3,532 Shares in Packaging Co. of America (NYSE:PKG) Purchased by Strategy Asset Managers LLC

Strategy Asset Managers LLC acquired a new position in shares of Packaging Co. of America (NYSE:PKG) in the third quarter, Holdings Channel.com reports. The institutional investor acquired 3,532 shares of the industrial products company’s stock, valued at approximately $761,000.

A number of other large investors have also added to or reduced their stakes in the stock. PNC Financial Services Group Inc. increased its holdings in Packaging Co. of America by 1.2% during the third quarter. PNC Financial Services Group Inc. now owns 60,254 shares of the industrial products company’s stock worth $12,979,000 after buying an additional 735 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in Packaging Co. of America during the third quarter worth about $916,000. Prospera Financial Services Inc increased its holdings in Packaging Co. of America by 2.3% during the third quarter. Prospera Financial Services Inc now owns 9,410 shares of the industrial products company’s stock worth $2,029,000 after buying an additional 212 shares during the last quarter. Caprock Group LLC increased its holdings in Packaging Co. of America by 2.6% during the third quarter. Caprock Group LLC now owns 2,465 shares of the industrial products company’s stock worth $534,000 after buying an additional 63 shares during the last quarter. Finally, Quest Partners LLC increased its holdings in Packaging Co. of America by 256.3% during the third quarter. Quest Partners LLC now owns 7,729 shares of the industrial products company’s stock worth $1,665,000 after buying an additional 5,560 shares during the last quarter. Hedge funds and other institutional investors own 89.78% of the company’s stock.

Insider Activity

In other Packaging Co. of America 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 shares were sold at an average price of $240.20, for a total transaction of $1,921,600.00. Following the completion of the sale, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Robert P. Mundy sold 12,500 shares of Packaging Co. of America stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $240.62, for a total transaction of $3,007,750.00. Following the sale, the chief financial officer now owns 43,954 shares of the company’s stock, valued at approximately $10,576,211.48. The trade was a 22.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.70% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Citigroup lifted their target price on shares of Packaging Co. of America from $199.00 to $221.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 2nd. Truist Financial reiterated a “buy” rating and issued a $252.00 target price (up previously from $242.00) on shares of Packaging Co. of America in a research note on Thursday, October 24th. Wells Fargo & Company lifted their target price on shares of Packaging Co. of America from $235.00 to $253.00 and gave the stock an “overweight” rating in a research note on Thursday, October 24th. Finally, StockNews.com downgraded shares of Packaging Co. of America from a “buy” rating to a “hold” rating in a research note on Wednesday. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, Packaging Co. of America currently has an average rating of “Hold” and an average price target of $221.60.

Packaging Co. of America Price Performance

PKG stock opened at $238.31 on Wednesday. The firm has a 50 day moving average of $222.57 and a 200-day moving average of $201.18. 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 $148.50 and a 12 month high of $245.00. The firm has a market capitalization of $21.40 billion, a P/E ratio of 27.78, a price-to-earnings-growth ratio of 3.31 and a beta of 0.76.

Packaging Co. of America (NYSE:PKG) last released its quarterly earnings data on Tuesday, October 22nd. The industrial products company reported $2.65 EPS for the quarter, beating analysts’ consensus estimates of $2.50 by $0.15. Packaging Co. of America had a net margin of 9.46% and a return on equity of 19.10%. The company had revenue of $2.18 billion during the quarter, compared to analyst estimates of $2.09 billion. During the same period last year, the business earned $2.05 earnings per share. Packaging Co. of America’s revenue was up 14.9% compared to the same quarter last year. As a group, sell-side analysts predict that Packaging Co. of America will post 9.07 earnings per share for the current fiscal year.

Packaging Co. of America Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Tuesday, October 15th were given a $1.25 dividend. The ex-dividend date was Monday, September 16th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.10%. Packaging Co. of America’s dividend payout ratio (DPR) is currently 58.28%.

Packaging Co. of America Profile

Packaging Corporation of America manufactures and sells containerboard and corrugated packaging products in the United States. The company operates through three segments: Packaging, Paper, and Corporate and Other. The Packaging segment offers various containerboard and 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, as well as packaging for meat, fresh fruit and vegetables, processed food, beverages, and other industrial and consumer products.