Packaging Co. of America (NYSE:PKG) Stake Lessened by Norman Fields Gottscho Capital Management LLC

Norman Fields Gottscho Capital Management LLC cut its stake in Packaging Co. of America (NYSE:PKG) by 0.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 37,799 shares of the industrial products company’s stock after selling 80 shares during the period. Packaging Co. of America accounts for approximately 2.8% of Norman Fields Gottscho Capital Management LLC’s portfolio, making the stock its 10th largest position. Norman Fields Gottscho Capital Management LLC’s holdings in Packaging Co. of America were worth $8,510,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Nordea Investment Management AB lifted its position in Packaging Co. of America by 4.1% during the fourth quarter. Nordea Investment Management AB now owns 7,438 shares of the industrial products company’s stock valued at $1,676,000 after buying an additional 291 shares during the period. Central Pacific Bank Trust Division increased its stake in shares of Packaging Co. of America by 794.6% in the 4th quarter. Central Pacific Bank Trust Division now owns 1,333 shares of the industrial products company’s stock worth $300,000 after acquiring an additional 1,184 shares in the last quarter. Everence Capital Management Inc. purchased a new position in Packaging Co. of America during the 4th quarter valued at about $698,000. GAMMA Investing LLC lifted its position in Packaging Co. of America by 24.2% during the 4th quarter. GAMMA Investing LLC now owns 2,431 shares of the industrial products company’s stock valued at $547,000 after acquiring an additional 473 shares during the period. Finally, Versant Capital Management Inc boosted its stake in Packaging Co. of America by 121.7% during the fourth quarter. Versant Capital Management Inc now owns 317 shares of the industrial products company’s stock worth $71,000 after acquiring an additional 174 shares in the last quarter. 89.78% of the stock is owned by institutional investors.

Packaging Co. of America Stock Up 0.4 %

PKG stock opened at $226.84 on Tuesday. The stock has a market capitalization of $20.37 billion, a P/E ratio of 26.44, a P/E/G ratio of 3.34 and a beta of 0.79. 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 has a 1-year low of $159.57 and a 1-year high of $250.82. The business has a fifty day moving average price of $236.05 and a 200-day moving average price of $214.12.

Packaging Co. of America (NYSE:PKG) last issued its earnings results on Tuesday, October 22nd. The industrial products company reported $2.65 earnings per share for the quarter, topping analysts’ consensus estimates of $2.50 by $0.15. The business had revenue of $2.18 billion during the quarter, compared to analyst estimates of $2.09 billion. Packaging Co. of America had a return on equity of 19.10% and a net margin of 9.46%. Packaging Co. of America’s revenue was up 14.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.05 EPS. Equities analysts forecast that Packaging Co. of America will post 9.07 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 Wednesday, January 15th. Investors of record on Friday, December 20th will be given a dividend of $1.25 per share. The ex-dividend date is Friday, December 20th. This represents a $5.00 dividend on an annualized basis and a yield of 2.20%. Packaging Co. of America’s dividend payout ratio (DPR) is 58.28%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on PKG shares. Jefferies Financial Group raised shares of Packaging Co. of America from a “hold” rating to a “buy” rating and raised their target price for the company from $215.00 to $280.00 in a research note on Wednesday, December 18th. StockNews.com raised Packaging Co. of America from a “hold” rating to a “buy” rating in a research report on Tuesday, December 24th. Truist Financial boosted their target price on Packaging Co. of America from $252.00 to $282.00 and gave the stock a “buy” rating in a report on Monday. Wells Fargo & Company raised their price target on 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, Citigroup upped 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 research note on Monday. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $238.67.

Insider Buying and Selling

In related news, CFO Robert P. Mundy sold 12,500 shares of the company’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $240.62, for a total transaction of $3,007,750.00. Following the completion of the sale, the chief financial officer now owns 43,954 shares in the company, valued at approximately $10,576,211.48. This represents a 22.14 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Donald R. Shirley sold 8,000 shares of the stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $240.20, for a total value of $1,921,600.00. Following the completion of the transaction, the senior vice president now directly owns 15,725 shares in the company, valued at approximately $3,777,145. This represents a 33.72 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 33,300 shares of company stock worth $8,064,152. 1.60% of the stock is owned by insiders.

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.