Smithfield Trust Co Sells 194 Shares of Packaging Co. of America (NYSE:PKG)

Smithfield Trust Co cut its stake in Packaging Co. of America (NYSE:PKG) by 25.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 581 shares of the industrial products company’s stock after selling 194 shares during the quarter. Smithfield Trust Co’s holdings in Packaging Co. of America were worth $131,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the stock. Fortitude Family Office LLC raised its position in Packaging Co. of America by 150.8% in the 4th 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 during the period. Larson Financial Group LLC raised its position in Packaging Co. of America by 234.7% in the 3rd quarter. Larson Financial Group LLC now owns 164 shares of the industrial products company’s stock worth $35,000 after purchasing an additional 115 shares during the period. Centricity Wealth Management LLC purchased a new stake in Packaging Co. of America in the 4th quarter worth about $44,000. Golden State Wealth Management LLC purchased a new position in Packaging Co. of America during the 4th quarter valued at $48,000. Finally, Assetmark Inc. grew its position in 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 last quarter. 89.78% of the stock is currently owned by institutional investors.

Packaging Co. of America Trading Up 1.6 %

NYSE PKG opened at $205.56 on Thursday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.98 and a current ratio of 2.95. The company has a market capitalization of $18.46 billion, a price-to-earnings ratio of 23.02, a price-to-earnings-growth ratio of 2.41 and a beta of 0.77. The company’s 50-day simple moving average is $221.30 and its two-hundred day simple moving average is $222.94. Packaging Co. of America has a one year low of $169.00 and a one year high of $250.82.

Packaging Co. of America (NYSE:PKG) last posted its 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%. Equities analysts forecast that Packaging Co. of America will post 10.44 EPS for the current fiscal year.

Packaging Co. of America Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Friday, March 14th will be paid a $1.25 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $5.00 annualized dividend and a yield of 2.43%. Packaging Co. of America’s dividend payout ratio (DPR) is presently 55.99%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on PKG. StockNews.com upgraded Packaging Co. of America from a “hold” rating to a “buy” rating in a research report on Wednesday, February 26th. Wells Fargo & Company lowered their price objective on shares of 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. Seaport Res Ptn raised shares of Packaging Co. of America from a “hold” rating to a “strong-buy” rating in a research report on Thursday, February 13th. Truist Financial reaffirmed a “buy” rating and set a $265.00 target price (down from $282.00) on shares of Packaging Co. of America in a research report on Thursday, January 30th. Finally, Citigroup raised their target price on shares of Packaging Co. of America from $232.00 to $235.00 and gave the stock a “neutral” rating in a research report on Monday, January 6th. Two equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Packaging Co. of America has an average rating of “Moderate Buy” and an average price target of $233.00.

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.