Y Intercept Hong Kong Ltd Makes New Investment in Packaging Co. of America (NYSE:PKG)

Y Intercept Hong Kong Ltd acquired a new position in Packaging Co. of America (NYSE:PKG) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 11,210 shares of the industrial products company’s stock, valued at approximately $2,524,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. State Street Corp raised its stake in shares of Packaging Co. of America by 3.2% during the third quarter. State Street Corp now owns 3,948,546 shares of the industrial products company’s stock valued at $855,212,000 after acquiring an additional 123,050 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Packaging Co. of America by 3.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,937,113 shares of the industrial products company’s stock valued at $632,654,000 after acquiring an additional 98,223 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Packaging Co. of America by 0.6% during the third quarter. Geode Capital Management LLC now owns 2,337,296 shares of the industrial products company’s stock valued at $501,896,000 after acquiring an additional 12,936 shares in the last quarter. FMR LLC raised its stake in shares of Packaging Co. of America by 3.4% during the third quarter. FMR LLC now owns 1,076,350 shares of the industrial products company’s stock valued at $231,846,000 after acquiring an additional 35,827 shares in the last quarter. Finally, Stifel Financial Corp raised its stake in shares of Packaging Co. of America by 1,462.2% during the third quarter. Stifel Financial Corp now owns 573,073 shares of the industrial products company’s stock valued at $123,440,000 after acquiring an additional 536,389 shares in the last quarter. Institutional investors own 89.78% of the company’s stock.

Insiders Place Their Bets

In other news, SVP Joseph Vaughn sold 2,300 shares of Packaging Co. of America stock in a transaction on Tuesday, December 3rd. The shares were 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 approximately $2,252,253.33. The trade was a 20.01 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 1.70% of the company’s stock.

Packaging Co. of America Price Performance

NYSE PKG opened at $209.63 on Tuesday. The firm’s fifty day simple moving average is $223.54 and its two-hundred day simple moving average is $222.29. The company has a current ratio of 2.95, a quick ratio of 1.98 and a debt-to-equity ratio of 0.58. Packaging Co. of America has a 12-month low of $169.00 and a 12-month high of $250.82. The firm has a market capitalization of $18.83 billion, a P/E ratio of 23.47, a P/E/G ratio of 2.41 and a beta of 0.77.

Packaging Co. of America (NYSE:PKG) last released its quarterly earnings results on Tuesday, January 28th. The industrial products company reported $2.47 earnings per share (EPS) for the quarter, missing the consensus estimate 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%. Analysts forecast that Packaging Co. of America will post 10.44 EPS for the current fiscal year.

Packaging Co. of America Dividend Announcement

The company 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 yield of 2.39%. The ex-dividend date was Friday, December 20th. Packaging Co. of America’s dividend payout ratio is currently 55.99%.

Analysts Set New Price Targets

Several research firms have recently weighed in on PKG. 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. StockNews.com lowered shares of Packaging Co. of America from a “buy” rating to a “hold” rating in a report on Wednesday, January 29th. Citigroup lifted 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 report on Monday, January 6th. Seaport Res Ptn raised shares of Packaging Co. of America from a “hold” rating to a “strong-buy” rating in a report on Thursday, February 13th. Finally, Truist Financial reissued a “buy” rating and set a $265.00 price objective (down from $282.00) on shares of Packaging Co. of America in a report on Thursday, January 30th. Three research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target 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.