Fifth Third Bancorp Sells 813 Shares of Packaging Co. of America (NYSE:PKG)

Fifth Third Bancorp cut its stake in Packaging Co. of America (NYSE:PKG) by 1.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 78,922 shares of the industrial products company’s stock after selling 813 shares during the period. Fifth Third Bancorp’s holdings in Packaging Co. of America were worth $17,768,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Sanctuary Advisors LLC grew its position in Packaging Co. of America by 17.0% during the third quarter. Sanctuary Advisors LLC now owns 20,270 shares of the industrial products company’s stock worth $4,366,000 after buying an additional 2,946 shares in the last quarter. Principal Financial Group Inc. lifted its position in shares of Packaging Co. of America by 8.4% in the 3rd quarter. Principal Financial Group Inc. now owns 460,518 shares of the industrial products company’s stock worth $99,194,000 after acquiring an additional 35,614 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its holdings in shares of Packaging Co. of America by 227.5% during the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 32,243 shares of the industrial products company’s stock worth $6,945,000 after purchasing an additional 22,397 shares in the last quarter. Citigroup Inc. increased its position in shares of Packaging Co. of America by 30.7% during the third quarter. Citigroup Inc. now owns 115,005 shares of the industrial products company’s stock valued at $24,772,000 after purchasing an additional 27,018 shares during the period. Finally, GAMMA Investing LLC raised its stake in shares of Packaging Co. of America by 24.2% in the fourth quarter. GAMMA Investing LLC now owns 2,431 shares of the industrial products company’s stock valued at $547,000 after purchasing an additional 473 shares in the last quarter. 89.78% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. Wells Fargo & Company lifted their price target 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. Citigroup upped their target price 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. StockNews.com raised Packaging Co. of America from a “hold” rating to a “buy” rating in a report on Tuesday, December 24th. Truist Financial increased their target price on Packaging Co. of America from $252.00 to $282.00 and gave the stock a “buy” rating in a report on Monday, January 6th. Finally, Jefferies Financial Group raised Packaging Co. of America from a “hold” rating to a “buy” rating and boosted their price target for the company from $215.00 to $280.00 in a research note on Wednesday, December 18th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, Packaging Co. of America presently has an average rating of “Moderate Buy” and an average price target of $238.67.

Packaging Co. of America Trading Up 0.4 %

Shares of PKG opened at $240.08 on Friday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.98 and a current ratio of 2.95. The company has a market cap of $21.56 billion, a price-to-earnings ratio of 27.98, a PEG ratio of 2.36 and a beta of 0.79. The stock has a fifty day moving average price of $235.85 and a two-hundred day moving average price of $219.03. Packaging Co. of America has a 52-week low of $159.57 and a 52-week high of $250.82.

Packaging Co. of America Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Friday, December 20th were given a dividend of $1.25 per share. The ex-dividend date of this dividend was Friday, December 20th. This represents a $5.00 annualized dividend and a yield of 2.08%. Packaging Co. of America’s dividend payout ratio (DPR) is 58.28%.

Insiders Place Their Bets

In other news, Director Paul T. Stecko sold 10,500 shares of the company’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $244.91, for a total transaction of $2,571,555.00. Following the transaction, the director now owns 8,881 shares of the company’s stock, valued at $2,175,045.71. This represents a 54.18 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Joseph Vaughn sold 2,300 shares of Packaging Co. of America stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $244.89, for a total value of $563,247.00. Following the completion of the sale, the senior vice president now owns 9,197 shares of the company’s stock, valued at approximately $2,252,253.33. The trade was a 20.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 33,300 shares of company stock valued at $8,064,152 in the last 90 days. 1.60% of the stock is currently owned by insiders.

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.