Packaging Co. of America (NYSE:PKG) Shares Bought by Ieq Capital LLC

Ieq Capital LLC grew its position in Packaging Co. of America (NYSE:PKG) by 21.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,940 shares of the industrial products company’s stock after acquiring an additional 1,221 shares during the quarter. Ieq Capital LLC’s holdings in Packaging Co. of America were worth $1,563,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. SYM FINANCIAL Corp raised its stake in Packaging Co. of America by 3.1% during the 4th quarter. SYM FINANCIAL Corp now owns 1,405 shares of the industrial products company’s stock valued at $316,000 after acquiring an additional 42 shares during the last quarter. Mather Group LLC. lifted its holdings in shares of Packaging Co. of America by 1.7% during the fourth quarter. Mather Group LLC. now owns 2,586 shares of the industrial products company’s stock worth $582,000 after purchasing an additional 43 shares during the period. UMB Bank n.a. grew its position in Packaging Co. of America by 3.9% in the 4th quarter. UMB Bank n.a. now owns 1,165 shares of the industrial products company’s stock valued at $262,000 after buying an additional 44 shares during the last quarter. Deseret Mutual Benefit Administrators increased its stake in Packaging Co. of America by 15.2% in the 3rd quarter. Deseret Mutual Benefit Administrators now owns 371 shares of the industrial products company’s stock valued at $80,000 after buying an additional 49 shares during the period. Finally, AlphaMark Advisors LLC raised its position in Packaging Co. of America by 3.9% during the 4th quarter. AlphaMark Advisors LLC now owns 1,384 shares of the industrial products company’s stock worth $312,000 after buying an additional 52 shares during the last quarter. 89.78% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, SVP Joseph Vaughn sold 2,300 shares of the company’s stock in a transaction that occurred 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 sale, the senior vice president now owns 9,197 shares of the company’s stock, valued at approximately $2,252,253.33. This represents a 20.01 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.70% of the company’s stock.

Analyst Ratings Changes

PKG has been the topic of several analyst reports. StockNews.com downgraded shares of Packaging Co. of America from a “buy” rating to a “hold” rating in a report on Wednesday, January 29th. 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, January 30th. Citigroup increased 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. Seaport Res Ptn raised Packaging Co. of America from a “hold” rating to a “strong-buy” rating in a report on Thursday, February 13th. Finally, Jefferies Financial Group raised Packaging Co. of America from a “hold” rating to a “buy” rating and upped their price objective for the stock from $215.00 to $280.00 in a report on Wednesday, December 18th. Three research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock 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 $209.63 on Tuesday. The business has a 50 day moving average price of $223.54 and a 200 day moving average price of $222.29. The company has a market capitalization of $18.83 billion, a P/E ratio of 23.47, a PEG ratio of 2.41 and a beta of 0.77. Packaging Co. of America has a 1-year low of $169.00 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 9.60% and a return on equity of 19.67%. Sell-side analysts expect that Packaging Co. of America will post 10.44 EPS for the current fiscal year.

Packaging Co. of America Dividend Announcement

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

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.