TrinityPoint Wealth LLC Sells 1,200 Shares of Packaging Corp Of America (NYSE:PKG)

TrinityPoint Wealth LLC cut its position in Packaging Corp Of America (NYSE:PKG) by 15.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,350 shares of the industrial products company’s stock after selling 1,200 shares during the quarter. TrinityPoint Wealth LLC’s holdings in Packaging Corp Of America were worth $649,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in PKG. Citizens Financial Group Inc RI bought a new position in Packaging Corp Of America during the first quarter worth $32,000. Horizon Investments LLC bought a new position in Packaging Corp Of America during the first quarter worth $247,000. Jaffetilchin Investment Partners LLC bought a new position in Packaging Corp Of America during the first quarter worth $202,000. Nordea Investment Management AB boosted its position in Packaging Corp Of America by 0.5% during the first quarter. Nordea Investment Management AB now owns 31,247 shares of the industrial products company’s stock worth $3,105,000 after purchasing an additional 147 shares during the period. Finally, Marshall Wace LLP boosted its position in Packaging Corp Of America by 181.3% during the first quarter. Marshall Wace LLP now owns 19,113 shares of the industrial products company’s stock worth $1,899,000 after purchasing an additional 12,319 shares during the period. 86.08% of the stock is owned by institutional investors and hedge funds.

A number of research firms have commented on PKG. UBS Group set a $106.00 price objective on shares of Packaging Corp Of America and gave the stock a “buy” rating in a research report on Monday, June 24th. KeyCorp cut shares of Packaging Corp Of America from a “sector weight” rating to an “underweight” rating and set a $89.00 price objective for the company. in a research report on Monday, July 15th. ValuEngine raised shares of Packaging Corp Of America from a “hold” rating to a “buy” rating in a research report on Tuesday, August 6th. Seaport Global Securities cut shares of Packaging Corp Of America from a “buy” rating to a “neutral” rating and set a $98.02 price objective for the company. in a research report on Friday, July 12th. They noted that the move was a valuation call. Finally, Stephens cut shares of Packaging Corp Of America from an “overweight” rating to an “equal weight” rating and set a $100.00 price objective for the company. in a research report on Friday, April 26th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $100.09.

In related news, SVP Donald R. Shirley sold 5,000 shares of the business’s stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $101.48, for a total value of $507,400.00. Following the completion of the transaction, the senior vice president now owns 12,790 shares of the company’s stock, valued at $1,297,929.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Thomas W.H. Walton sold 6,000 shares of the business’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $100.17, for a total value of $601,020.00. Following the completion of the transaction, the senior vice president now directly owns 34,118 shares of the company’s stock, valued at approximately $3,417,600.06. The disclosure for this sale can be found here. Insiders own 1.20% of the company’s stock.

Shares of Packaging Corp Of America stock traded down $1.54 during trading on Friday, reaching $99.58. The company’s stock had a trading volume of 97,348 shares, compared to its average volume of 909,690. The business’s 50-day moving average price is $100.45 and its 200-day moving average price is $97.77. The firm has a market cap of $9.55 billion, a PE ratio of 12.40, a P/E/G ratio of 2.62 and a beta of 1.71. Packaging Corp Of America has a 52 week low of $77.90 and a 52 week high of $118.88. The company has a quick ratio of 2.18, a current ratio of 3.29 and a debt-to-equity ratio of 0.92.

Packaging Corp Of America (NYSE:PKG) last announced its earnings results on Wednesday, July 24th. The industrial products company reported $2.04 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $2.04. The company had revenue of $1.76 billion during the quarter, compared to analysts’ expectations of $1.78 billion. Packaging Corp Of America had a net margin of 11.23% and a return on equity of 29.23%. Packaging Corp Of America’s quarterly revenue was down .4% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.08 earnings per share. Equities analysts predict that Packaging Corp Of America will post 7.7 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Friday, September 13th will be given a $0.79 dividend. The ex-dividend date of this dividend is Thursday, September 12th. This represents a $3.16 dividend on an annualized basis and a dividend yield of 3.17%. Packaging Corp Of America’s payout ratio is presently 39.35%.

About Packaging Corp Of America

Packaging Corporation of America manufactures and sells containerboard and corrugated packaging products primarily in the United States. The company's Packaging segment offers various 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.

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Institutional Ownership by Quarter for Packaging Corp Of America (NYSE:PKG)

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