Golden State Wealth Management LLC Makes New $48,000 Investment in Packaging Co. of America (NYSE:PKG)

Golden State Wealth Management LLC bought a new stake in Packaging Co. of America (NYSE:PKG) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 211 shares of the industrial products company’s stock, valued at approximately $48,000.

Several other hedge funds have also made changes to their positions in the company. Larson Financial Group LLC raised its holdings in 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 valued at $35,000 after buying an additional 115 shares during the period. Fortitude Family Office LLC increased its position in shares of Packaging Co. of America by 150.8% during the fourth quarter. Fortitude Family Office LLC now owns 163 shares of the industrial products company’s stock valued at $37,000 after acquiring an additional 98 shares during the last quarter. Assetmark Inc. raised its stake in shares of Packaging Co. of America by 44.6% in the 3rd quarter. Assetmark Inc. now owns 269 shares of the industrial products company’s stock valued at $58,000 after acquiring an additional 83 shares during the period. Brooklyn Investment Group acquired a new position in shares of Packaging Co. of America in the 3rd quarter worth approximately $64,000. Finally, Allworth Financial LP boosted its position in shares of Packaging Co. of America by 65.1% during the 3rd quarter. Allworth Financial LP now owns 312 shares of the industrial products company’s stock worth $67,000 after purchasing an additional 123 shares during the period. Hedge funds and other institutional investors own 89.78% of the company’s stock.

Insider Activity at Packaging Co. of America

In related news, SVP Joseph Vaughn sold 2,300 shares of the company’s stock in a transaction that occurred 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 directly 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 sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Paul T. Stecko sold 10,500 shares of the stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $244.91, for a total transaction of $2,571,555.00. Following the completion of the transaction, the director now owns 8,881 shares in the company, valued at $2,175,045.71. This represents a 54.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.60% of the stock is currently owned by corporate insiders.

Packaging Co. of America Price Performance

PKG stock opened at $208.39 on Wednesday. The business’s 50-day moving average is $228.91 and its two-hundred day moving average is $221.42. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.95 and a quick ratio of 1.98. The firm has a market capitalization of $18.71 billion, a P/E ratio of 23.34, a P/E/G ratio of 2.40 and a beta of 0.77. Packaging Co. of America has a 1 year low of $163.68 and a 1 year high of $250.82.

Packaging Co. of America (NYSE:PKG) last issued its earnings results on Tuesday, January 28th. The industrial products company reported $2.47 earnings per share for the quarter, missing the consensus estimate of $2.51 by ($0.04). Packaging Co. of America had a net margin of 9.60% and a return on equity of 19.67%. Analysts anticipate that Packaging Co. of America will post 10.6 earnings per share for the current fiscal year.

Packaging Co. of America Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Friday, December 20th were paid a dividend of $1.25 per share. The ex-dividend date of this dividend was Friday, December 20th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.40%. Packaging Co. of America’s payout ratio is currently 55.99%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on PKG. StockNews.com lowered Packaging Co. of America from a “buy” rating to a “hold” rating in a research report on Wednesday, January 29th. Citigroup boosted their price objective on Packaging Co. of America from $232.00 to $235.00 and gave the company a “neutral” rating in a report on Monday, January 6th. Truist Financial restated a “buy” rating and set a $265.00 target price (down from $282.00) on shares of Packaging Co. of America in a report on Thursday, January 30th. Wells Fargo & Company cut their price target on shares of Packaging Co. of America from $253.00 to $236.00 and set an “overweight” rating on the stock in a research note on Thursday, January 30th. Finally, Jefferies Financial Group raised shares of Packaging Co. of America from a “hold” rating to a “buy” rating and raised their price objective for the company from $215.00 to $280.00 in a research note on Wednesday, December 18th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, Packaging Co. of America presently has a consensus rating of “Moderate Buy” and a consensus price target of $233.00.

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.