Congress Wealth Management LLC DE Cuts Stock Holdings in Packaging Co. of America (NYSE:PKG)

Congress Wealth Management LLC DE trimmed its stake in shares of Packaging Co. of America (NYSE:PKG) by 25.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,465 shares of the industrial products company’s stock after selling 1,182 shares during the quarter. Congress Wealth Management LLC DE’s holdings in Packaging Co. of America were worth $780,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the stock. SYM FINANCIAL Corp increased its stake in shares of Packaging Co. of America by 3.1% during the fourth quarter. SYM FINANCIAL Corp now owns 1,405 shares of the industrial products company’s stock worth $316,000 after buying an additional 42 shares during the period. Mather Group LLC. increased its position in shares of Packaging Co. of America by 1.7% in the 4th quarter. Mather Group LLC. now owns 2,586 shares of the industrial products company’s stock valued at $582,000 after purchasing an additional 43 shares during the last quarter. UMB Bank n.a. increased its position in shares of Packaging Co. of America by 3.9% in the 4th quarter. UMB Bank n.a. now owns 1,165 shares of the industrial products company’s stock valued at $262,000 after purchasing an additional 44 shares during the last quarter. AlphaMark Advisors LLC lifted its position in shares of Packaging Co. of America by 3.9% during the 4th quarter. AlphaMark Advisors LLC now owns 1,384 shares of the industrial products company’s stock worth $312,000 after purchasing an additional 52 shares during the last quarter. Finally, Atomi Financial Group Inc. grew its stake in shares of Packaging Co. of America by 3.3% during the fourth quarter. Atomi Financial Group Inc. now owns 1,643 shares of the industrial products company’s stock worth $370,000 after purchasing an additional 52 shares in the last quarter. Hedge funds and other institutional investors own 89.78% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on PKG shares. Seaport Res Ptn upgraded Packaging Co. of America from a “hold” rating to a “strong-buy” rating in a research note on Thursday, February 13th. Citigroup raised their target price on 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. StockNews.com lowered shares of Packaging Co. of America from a “buy” rating to a “hold” rating in a research note on Friday, March 21st. Wells Fargo & Company reduced 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. Finally, Truist Financial reaffirmed a “buy” rating and issued a $265.00 target price (down from $282.00) on shares of Packaging Co. of America in a research report on Thursday, January 30th. Three analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Packaging Co. of America currently has an average rating of “Moderate Buy” and an average price target of $233.00.

Packaging Co. of America Price Performance

PKG stock opened at $198.44 on Friday. The business has a 50 day simple moving average of $211.30 and a 200-day simple moving average of $222.10. The company has a market capitalization of $17.82 billion, a P/E ratio of 22.22, a PEG ratio of 2.41 and a beta of 0.77. Packaging Co. of America has a twelve month low of $169.00 and a twelve month high of $250.82. The company has a current ratio of 2.95, a quick ratio of 1.98 and a debt-to-equity ratio of 0.58.

Packaging Co. of America (NYSE:PKG) last issued its quarterly 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%. As a group, equities analysts anticipate that Packaging Co. of America will post 10.44 EPS for the current year.

Packaging Co. of America Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Friday, March 14th will be paid a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a yield of 2.52%. The ex-dividend date of this dividend is Friday, March 14th. Packaging Co. of America’s dividend payout ratio is presently 55.99%.

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.