Patrick M Sweeney & Associates Inc. Decreases Stake in Packaging Co. of America (NYSE:PKG)

Patrick M Sweeney & Associates Inc. reduced its stake in Packaging Co. of America (NYSE:PKG) by 8.6% during the fourth quarter, Holdings Channel.com reports. The firm owned 900 shares of the industrial products company’s stock after selling 85 shares during the period. Patrick M Sweeney & Associates Inc.’s holdings in Packaging Co. of America were worth $203,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of PKG. State Street Corp increased its stake in shares of 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 valued at $855,212,000 after buying an additional 123,050 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of Packaging Co. of America by 3.5% during 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 buying an additional 98,223 shares during the period. Geode Capital Management LLC increased its stake in shares of Packaging Co. of America by 0.6% during 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 buying an additional 12,936 shares during the period. FMR LLC increased its stake in shares of Packaging Co. of America by 3.4% during the third quarter. FMR LLC now owns 1,076,350 shares of the industrial products company’s stock valued at $231,846,000 after buying an additional 35,827 shares during the period. Finally, Stifel Financial Corp increased its stake in shares of Packaging Co. of America by 1,462.2% during the third quarter. Stifel Financial Corp now owns 573,073 shares of the industrial products company’s stock valued at $123,440,000 after buying an additional 536,389 shares during the period. 89.78% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, SVP Donald R. Shirley sold 8,000 shares of the business’s stock in a transaction 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 completion of the transaction, the senior vice president now owns 15,725 shares in the company, valued at $3,777,145. The trade was a 33.72 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Joseph Vaughn sold 2,300 shares of the business’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $244.89, for a total value of $563,247.00. Following the completion of the transaction, the senior vice president now owns 9,197 shares of the company’s stock, valued at $2,252,253.33. This represents a 20.01 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 33,300 shares of company stock valued at $8,064,152. 1.60% of the stock is currently owned by corporate insiders.

Packaging Co. of America Trading Down 0.3 %

Packaging Co. of America stock opened at $239.63 on Tuesday. The company has a current ratio of 2.95, a quick ratio of 1.98 and a debt-to-equity ratio of 0.58. The business’s fifty day simple moving average is $235.88 and its two-hundred day simple moving average is $219.71. Packaging Co. of America has a 12 month low of $159.57 and a 12 month high of $250.82. The company has a market capitalization of $21.52 billion, a price-to-earnings ratio of 27.93, a price-to-earnings-growth ratio of 2.36 and a beta of 0.79.

Packaging Co. of America Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Friday, December 20th were 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 was Friday, December 20th. Packaging Co. of America’s dividend payout ratio (DPR) is 58.28%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on PKG. Truist Financial boosted their target price on Packaging Co. of America from $252.00 to $282.00 and gave the company a “buy” rating in a research note on Monday, January 6th. Wells Fargo & Company lifted their price target on Packaging Co. of America from $235.00 to $253.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. Jefferies Financial Group upgraded Packaging Co. of America from a “hold” rating to a “buy” rating and lifted their price target for the company from $215.00 to $280.00 in a research report on Wednesday, December 18th. Citigroup lifted their price target on Packaging Co. of America from $232.00 to $235.00 and gave the company a “neutral” rating in a research report on Monday, January 6th. Finally, StockNews.com upgraded Packaging Co. of America from a “hold” rating to a “buy” rating in a research report on Tuesday, December 24th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $238.67.

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.