Arkadios Wealth Advisors Sells 45 Shares of Packaging Co. of America (NYSE:PKG)

Arkadios Wealth Advisors decreased its position in shares of Packaging Co. of America (NYSE:PKG) by 2.1% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,120 shares of the industrial products company’s stock after selling 45 shares during the period. Arkadios Wealth Advisors’ holdings in Packaging Co. of America were worth $457,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Asset Dedication LLC boosted its stake in Packaging Co. of America by 200.0% during the second quarter. Asset Dedication LLC now owns 168 shares of the industrial products company’s stock valued at $31,000 after buying an additional 112 shares during the last quarter. Central Pacific Bank Trust Division bought a new stake in Packaging Co. of America in the third quarter worth $32,000. Tortoise Investment Management LLC purchased a new stake in Packaging Co. of America during the second quarter valued at $33,000. Headlands Technologies LLC bought a new position in Packaging Co. of America during the first quarter valued at $43,000. Finally, Strategic Financial Concepts LLC purchased a new position in shares of Packaging Co. of America in the 2nd quarter worth $50,000. Hedge funds and other institutional investors own 89.78% of the company’s stock.

Packaging Co. of America Stock Performance

PKG stock opened at $228.79 on Thursday. The firm has a market cap of $20.55 billion, a price-to-earnings ratio of 28.60, a PEG ratio of 3.20 and a beta of 0.77. Packaging Co. of America has a twelve month low of $148.50 and a twelve month high of $231.30. The company has a quick ratio of 1.71, a current ratio of 2.43 and a debt-to-equity ratio of 0.60. The business’s fifty day simple moving average is $213.79 and its two-hundred day simple moving average is $195.09.

Packaging Co. of America (NYSE:PKG) last announced its quarterly earnings data on Tuesday, October 22nd. The industrial products company reported $2.65 earnings per share for the quarter, beating analysts’ consensus estimates of $2.50 by $0.15. The company had revenue of $2.18 billion during the quarter, compared to analyst estimates of $2.09 billion. Packaging Co. of America had a net margin of 9.46% and a return on equity of 19.35%. The firm’s revenue for the quarter was up 14.9% on a year-over-year basis. During the same quarter last year, the business posted $2.05 EPS. Analysts predict that Packaging Co. of America will post 9 earnings per share for the current year.

Packaging Co. of America Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Tuesday, October 15th were paid a $1.25 dividend. The ex-dividend date of this dividend was Monday, September 16th. This represents a $5.00 annualized dividend and a yield of 2.19%. Packaging Co. of America’s dividend payout ratio (DPR) is currently 62.50%.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. Citigroup upped their target price on shares of Packaging Co. of America from $199.00 to $221.00 and gave the company a “neutral” rating in a research report on Wednesday, October 2nd. Truist Financial reaffirmed a “buy” rating and issued a $252.00 price objective (up from $242.00) on shares of Packaging Co. of America in a research note on Thursday, October 24th. Wells Fargo & Company increased their price target on Packaging Co. of America from $235.00 to $253.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. Finally, StockNews.com raised shares of Packaging Co. of America from a “hold” rating to a “buy” rating in a research note on Tuesday, October 22nd. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average 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.