Packaging Co. of America (NYSE:PKG) Shares Sold by Peapack Gladstone Financial Corp

Peapack Gladstone Financial Corp lessened its holdings in shares of Packaging Co. of America (NYSE:PKG) by 4.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 120,327 shares of the industrial products company’s stock after selling 5,718 shares during the quarter. Peapack Gladstone Financial Corp owned approximately 0.13% of Packaging Co. of America worth $25,918,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. State Street Corp increased its stake in Packaging Co. of America by 3.2% during the third quarter. State Street Corp now owns 3,948,546 shares of the industrial products company’s stock worth $855,212,000 after purchasing an additional 123,050 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of Packaging Co. of America by 3.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,937,113 shares of the industrial products company’s stock valued at $632,654,000 after acquiring an additional 98,223 shares during the period. Victory Capital Management Inc. boosted its holdings in shares of Packaging Co. of America by 1.5% in the second quarter. Victory Capital Management Inc. now owns 2,853,417 shares of the industrial products company’s stock valued at $520,920,000 after acquiring an additional 41,903 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Packaging Co. of America by 0.6% in the third quarter. Geode Capital Management LLC now owns 2,337,296 shares of the industrial products company’s stock valued at $501,896,000 after acquiring an additional 12,936 shares during the period. Finally, Dimensional Fund Advisors LP raised its stake in shares of Packaging Co. of America by 8.1% during the second quarter. Dimensional Fund Advisors LP now owns 1,153,732 shares of the industrial products company’s stock worth $210,636,000 after purchasing an additional 86,005 shares during the last quarter. Hedge funds and other institutional investors own 89.78% of the company’s stock.

Insider Buying and Selling at Packaging Co. of America

In other news, CFO Robert P. Mundy sold 12,500 shares of Packaging Co. of America stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $240.62, for a total value of $3,007,750.00. Following the transaction, the chief financial officer now directly owns 43,954 shares of the company’s stock, valued at $10,576,211.48. The trade was a 22.14 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Donald R. Shirley sold 8,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $240.20, for a total value of $1,921,600.00. Following the transaction, the senior vice president now directly owns 15,725 shares in the company, valued at $3,777,145. This trade represents a 33.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 33,300 shares of company stock worth $8,064,152 in the last 90 days. 1.60% of the stock is owned by company insiders.

Packaging Co. of America Trading Up 0.2 %

NYSE:PKG opened at $239.03 on Friday. The company has a market capitalization of $21.47 billion, a PE ratio of 27.86, a price-to-earnings-growth ratio of 3.35 and a beta of 0.77. The company has a quick ratio of 1.98, a current ratio of 2.95 and a debt-to-equity ratio of 0.58. Packaging Co. of America has a 52-week low of $159.57 and a 52-week high of $250.82. The stock has a fifty day simple moving average of $233.12 and a 200-day simple moving average of $208.37.

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

Packaging Co. of America Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Friday, December 20th will be issued a $1.25 dividend. This represents a $5.00 annualized dividend and a yield of 2.09%. The ex-dividend date of this dividend is Friday, December 20th. Packaging Co. of America’s dividend payout ratio (DPR) is 58.28%.

Wall Street Analysts Forecast Growth

PKG has been the subject of several research analyst reports. Citigroup increased their price objective on 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. StockNews.com upgraded Packaging Co. of America from a “hold” rating to a “buy” rating in a research report on Tuesday, December 3rd. Wells Fargo & Company increased their price objective on Packaging Co. of America from $235.00 to $253.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th. 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 report on Thursday, October 24th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $221.60.

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.