Packaging Co. of America (NYSE:PKG) Stake Raised by Portfolio Design Labs LLC

Portfolio Design Labs LLC grew its holdings in shares of Packaging Co. of America (NYSE:PKG) by 64.2% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 1,980 shares of the industrial products company’s stock after purchasing an additional 774 shares during the quarter. Portfolio Design Labs LLC’s holdings in Packaging Co. of America were worth $446,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in PKG. Valeo Financial Advisors LLC bought a new stake in shares of Packaging Co. of America during the third quarter valued at approximately $209,000. Exchange Traded Concepts LLC bought a new stake in shares of Packaging Co. of America during the third quarter valued at approximately $78,000. Creative Planning raised its holdings in shares of Packaging Co. of America by 3.3% during the third quarter. Creative Planning now owns 16,842 shares of the industrial products company’s stock valued at $3,628,000 after buying an additional 534 shares during the last quarter. nVerses Capital LLC bought a new stake in shares of Packaging Co. of America during the third quarter valued at approximately $948,000. Finally, Good Life Advisors LLC raised its holdings in shares of Packaging Co. of America by 2.7% during the third quarter. Good Life Advisors LLC now owns 12,503 shares of the industrial products company’s stock valued at $2,693,000 after buying an additional 329 shares during the last quarter. Institutional investors own 89.78% of the company’s stock.

Insiders Place Their Bets

In other Packaging Co. of America news, SVP Joseph Vaughn sold 2,300 shares of Packaging Co. of America stock in a transaction that occurred 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 transaction, 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 position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Paul T. Stecko sold 10,500 shares of Packaging Co. of America 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 transaction, the director now owns 8,881 shares in the company, valued at approximately $2,175,045.71. The trade was a 54.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.60% of the stock is currently owned by company insiders.

Packaging Co. of America Trading Down 1.8 %

Packaging Co. of America stock opened at $204.50 on Thursday. 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 firm has a market cap of $18.37 billion, a price-to-earnings ratio of 22.90, a price-to-earnings-growth ratio of 2.40 and a beta of 0.77. Packaging Co. of America has a 1 year low of $163.68 and a 1 year high of $250.82. The firm’s 50 day moving average price is $228.12 and its two-hundred day moving average price is $221.30.

Packaging Co. of America (NYSE:PKG) last posted 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%. On average, research analysts predict that Packaging Co. of America will post 10.6 EPS for the current fiscal year.

Packaging Co. of America Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Friday, December 20th were given a $1.25 dividend. The ex-dividend date of this dividend was Friday, December 20th. This represents a $5.00 annualized dividend and a yield of 2.44%. Packaging Co. of America’s dividend payout ratio (DPR) is 55.99%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on PKG shares. Jefferies Financial Group raised Packaging Co. of America from a “hold” rating to a “buy” rating and boosted their target price for the stock from $215.00 to $280.00 in a report on Wednesday, December 18th. Citigroup boosted their target price on Packaging Co. of America from $232.00 to $235.00 and gave the stock a “neutral” rating in a report on Monday, January 6th. StockNews.com cut Packaging Co. of America from a “buy” rating to a “hold” rating in a report on Wednesday, January 29th. Wells Fargo & Company dropped their target price on Packaging Co. of America from $253.00 to $236.00 and set an “overweight” rating on the stock in a report on Thursday, January 30th. Finally, Truist Financial reissued 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. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, Packaging Co. of America has an average 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.