Caprock Group LLC Acquires 63 Shares of Packaging Co. of America (NYSE:PKG)

Caprock Group LLC raised its holdings in Packaging Co. of America (NYSE:PKG) by 2.6% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,465 shares of the industrial products company’s stock after acquiring an additional 63 shares during the quarter. Caprock Group LLC’s holdings in Packaging Co. of America were worth $534,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Victory Capital Management Inc. boosted its stake in shares of Packaging Co. of America by 1.5% during the second quarter. Victory Capital Management Inc. now owns 2,853,417 shares of the industrial products company’s stock valued at $520,920,000 after purchasing an additional 41,903 shares during the period. Boston Partners lifted its holdings in Packaging Co. of America by 49.3% during the 1st quarter. Boston Partners now owns 1,446,303 shares of the industrial products company’s stock valued at $274,421,000 after buying an additional 477,487 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in Packaging Co. of America by 8.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,153,732 shares of the industrial products company’s stock valued at $210,636,000 after buying an additional 86,005 shares during the period. Millennium Management LLC grew its stake in Packaging Co. of America by 34.3% in the 2nd quarter. Millennium Management LLC now owns 1,027,585 shares of the industrial products company’s stock worth $187,596,000 after acquiring an additional 262,315 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD increased its position in shares of Packaging Co. of America by 5.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 869,341 shares of the industrial products company’s stock worth $164,985,000 after acquiring an additional 42,465 shares during the period. Hedge funds and other institutional investors own 89.78% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on PKG. Wells Fargo & Company increased their price objective on 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. Truist Financial reissued a “buy” rating and set a $252.00 price target (up previously from $242.00) on shares of Packaging Co. of America in a research report on Thursday, October 24th. Citigroup lifted their price objective on Packaging Co. of America from $199.00 to $221.00 and gave the company a “neutral” rating in a report on Wednesday, October 2nd. Finally, StockNews.com cut shares of Packaging Co. of America from a “buy” rating to a “hold” rating in a report on Wednesday. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $221.60.

Insider Transactions at Packaging Co. of America

In other Packaging Co. of America news, CFO Robert P. Mundy sold 12,500 shares of the stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $240.62, for a total value of $3,007,750.00. Following the completion of the sale, the chief financial officer now directly owns 43,954 shares in the company, valued at approximately $10,576,211.48. This trade represents a 22.14 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Paul T. Stecko sold 10,500 shares of the business’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $244.91, for a total value of $2,571,555.00. Following the sale, the director now owns 8,881 shares in the company, valued at $2,175,045.71. The trade was a 54.18 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 31,000 shares of company stock valued at $7,500,905. Corporate insiders own 1.60% of the company’s stock.

Packaging Co. of America Trading Up 0.5 %

Shares of NYSE PKG opened at $246.43 on Friday. Packaging Co. of America has a 1-year low of $153.58 and a 1-year high of $248.62. The business has a fifty day moving average price of $224.82 and a 200 day moving average price of $202.27. The stock has a market capitalization of $22.13 billion, a P/E ratio of 28.72, a price-to-earnings-growth ratio of 3.35 and a beta of 0.76. 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 released its quarterly earnings results on Tuesday, October 22nd. The industrial products company reported $2.65 EPS for the quarter, beating the consensus estimate 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 business had revenue of $2.18 billion during the quarter, compared to analyst estimates of $2.09 billion. During the same period in the prior year, the firm posted $2.05 earnings per share. The company’s quarterly revenue was up 14.9% on a year-over-year basis. Equities research analysts expect that Packaging Co. of America will post 9.07 EPS for the current fiscal year.

Packaging Co. of America Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Tuesday, October 15th were issued a $1.25 dividend. This represents a $5.00 annualized dividend and a yield of 2.03%. The ex-dividend date was Monday, September 16th. Packaging Co. of America’s dividend payout ratio is currently 58.28%.

About Packaging Co. of America

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.