Gateway Wealth Partners LLC Increases Holdings in Packaging Co. of America (NYSE:PKG)

Gateway Wealth Partners LLC increased its stake in Packaging Co. of America (NYSE:PKG) by 32.6% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 1,525 shares of the industrial products company’s stock after buying an additional 375 shares during the quarter. Gateway Wealth Partners LLC’s holdings in Packaging Co. of America were worth $343,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Central Pacific Bank Trust Division purchased a new position in Packaging Co. of America in the third quarter valued at about $32,000. Larson Financial Group LLC raised its holdings in shares of 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. Fortitude Family Office LLC lifted its stake in Packaging Co. of America by 150.8% in the fourth quarter. Fortitude Family Office LLC now owns 163 shares of the industrial products company’s stock valued at $37,000 after purchasing an additional 98 shares during the last quarter. Assetmark Inc. grew its holdings in Packaging Co. of America by 44.6% during the third quarter. Assetmark Inc. now owns 269 shares of the industrial products company’s stock valued at $58,000 after purchasing an additional 83 shares during the period. Finally, Brooklyn Investment Group purchased a new stake in Packaging Co. of America in the third quarter worth $64,000. Institutional investors own 89.78% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Citigroup upped 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. StockNews.com lowered shares of Packaging Co. of America from a “buy” rating to a “hold” rating in a research report on Wednesday. Truist Financial boosted their price target on shares of Packaging Co. of America from $252.00 to $282.00 and gave the company a “buy” rating in a research report on Monday, January 6th. Wells Fargo & Company lifted their price objective on shares of Packaging Co. of America from $235.00 to $253.00 and gave the company an “overweight” rating in a research note on Thursday, October 24th. Finally, Jefferies Financial Group upgraded Packaging Co. of America from a “hold” rating to a “buy” rating and increased their target price for the stock from $215.00 to $280.00 in a research report on Wednesday, December 18th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, Packaging Co. of America has an average rating of “Moderate Buy” and a consensus target price of $238.67.

Packaging Co. of America Stock Performance

NYSE PKG opened at $215.17 on Thursday. The company’s 50 day simple moving average is $235.31 and its two-hundred day simple moving average is $220.05. 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 stock has a market capitalization of $19.32 billion, a PE ratio of 25.08, a P/E/G ratio of 2.36 and a beta of 0.79.

Packaging Co. of America (NYSE:PKG) last issued its quarterly earnings data on Tuesday, January 28th. The industrial products company reported $2.47 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.51 by ($0.04). Packaging Co. of America had a return on equity of 19.10% and a net margin of 9.46%. Analysts predict that Packaging Co. of America will post 9.08 earnings per share for the current fiscal year.

Packaging Co. of America Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Friday, December 20th were issued a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a dividend yield of 2.32%. The ex-dividend date was Friday, December 20th. Packaging Co. of America’s payout ratio is 55.99%.

Insider Buying and Selling

In related news, SVP Joseph Vaughn sold 2,300 shares of the 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 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Donald R. Shirley sold 8,000 shares of Packaging Co. of America stock in a transaction dated 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 sale, the senior vice president now directly owns 15,725 shares of the company’s stock, valued at approximately $3,777,145. This trade represents a 33.72 % 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 worth $8,064,152. Insiders own 1.60% of the company’s stock.

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.