By otakuyassine3@gmail.com 
Axecap Investments LLC boosted its stake in Packaging Co. of America (NYSE:PKG – Free Report) by 8.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,690 shares of the industrial products company’s stock after purchasing an additional 1,667 shares during the quarter. Packaging Co. of America comprises approximately 3.5% of Axecap Investments LLC’s portfolio, making the stock its 2nd biggest holding. Axecap Investments LLC’s holdings in Packaging Co. of America were worth $4,658,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also bought and sold shares of PKG. Sanctuary Advisors LLC grew its holdings in shares of Packaging Co. of America by 17.0% in the third quarter. Sanctuary Advisors LLC now owns 20,270 shares of the industrial products company’s stock worth $4,366,000 after purchasing an additional 2,946 shares during the last quarter. Principal Financial Group Inc. grew its holdings in shares of Packaging Co. of America by 8.4% in the third quarter. Principal Financial Group Inc. now owns 460,518 shares of the industrial products company’s stock worth $99,194,000 after purchasing an additional 35,614 shares during the last quarter. GAMMA Investing LLC boosted its holdings in 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 acquiring an additional 473 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its holdings in Packaging Co. of America by 227.5% in the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 32,243 shares of the industrial products company’s stock valued at $6,945,000 after acquiring an additional 22,397 shares in the last quarter. Finally, Citigroup Inc. boosted its holdings in Packaging Co. of America by 30.7% in the third quarter. Citigroup Inc. now owns 115,005 shares of the industrial products company’s stock valued at $24,772,000 after acquiring an additional 27,018 shares in the last quarter. 89.78% of the stock is owned by hedge funds and other institutional investors.
Packaging Co. of America Price Performance
Shares of NYSE:PKG opened at $209.37 on Tuesday. Packaging Co. of America has a fifty-two week low of $163.68 and a fifty-two week high of $250.82. The firm has a market cap of $18.80 billion, a price-to-earnings ratio of 23.45, a price-to-earnings-growth ratio of 2.40 and a beta of 0.77. 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 business has a 50-day simple moving average of $229.62 and a two-hundred day simple moving average of $221.35.
Packaging Co. of America (NYSE:PKG – Get Free Report) last released its quarterly earnings results on Tuesday, January 28th. The industrial products company reported $2.47 EPS for the quarter, missing the consensus estimate 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%. On average, analysts expect that Packaging Co. of America will post 10.6 earnings per share for the current year.
Packaging Co. of America Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Friday, December 20th were given a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a dividend yield of 2.39%. The ex-dividend date was Friday, December 20th. Packaging Co. of America’s payout ratio is currently 55.99%.
Insider Activity
In related news, Director Paul T. Stecko sold 10,500 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 8,881 shares in the company, valued at approximately $2,175,045.71. The trade was a 54.18 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Joseph Vaughn sold 2,300 shares of the business’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $244.89, for a total value of $563,247.00. Following the transaction, the senior vice president now owns 9,197 shares of the company’s stock, valued at approximately $2,252,253.33. This trade represents a 20.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.60% of the company’s stock.
Analyst Ratings Changes
PKG has been the topic of several recent analyst reports. StockNews.com cut shares of Packaging Co. of America from a “buy” rating to a “hold” rating in a report on Wednesday, January 29th. Citigroup boosted 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 report on Monday, January 6th. Truist Financial restated a “buy” rating and set a $265.00 target price (down previously from $282.00) on shares of Packaging Co. of America in a report on Thursday, January 30th. Jefferies Financial Group upgraded shares of Packaging Co. of America from a “hold” rating to a “buy” rating and boosted their target price for the company from $215.00 to $280.00 in a report on Wednesday, December 18th. Finally, Wells Fargo & Company lowered their price target on Packaging Co. of America from $253.00 to $236.00 and set an “overweight” rating for the company in a research report on Thursday, January 30th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $233.00.
Check Out Our Latest Stock Analysis on Packaging Co. of America
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.
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