Stiles Financial Services Inc Sells 1,038 Shares of Packaging Co. of America (NYSE:PKG)

Stiles Financial Services Inc decreased its position in shares of Packaging Co. of America (NYSE:PKG) by 15.7% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,553 shares of the industrial products company’s stock after selling 1,038 shares during the period. Stiles Financial Services Inc’s holdings in Packaging Co. of America were worth $1,196,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in PKG. Victory Capital Management Inc. increased its holdings in Packaging Co. of America by 1.5% during the 2nd quarter. Victory Capital Management Inc. now owns 2,853,417 shares of the industrial products company’s stock valued at $520,920,000 after purchasing an additional 41,903 shares during the period. Boston Partners increased its holdings in Packaging Co. of America by 49.3% during the 1st quarter. Boston Partners now owns 1,446,303 shares of the industrial products company’s stock valued at $274,421,000 after purchasing an additional 477,487 shares during the period. Dimensional Fund Advisors LP boosted its position in Packaging Co. of America by 8.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,153,732 shares of the industrial products company’s stock valued at $210,636,000 after acquiring an additional 86,005 shares in the last quarter. Millennium Management LLC boosted its position in Packaging Co. of America by 34.3% during the 2nd quarter. Millennium Management LLC now owns 1,027,585 shares of the industrial products company’s stock valued at $187,596,000 after acquiring an additional 262,315 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its position in Packaging Co. of America by 5.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 869,341 shares of the industrial products company’s stock valued at $164,985,000 after acquiring an additional 42,465 shares in the last quarter. Hedge funds and other institutional investors own 89.78% of the company’s stock.

Packaging Co. of America Trading Down 0.9 %

NYSE:PKG opened at $239.48 on Friday. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.43 and a quick ratio of 1.71. The firm has a market capitalization of $21.51 billion, a price-to-earnings ratio of 27.91, a price-to-earnings-growth ratio of 3.26 and a beta of 0.76. Packaging Co. of America has a one year low of $148.50 and a one year high of $245.00. The business has a fifty day moving average price of $217.31 and a 200-day moving average price of $197.25.

Packaging Co. of America (NYSE:PKG) last issued its earnings results on Tuesday, October 22nd. The industrial products company reported $2.65 earnings per share for the quarter, topping the consensus estimate of $2.50 by $0.15. The company had revenue of $2.18 billion during the quarter, compared to the consensus estimate of $2.09 billion. Packaging Co. of America had a net margin of 9.46% and a return on equity of 19.35%. Packaging Co. of America’s quarterly revenue was up 14.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.05 EPS. Sell-side analysts forecast that Packaging Co. of America will post 9 EPS for the current year.

Packaging Co. of America Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Tuesday, October 15th were issued a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.09%. The ex-dividend date of this dividend was Monday, September 16th. Packaging Co. of America’s payout ratio is 58.28%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on PKG shares. Citigroup lifted their price objective on 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 reissued a “buy” rating and issued a $252.00 price target (up from $242.00) on shares of Packaging Co. of America in a research report on Thursday, October 24th. StockNews.com lowered shares of Packaging Co. of America from a “buy” rating to a “hold” rating in a research note on Friday, November 1st. Finally, Wells Fargo & Company boosted their target price on shares of Packaging Co. of America from $235.00 to $253.00 and gave the company an “overweight” rating in a research note on Thursday, October 24th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, Packaging Co. of America has a consensus rating of “Hold” and a consensus 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.