Stiles Financial Services Inc Trims Stake in Packaging Co. of America (NYSE:PKG)

Stiles Financial Services Inc reduced its position in Packaging Co. of America (NYSE:PKG) by 15.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,553 shares of the industrial products company’s stock after selling 1,038 shares during the quarter. Stiles Financial Services Inc’s holdings in Packaging Co. of America were worth $1,196,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. AIA Group Ltd increased its holdings in Packaging Co. of America by 4.2% during the third quarter. AIA Group Ltd now owns 7,500 shares of the industrial products company’s stock valued at $1,616,000 after buying an additional 300 shares during the period. Beacon Harbor Wealth Advisors Inc. acquired a new stake in shares of Packaging Co. of America during the third quarter worth $6,110,000. Deseret Mutual Benefit Administrators lifted its stake in shares of Packaging Co. of America by 15.2% during the third quarter. Deseret Mutual Benefit Administrators now owns 371 shares of the industrial products company’s stock worth $80,000 after buying an additional 49 shares during the period. Principal Financial Group Inc. lifted its stake in shares of Packaging Co. of America by 8.4% during the third quarter. Principal Financial Group Inc. now owns 460,518 shares of the industrial products company’s stock worth $99,194,000 after buying an additional 35,614 shares during the period. Finally, Concurrent Investment Advisors LLC lifted its stake in shares of Packaging Co. of America by 16.6% during the third quarter. Concurrent Investment Advisors LLC now owns 9,059 shares of the industrial products company’s stock worth $1,951,000 after buying an additional 1,293 shares during the period. 89.78% of the stock is owned by hedge funds and other institutional investors.

Packaging Co. of America Trading Down 0.9 %

PKG opened at $239.48 on Friday. Packaging Co. of America has a 52 week low of $148.50 and a 52 week high of $245.00. The business has a fifty day simple moving average of $217.31 and a 200-day simple moving average of $197.25. The firm has a market cap of $21.51 billion, a P/E ratio of 27.91, a P/E/G ratio of 3.26 and a beta of 0.76. The company has a quick ratio of 1.71, a current ratio of 2.43 and a debt-to-equity ratio of 0.60.

Packaging Co. of America (NYSE:PKG) last released its quarterly earnings results on Tuesday, October 22nd. The industrial products company reported $2.65 EPS for the quarter, topping the consensus estimate of $2.50 by $0.15. Packaging Co. of America had a return on equity of 19.35% and a net margin of 9.46%. The business had revenue of $2.18 billion during the quarter, compared to analyst estimates of $2.09 billion. During the same period last year, the business posted $2.05 earnings per share. The company’s quarterly revenue was up 14.9% on a year-over-year basis. On average, equities analysts expect that Packaging Co. of America will post 9 earnings per share for the current year.

Packaging Co. of America Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Tuesday, October 15th were paid a dividend of $1.25 per share. The ex-dividend date was Monday, September 16th. This represents a $5.00 annualized dividend and a yield of 2.09%. Packaging Co. of America’s payout ratio is 58.28%.

Analyst Ratings Changes

PKG has been the subject of several research reports. Truist Financial reiterated a “buy” rating and set a $252.00 price objective (up from $242.00) on shares of Packaging Co. of America in a research note on Thursday, October 24th. Citigroup lifted their price objective on shares of Packaging Co. of America from $199.00 to $221.00 and gave the company a “neutral” rating in a report on Wednesday, October 2nd. Wells Fargo & Company lifted their price objective on shares of Packaging Co. of America from $235.00 to $253.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. Finally, StockNews.com lowered shares of Packaging Co. of America from a “buy” rating to a “hold” rating in a research report on Friday, November 1st. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $221.60.

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.