex Savings Bank now owns 1,643 shares of the industrial products company’s stock worth $268,000 after purchasing an additional 63 shares during the period. Mather Group LLC. raised its position in Packaging Co. of America by 3.0% in the 4th quarter. Mather Group LLC. now owns 2,263 shares of the industrial products company’s stock valued at $369,000 after buying an additional 66 shares during the last quarter. Finally, First Horizon Advisors Inc. raised its position in Packaging Co. of America by 60.5% in the 4th quarter. First Horizon Advisors Inc. now owns 183 shares of the industrial products company’s stock valued at $30,000 after buying an additional 69 shares during the last quarter. Institutional investors and hedge funds own 89.78% of the company’s stock.

Analyst Ratings Changes

PKG has been the topic of a number of recent research reports. StockNews.com raised Packaging Co. of America from a “hold” rating to a “buy” rating in a research report on Wednesday, July 24th. Wells Fargo & Company lifted their target price on Packaging Co. of America from $194.00 to $215.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. BNP Paribas lowered Packaging Co. of America from an “outperform” rating to a “neutral” rating and set a $182.00 target price on the stock. in a research report on Friday, April 12th. Truist Financial lifted their target price on Packaging Co. of America from $215.00 to $219.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. Finally, Bank of America lifted their target price on Packaging Co. of America from $197.00 to $200.00 and gave the company a “buy” rating in a research report on Monday, June 17th. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $190.50.

Packaging Co. of America Stock Down 0.3 %

Shares of NYSE:PKG traded down $0.59 during trading on Tuesday, hitting $197.81. 201,310 shares of the company were exchanged, compared to its average volume of 626,398. The stock has a market cap of $17.76 billion, a price-to-earnings ratio of 24.80, a P/E/G ratio of 5.20 and a beta of 0.77. Packaging Co. of America has a fifty-two week low of $143.82 and a fifty-two week high of $199.88. The firm has a fifty day moving average price of $184.95 and a two-hundred day moving average price of $179.75. The company has a current ratio of 2.46, a quick ratio of 1.74 and a debt-to-equity ratio of 0.62.

Packaging Co. of America (NYSE:PKG) last posted its quarterly earnings results on Tuesday, July 23rd. The industrial products company reported $2.20 earnings per share for the quarter, topping the consensus estimate of $2.14 by $0.06. Packaging Co. of America had a return on equity of 18.39% and a net margin of 9.06%. The firm had revenue of $2.08 billion for the quarter, compared to analyst estimates of $2.02 billion. During the same quarter in the previous year, the firm earned $2.31 EPS. The business’s quarterly revenue was up 6.3% on a year-over-year basis. As a group, research analysts anticipate that Packaging Co. of America will post 8.62 earnings per share for the current fiscal year.

Packaging Co. of America Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Friday, June 14th were paid a dividend of $1.25 per share. The ex-dividend date was Friday, June 14th. This represents a $5.00 annualized dividend and a dividend yield of 2.53%. Packaging Co. of America’s dividend payout ratio is currently 62.50%.

Insider Transactions at Packaging Co. of America

In other Packaging Co. of America news, Director Karen E. Gowland bought 300 shares of Packaging Co. of America stock in a transaction dated Wednesday, May 15th. The stock was bought at an average cost of $182.06 per share, for a total transaction of $54,618.00. Following the purchase, the director now owns 916 shares of the company’s stock, valued at approximately $166,766.96. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Karen E. Gowland purchased 300 shares of Packaging Co. of America stock in a transaction that occurred on Wednesday, May 15th. The stock was acquired at an average cost of $182.06 per share, for a total transaction of $54,618.00. Following the purchase, the director now directly owns 916 shares of the company’s stock, valued at approximately $166,766.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Donald R. Shirley sold 6,000 shares of the business’s stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $196.28, for a total value of $1,177,680.00. Following the completion of the sale, the senior vice president now owns 20,772 shares of the company’s stock, valued at $4,077,128.16. The disclosure for this sale can be found here. 1.60% of the stock is currently owned by corporate insiders.

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.