Hartford Investment Management Co. Has $1.25 Million Stock Holdings in Packaging Co. of America (NYSE:PKG)

Hartford Investment Management Co. lowered its holdings in shares of Packaging Co. of America (NYSE:PKG) by 1.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,555 shares of the industrial products company’s stock after selling 107 shares during the period. Hartford Investment Management Co.’s holdings in Packaging Co. of America were worth $1,251,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. Certuity LLC bought a new stake in shares of Packaging Co. of America in the 4th quarter valued at $218,000. Portfolio Design Labs LLC increased its stake in Packaging Co. of America by 64.2% in the fourth quarter. Portfolio Design Labs LLC now owns 1,980 shares of the industrial products company’s stock valued at $446,000 after purchasing an additional 774 shares in the last quarter. JSF Financial LLC raised its holdings in shares of Packaging Co. of America by 3.5% during the fourth quarter. JSF Financial LLC now owns 4,668 shares of the industrial products company’s stock valued at $1,051,000 after purchasing an additional 156 shares during the period. Axecap Investments LLC boosted its position in shares of Packaging Co. of America by 8.8% during the 4th quarter. Axecap Investments LLC now owns 20,690 shares of the industrial products company’s stock worth $4,658,000 after purchasing an additional 1,667 shares in the last quarter. Finally, Regents Gate Capital LLP acquired a new stake in shares of Packaging Co. of America in the 4th quarter valued at about $4,292,000. 89.78% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Packaging Co. of America

In other news, Director Paul T. Stecko sold 10,500 shares of the stock in a transaction that occurred on Thursday, November 21st. The shares were 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 directly owns 8,881 shares of the company’s stock, valued at $2,175,045.71. This represents a 54.18 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Joseph Vaughn sold 2,300 shares of Packaging Co. of America stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $244.89, for a total transaction of $563,247.00. Following the completion of the sale, the senior vice president now directly owns 9,197 shares in the company, 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. Corporate insiders own 1.60% of the company’s stock.

Wall Street Analyst Weigh In

PKG has been the topic of several recent research reports. Jefferies Financial Group upgraded Packaging Co. of America from a “hold” rating to a “buy” rating and increased their price target for the stock from $215.00 to $280.00 in a report on Wednesday, December 18th. StockNews.com cut Packaging Co. of America from a “buy” rating to a “hold” rating in a report on Wednesday, January 29th. Wells Fargo & Company decreased their price target on shares of 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. Citigroup raised their price objective on shares of Packaging Co. of America from $232.00 to $235.00 and gave the company a “neutral” rating in a research note on Monday, January 6th. Finally, Truist Financial reissued a “buy” rating and set a $265.00 target price (down from $282.00) on shares of Packaging Co. of America in a research report on Thursday, January 30th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, Packaging Co. of America has an average rating of “Moderate Buy” and a consensus target price of $233.00.

Packaging Co. of America Stock Performance

NYSE PKG opened at $212.54 on Friday. The company has a fifty day moving average price of $226.87 and a 200-day moving average price of $221.33. The firm has a market cap of $19.09 billion, a price-to-earnings ratio of 23.80, a PEG 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. Packaging Co. of America has a 1 year low of $165.20 and a 1 year high of $250.82.

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

Packaging Co. of America Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Friday, December 20th were given a $1.25 dividend. The ex-dividend date was Friday, December 20th. This represents a $5.00 annualized dividend and a yield of 2.35%. Packaging Co. of America’s dividend payout ratio is currently 55.99%.

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.