Sanctuary Advisors LLC Buys 2,946 Shares of Packaging Co. of America (NYSE:PKG)

Sanctuary Advisors LLC lifted its stake in shares of Packaging Co. of America (NYSE:PKG) by 17.0% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 20,270 shares of the industrial products company’s stock after acquiring an additional 2,946 shares during the quarter. Sanctuary Advisors LLC’s holdings in Packaging Co. of America were worth $4,366,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of PKG. Deseret Mutual Benefit Administrators increased its holdings in Packaging Co. of America by 15.2% during the 3rd quarter. Deseret Mutual Benefit Administrators now owns 371 shares of the industrial products company’s stock worth $80,000 after purchasing an additional 49 shares during the period. Coldstream Capital Management Inc. increased its stake in shares of Packaging Co. of America by 1.4% during the second quarter. Coldstream Capital Management Inc. now owns 3,859 shares of the industrial products company’s stock valued at $704,000 after buying an additional 54 shares during the period. Huntington National Bank raised its holdings in shares of Packaging Co. of America by 0.5% in the third quarter. Huntington National Bank now owns 10,075 shares of the industrial products company’s stock valued at $2,170,000 after acquiring an additional 55 shares in the last quarter. Daiwa Securities Group Inc. increased its position in Packaging Co. of America by 0.6% during the 2nd quarter. Daiwa Securities Group Inc. now owns 9,713 shares of the industrial products company’s stock valued at $1,773,000 after purchasing an additional 56 shares during the period. Finally, Moors & Cabot Inc. increased its position in Packaging Co. of America by 2.1% during the 2nd quarter. Moors & Cabot Inc. now owns 2,689 shares of the industrial products company’s stock valued at $491,000 after buying an additional 56 shares in the last quarter. Institutional investors own 89.78% of the company’s stock.

Packaging Co. of America Stock Down 0.4 %

PKG opened at $238.10 on Monday. The company has a fifty day moving average of $233.62 and a two-hundred day moving average of $209.15. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.98 and a current ratio of 2.95. Packaging Co. of America has a fifty-two week low of $159.57 and a fifty-two week high of $250.82. The stock has a market capitalization of $21.38 billion, a price-to-earnings ratio of 27.75, a PEG ratio of 3.34 and a beta of 0.77.

Packaging Co. of America (NYSE:PKG) last posted its quarterly earnings data on Tuesday, October 22nd. The industrial products company reported $2.65 EPS for the quarter, beating analysts’ consensus estimates of $2.50 by $0.15. Packaging Co. of America had a return on equity of 19.10% and a net margin of 9.46%. The business had revenue of $2.18 billion during the quarter, compared to analysts’ expectations of $2.09 billion. During the same period in the previous year, the business earned $2.05 earnings per share. The business’s revenue was up 14.9% compared to the same quarter last year. On average, research analysts expect that Packaging Co. of America will post 9.07 earnings per share for the current year.

Packaging Co. of America Announces Dividend

The business also recently declared 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 of this dividend is Friday, December 20th. This represents a $5.00 annualized dividend and a dividend yield of 2.10%. Packaging Co. of America’s dividend payout ratio (DPR) is presently 58.28%.

Analysts Set New Price Targets

Several analysts have weighed in on PKG shares. Citigroup boosted their target price on shares of Packaging Co. of America from $199.00 to $221.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 2nd. Wells Fargo & Company lifted their target price on Packaging Co. of America from $235.00 to $253.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. StockNews.com upgraded shares of Packaging Co. of America from a “hold” rating to a “buy” rating in a research note on Saturday. Finally, Truist Financial reiterated a “buy” rating and issued a $252.00 price objective (up previously from $242.00) on shares of Packaging Co. of America in a research note on Thursday, October 24th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $221.60.

Insider Buying and Selling

In other news, SVP Donald R. Shirley sold 8,000 shares of the company’s stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $240.20, for a total transaction of $1,921,600.00. Following the completion of the sale, the senior vice president now owns 15,725 shares of the company’s stock, valued at $3,777,145. This represents a 33.72 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Joseph Vaughn sold 2,300 shares of the business’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $244.89, for a total transaction of $563,247.00. Following the transaction, the senior vice president now owns 9,197 shares in the company, valued at $2,252,253.33. The trade was a 20.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 33,300 shares of company stock worth $8,064,152 in the last 90 days. Insiders own 1.60% of the company’s stock.

Packaging Co. of America Company 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.