Packaging Co. of America (NYSE:PKG) Shares Purchased by Robeco Institutional Asset Management B.V.

Robeco Institutional Asset Management B.V. boosted its stake in shares of Packaging Co. of America (NYSE:PKG) by 378.0% in the fourth quarter, Holdings Channel reports. The fund owned 151,285 shares of the industrial products company’s stock after purchasing an additional 119,636 shares during the period. Robeco Institutional Asset Management B.V.’s holdings in Packaging Co. of America were worth $34,059,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Public Sector Pension Investment Board lifted its holdings in shares of Packaging Co. of America by 66.4% during the second quarter. Public Sector Pension Investment Board now owns 3,330 shares of the industrial products company’s stock worth $608,000 after purchasing an additional 1,329 shares during the period. Creative Planning lifted its stake in shares of Packaging Co. of America by 7.5% in the 2nd quarter. Creative Planning now owns 16,308 shares of the industrial products company’s stock worth $2,977,000 after acquiring an additional 1,137 shares during the period. NewEdge Advisors LLC boosted its holdings in shares of Packaging Co. of America by 11.7% in the second quarter. NewEdge Advisors LLC now owns 10,847 shares of the industrial products company’s stock valued at $1,980,000 after acquiring an additional 1,138 shares in the last quarter. Quarry LP increased its stake in shares of Packaging Co. of America by 95.9% during the second quarter. Quarry LP now owns 521 shares of the industrial products company’s stock worth $95,000 after acquiring an additional 255 shares during the period. Finally, B. Riley Wealth Advisors Inc. raised its holdings in Packaging Co. of America by 3.0% during the second quarter. B. Riley Wealth Advisors Inc. now owns 3,772 shares of the industrial products company’s stock worth $693,000 after purchasing an additional 111 shares in the last quarter. 89.78% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Packaging Co. of America

In related news, SVP Donald R. Shirley sold 8,000 shares of Packaging Co. of America stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $240.20, for a total transaction of $1,921,600.00. Following the completion of the transaction, the senior vice president now directly owns 15,725 shares in the company, valued at $3,777,145. The trade was a 33.72 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Joseph Vaughn sold 2,300 shares of the stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $244.89, for a total value of $563,247.00. Following the sale, the senior vice president now owns 9,197 shares in the company, valued at approximately $2,252,253.33. This trade represents a 20.01 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 33,300 shares of company stock valued at $8,064,152 over the last quarter. Corporate insiders own 1.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on PKG. Truist Financial reaffirmed a “buy” rating and issued a $265.00 price objective (down previously from $282.00) on shares of Packaging Co. of America in a report on Thursday. Jefferies Financial Group upgraded Packaging Co. of America from a “hold” rating to a “buy” rating and lifted their price target for the company from $215.00 to $280.00 in a research note on Wednesday, December 18th. Citigroup upped their price objective on Packaging Co. of America from $232.00 to $235.00 and gave the stock a “neutral” rating in a report on Monday, January 6th. Wells Fargo & Company reduced their target price on Packaging Co. of America from $253.00 to $236.00 and set an “overweight” rating for the company in a report on Thursday. Finally, StockNews.com cut shares of Packaging Co. of America from a “buy” rating to a “hold” rating in a research note on Wednesday. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, Packaging Co. of America presently has an average rating of “Moderate Buy” and an average price target of $233.00.

Packaging Co. of America Stock Performance

NYSE PKG opened at $214.22 on Friday. The business has a 50 day moving average price of $234.69 and a 200 day moving average price of $220.01. The company has a market capitalization of $19.24 billion, a P/E ratio of 24.97, a PEG ratio of 2.36 and a beta of 0.79. Packaging Co. of America has a 1-year low of $159.57 and a 1-year high of $250.82. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.95 and a quick ratio of 1.98.

Packaging Co. of America (NYSE:PKG) last announced its quarterly earnings results on Tuesday, January 28th. The industrial products company reported $2.47 earnings per share for the quarter, missing analysts’ consensus estimates of $2.51 by ($0.04). Packaging Co. of America had a net margin of 9.46% and a return on equity of 19.10%. Sell-side analysts expect that Packaging Co. of America will post 9.08 EPS for the current fiscal year.

Packaging Co. of America Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Friday, December 20th were given a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a yield of 2.33%. The ex-dividend date of this dividend was Friday, December 20th. Packaging Co. of America’s payout ratio is currently 58.28%.

Packaging Co. of America Company Profile

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.