Cerity Partners LLC bought a new position in shares of Packaging Co. of America (NYSE:PKG – Get Rating) in Q1, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 1,555 shares of the industrial products company, valued at around $242,000.

A number of other hedge funds have also recently changed their holdings in the company. Mascoma Wealth Management LLC purchased a new stake in Packaging Co. of America in Q1 worth approximately $25,000. Exane Derivatives took a new stake in Packaging Co. of America in the 1st quarter for a value of approximately $82,000. 180 Wealth Advisors LLC bought a new stake in Packaging Co. of America in Q1 worth approximately $226,000. Oak Asset Management LLC purchased a new stake in Packaging Co. of America in Q1 worth approximately $209,000. Finally, Empirical Finance LLC acquired a new stake in Packaging Co. of America in the 1st quarter for a value of approximately $250,000. 91.01% of the shares are held by institutional investors and hedge funds.

In other Packaging Co. of America news, Executive Vice President Charles J. Carter sold 7,347 shares in a trade that took place on Wednesday, April 27. The shares were sold at an average price of $163.00, for a total value of $1,197,561.00. Following the sale, the executive vice president now directly owns 23,996 shares of the company, valued at approximately $3,911,348. The transaction was disclosed in a filing with the Securities & Exchange Commission, accessible via the SEC’s website. Additionally, Chief Financial Officer Robert P. Mundy sold 13,800 shares in a trade that took place on Monday, June 6. The stock was sold at an average price of $160.30, for a total transaction of $2,212,140.00. Following the completion of the sale, the CFO now owns 38,799 shares of the company, valued at $6,219,479.70. The disclosure of this sale can be found here. Company insiders own 1.60% of the company’s shares.

Shares of PKG opened at $135.44 on Friday. The stock has a market capitalization of $12.69 billion, a P/E ratio of 13.85, a PEG ratio of 2.40 and a beta of 0.80. The company has a current ratio of 2.96, a quick ratio of 1.99 and a debt ratio of 0.66. The company’s 50-day moving average is $148.57 and its 200-day moving average is $149.05. Packaging Co. of America has a 12 month low of $124.78 and a 12 month high of $168.50.

Packaging Co. of America (NYSE:PKG – Get Rating) last reported quarterly results on Monday, April 25. The industrial products company reported EPS of $2.72 for the quarter, beating consensus analyst estimates of $2.53 by $0.19. The company posted revenue of $2.14 billion for the quarter, versus $2.05 billion expected by analysts. Packaging Co. of America achieved a net margin of 11.50% and a return on equity of 27.11%. Packaging Co. of America revenue increased 18.2% over the same quarter last year. During the same period a year earlier, the company posted EPS of $1.77. On average, stock analysts predict Packaging Co. of America will post an EPS of 11.66 for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, July 15. Investors of record on Wednesday, June 15 will receive a dividend of $1.25 per share. This is a boost from Packaging Co. of America’s previous quarterly dividend of $1.00. This represents a dividend of $5.00 on an annualized basis and a dividend yield of 3.69%. The ex-date of this dividend is Tuesday, June 14. The Packaging Co. of America’s dividend payout ratio is currently 51.12%.

A number of equity research analysts have published reports on the stock. Argus raised its price target on shares of Packaging Co. of America from $160.00 to $176.00 in a Friday, April 29 research report. Wells Fargo & Company raised its price target on shares of Packaging Co. of America from $154.00 to $162.00 in a Thursday, April 28 research note. Truist Financial raised its price target on shares of Packaging Co. of America from $170.00 to $182.00 in a Wednesday, April 27 research note. Deutsche Bank Aktiengesellschaft raised its price target on shares of Packaging Co. of America from $141.00 to $158.00 and gave the company a “holding” rating in a Monday, April 18 research note. Finally, Citigroup lowered its price target on shares of Packaging Co. of America from $163.00 to $144.00 and set a “neutral” rating on the stock in a Tuesday, June 21 research note. Five analysts gave the stock a hold rating and three gave the stock a buy rating. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $161.86.

Packaging Co. of America Profile (Get a rating)

Packaging Corporation of America manufactures and sells corrugated cardboard and corrugated packaging products in the United States. The Company operates through the packaging and paper segments. The Packaging segment offers various corrugated and corrugated cardboard packaging products, such as conventional shipping containers used to protect and transport manufactured goods; multicolored boxes and displays that help market the packaged product at retail outlets; and protective honeycomb packaging products, as well as packaging for meat, fresh fruits and vegetables, processed foods, beverages and other industrial and consumer products.

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