Wahed Invest LLC Grows Position in Packaging Co. of America (NYSE:PKG)

Wahed Invest LLC boosted its holdings in Packaging Co. of America (NYSE:PKG) by 13.0% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,719 shares of the industrial products company’s stock after acquiring an additional 198 shares during the quarter. Wahed Invest LLC’s holdings in Packaging Co. of America were worth $326,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the business. Register Financial Advisors LLC acquired a new stake in shares of Packaging Co. of America during the first quarter valued at $25,000. Neo Ivy Capital Management acquired a new stake in shares of Packaging Co. of America during the fourth quarter valued at $28,000. First Horizon Advisors Inc. boosted its stake in shares of Packaging Co. of America by 60.5% during the fourth quarter. First Horizon Advisors Inc. now owns 183 shares of the industrial products company’s stock valued at $30,000 after acquiring an additional 69 shares during the last quarter. Gables Capital Management Inc. acquired a new stake in shares of Packaging Co. of America during the fourth quarter valued at $31,000. Finally, Headlands Technologies LLC acquired a new stake in shares of Packaging Co. of America during the first quarter valued at $43,000. Hedge funds and other institutional investors own 89.78% of the company’s stock.

Insiders Place Their Bets

In other news, Director Karen E. Gowland acquired 300 shares of Packaging Co. of America stock in a transaction on Wednesday, May 15th. The stock was bought at an average price of $182.06 per share, for a total transaction of $54,618.00. Following the transaction, the director now owns 916 shares of the company’s stock, valued at $166,766.96. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, EVP Charles J. Carter sold 5,389 shares of the firm’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $196.28, for a total transaction of $1,057,752.92. Following the completion of the transaction, the executive vice president now owns 25,539 shares in the company, valued at approximately $5,012,794.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Karen E. Gowland bought 300 shares of the business’s stock in a transaction that occurred on Wednesday, May 15th. The shares were bought at an average price of $182.06 per share, with a total value of $54,618.00. Following the transaction, the director now directly owns 916 shares in the company, valued at $166,766.96. The disclosure for this purchase can be found here. Corporate insiders own 1.60% of the company’s stock.

Analysts Set New Price Targets

PKG has been the topic of several analyst reports. Wells Fargo & Company raised their target price on Packaging Co. of America from $194.00 to $215.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. Bank of America raised their target price on Packaging Co. of America from $197.00 to $200.00 and gave the company a “buy” rating in a report on Monday, June 17th. Truist Financial raised their target price on Packaging Co. of America from $215.00 to $219.00 and gave the company a “buy” rating in a report on Thursday, July 25th. BNP Paribas downgraded Packaging Co. of America from an “outperform” rating to a “neutral” rating and set a $182.00 target price on the stock. in a report on Friday, April 12th. Finally, Citigroup raised their target price on Packaging Co. of America from $181.00 to $187.00 and gave the company a “neutral” rating in a report on Monday, July 8th. Four analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $190.50.

Packaging Co. of America Stock Down 0.7 %

Shares of NYSE PKG traded down $1.31 during mid-day trading on Friday, reaching $196.69. 484,115 shares of the company traded hands, compared to its average volume of 627,580. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.74 and a current ratio of 2.46. The stock has a market cap of $17.66 billion, a PE ratio of 24.75, a price-to-earnings-growth ratio of 5.22 and a beta of 0.77. The company’s fifty day moving average is $186.00 and its two-hundred day moving average is $180.23. Packaging Co. of America has a fifty-two week low of $143.82 and a fifty-two week high of $201.99.

Packaging Co. of America (NYSE:PKG) last announced its earnings results on Tuesday, July 23rd. The industrial products company reported $2.20 earnings per share for the quarter, beating the consensus estimate of $2.14 by $0.06. Packaging Co. of America had a return on equity of 18.39% and a net margin of 9.06%. The firm had revenue of $2.08 billion during the quarter, compared to the consensus estimate of $2.02 billion. During the same quarter in the prior year, the company earned $2.31 EPS. The firm’s revenue for the quarter was up 6.3% compared to the same quarter last year. On average, analysts expect that Packaging Co. of America will post 8.62 earnings per share for the current year.

Packaging Co. of America Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Friday, June 14th were given a $1.25 dividend. The ex-dividend date of this dividend was Friday, June 14th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.54%. Packaging Co. of America’s dividend payout ratio is currently 62.50%.

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.