Community Bank & Trust Waco Texas Sells 100 Shares of Packaging Co. of America (NYSE:PKG)

Community Bank & Trust Waco Texas trimmed its stake in Packaging Co. of America (NYSE:PKG) by 5.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,849 shares of the industrial products company’s stock after selling 100 shares during the quarter. Community Bank & Trust Waco Texas’ holdings in Packaging Co. of America were worth $416,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of PKG. Larson Financial Group LLC boosted its stake in shares of Packaging Co. of America by 234.7% during the 3rd quarter. Larson Financial Group LLC now owns 164 shares of the industrial products company’s stock worth $35,000 after acquiring an additional 115 shares during the period. Fortitude Family Office LLC boosted its stake in shares of Packaging Co. of America by 150.8% during the 4th quarter. Fortitude Family Office LLC now owns 163 shares of the industrial products company’s stock worth $37,000 after acquiring an additional 98 shares during the period. Golden State Wealth Management LLC bought a new position in shares of Packaging Co. of America during the 4th quarter worth approximately $48,000. Assetmark Inc. boosted its stake in shares of Packaging Co. of America by 44.6% during the 3rd quarter. Assetmark Inc. now owns 269 shares of the industrial products company’s stock worth $58,000 after acquiring an additional 83 shares during the period. Finally, Brooklyn Investment Group bought a new position in shares of Packaging Co. of America during the 3rd quarter worth approximately $64,000. 89.78% of the stock is currently owned by institutional investors.

Packaging Co. of America Price Performance

Shares of NYSE PKG opened at $209.37 on Tuesday. The stock has a market capitalization of $18.80 billion, a PE ratio of 23.45, a P/E/G ratio of 2.40 and a beta of 0.77. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.95 and a quick ratio of 1.98. The business has a fifty day moving average price of $229.62 and a two-hundred day moving average price of $221.35. Packaging Co. of America has a fifty-two week low of $163.68 and a fifty-two week high of $250.82.

Packaging Co. of America (NYSE:PKG) last announced its quarterly earnings data on Tuesday, January 28th. The industrial products company reported $2.47 earnings per share for the quarter, missing the consensus estimate of $2.51 by ($0.04). Packaging Co. of America had a net margin of 9.60% and a return on equity of 19.67%. As a group, equities analysts predict that Packaging Co. of America will post 10.6 earnings per share for the current fiscal year.

Packaging Co. of America Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Friday, December 20th were issued a $1.25 dividend. The ex-dividend date was Friday, December 20th. This represents a $5.00 annualized dividend and a yield of 2.39%. Packaging Co. of America’s dividend payout ratio is presently 55.99%.

Insider Buying and Selling at Packaging Co. of America

In other news, Director Paul T. Stecko sold 10,500 shares of the business’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $244.91, for a total transaction of $2,571,555.00. Following the completion of the transaction, the director now owns 8,881 shares of the company’s stock, valued at approximately $2,175,045.71. The trade was a 54.18 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Joseph Vaughn sold 2,300 shares of the business’s stock in a transaction on 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. This trade represents a 20.01 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.60% of the company’s stock.

Wall Street Analysts Forecast Growth

PKG has been the subject of several research analyst reports. Truist Financial reiterated a “buy” rating and set a $265.00 target price (down from $282.00) on shares of Packaging Co. of America in a research note on Thursday, January 30th. Citigroup lifted their target price on Packaging Co. of America from $232.00 to $235.00 and gave the stock a “neutral” rating in a research note on Monday, January 6th. Wells Fargo & Company reduced their price target on Packaging Co. of America from $253.00 to $236.00 and set an “overweight” rating for the company in a research note on Thursday, January 30th. StockNews.com downgraded Packaging Co. of America from a “buy” rating to a “hold” rating in a research note on Wednesday, January 29th. Finally, Jefferies Financial Group upgraded Packaging Co. of America from a “hold” rating to a “buy” rating and boosted their price target for the company from $215.00 to $280.00 in a research note on Wednesday, December 18th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $233.00.

About Packaging Co. of America

Packaging Corporation of America engages in the production of container products. It operates through the following segments: Packaging, Paper, and Corporate and Other. The Packaging segment offers a variety of corrugated packaging products, such as conventional shipping containers. The Paper segment manufactures and sells a range of papers, including communication-based papers, and pressure sensitive papers.