Aldebaran Financial Inc. Acquires Shares of 1,000 Packaging Co. of America (NYSE:PKG)

Aldebaran Financial Inc. bought a new position in shares of Packaging Co. of America (NYSE:PKG) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 1,000 shares of the industrial products company’s stock, valued at approximately $215,000.

Other hedge funds also recently modified their holdings of the company. Central Pacific Bank Trust Division acquired a new stake in Packaging Co. of America during the third quarter worth about $32,000. Larson Financial Group LLC increased its stake in Packaging Co. of America by 234.7% in the third quarter. Larson Financial Group LLC now owns 164 shares of the industrial products company’s stock valued at $35,000 after acquiring an additional 115 shares during the last quarter. Asset Dedication LLC increased its stake in Packaging Co. of America by 200.0% in the second quarter. Asset Dedication LLC now owns 168 shares of the industrial products company’s stock valued at $31,000 after acquiring an additional 112 shares during the last quarter. Tortoise Investment Management LLC acquired a new position in Packaging Co. of America during the second quarter valued at approximately $33,000. Finally, Assetmark Inc. lifted its stake in Packaging Co. of America by 44.6% during the third quarter. Assetmark Inc. now owns 269 shares of the industrial products company’s stock worth $58,000 after purchasing an additional 83 shares during the last quarter. Institutional investors own 89.78% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on PKG. StockNews.com raised Packaging Co. of America from a “hold” rating to a “buy” rating in a report on Tuesday, December 3rd. Wells Fargo & Company increased their target price on shares of Packaging Co. of America from $235.00 to $253.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. Truist Financial reaffirmed a “buy” rating and set a $252.00 price target (up from $242.00) on shares of Packaging Co. of America in a report on Thursday, October 24th. Finally, Citigroup raised 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. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $221.60.

Insiders Place Their Bets

In other news, SVP Joseph Vaughn sold 2,300 shares of the business’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $244.89, for a total value of $563,247.00. Following the transaction, the senior vice president now directly owns 9,197 shares of the company’s stock, valued at $2,252,253.33. The trade was a 20.01 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Robert P. Mundy sold 12,500 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $240.62, for a total value of $3,007,750.00. Following the sale, the chief financial officer now directly owns 43,954 shares of the company’s stock, valued at $10,576,211.48. This represents a 22.14 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 33,300 shares of company stock worth $8,064,152. 1.60% of the stock is currently owned by insiders.

Packaging Co. of America Trading Up 0.2 %

Shares of NYSE PKG opened at $238.64 on Thursday. The firm has a 50 day moving average price of $232.58 and a two-hundred day moving average price of $208.15. The stock has a market cap of $21.43 billion, a P/E ratio of 27.81, a price-to-earnings-growth ratio of 3.41 and a beta of 0.77. Packaging Co. of America has a 52-week low of $159.57 and a 52-week high of $250.82. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.98 and a current ratio of 2.95.

Packaging Co. of America (NYSE:PKG) last announced its earnings results on Tuesday, October 22nd. The industrial products company reported $2.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.50 by $0.15. The business had revenue of $2.18 billion during the quarter, compared to analyst estimates of $2.09 billion. Packaging Co. of America had a return on equity of 19.10% and a net margin of 9.46%. Packaging Co. of America’s revenue for the quarter was up 14.9% compared to the same quarter last year. During the same period last year, the company earned $2.05 EPS. As a group, equities analysts forecast that Packaging Co. of America will post 9.07 EPS for the current year.

Packaging Co. of America Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Friday, December 20th will be given a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a yield of 2.10%. The ex-dividend date is Friday, December 20th. Packaging Co. of America’s dividend payout ratio is presently 58.28%.

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.