Packaging Co. of America (NYSE:PKG) Stock Holdings Lifted by ProShare Advisors LLC

ProShare Advisors LLC grew its stake in Packaging Co. of America (NYSE:PKG) by 21.2% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 26,377 shares of the industrial products company’s stock after buying an additional 4,614 shares during the period. ProShare Advisors LLC’s holdings in Packaging Co. of America were worth $3,662,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in shares of Packaging Co. of America by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 12,047,771 shares of the industrial products company’s stock worth $1,880,777,000 after acquiring an additional 161,559 shares during the period. BlackRock Inc. lifted its stake in Packaging Co. of America by 1.7% in the first quarter. BlackRock Inc. now owns 9,048,220 shares of the industrial products company’s stock valued at $1,256,164,000 after buying an additional 151,624 shares during the period. State Street Corp lifted its holdings in shares of Packaging Co. of America by 16.8% during the 1st quarter. State Street Corp now owns 4,607,784 shares of the industrial products company’s stock valued at $645,404,000 after purchasing an additional 663,047 shares in the last quarter. Bank of America Corp DE lifted its holdings in shares of Packaging Co. of America by 14.8% during the 1st quarter. Bank of America Corp DE now owns 4,482,612 shares of the industrial products company’s stock valued at $622,321,000 after purchasing an additional 578,041 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its position in shares of Packaging Co. of America by 1.2% during the fourth quarter. JPMorgan Chase & Co. now owns 3,636,189 shares of the industrial products company’s stock worth $465,106,000 after buying an additional 43,430 shares during the period. Institutional investors and hedge funds own 90.53% of the company’s stock.

Packaging Co. of America Price Performance

Shares of NYSE PKG opened at $151.80 on Tuesday. Packaging Co. of America has a twelve month low of $110.56 and a twelve month high of $158.66. The stock’s 50 day moving average price is $146.55 and its 200-day moving average price is $138.12. The company has a market capitalization of $13.65 billion, a PE ratio of 16.05, a PEG ratio of 3.70 and a beta of 0.91. The company has a quick ratio of 2.10, a current ratio of 3.35 and a debt-to-equity ratio of 0.65.

Packaging Co. of America (NYSE:PKG) last announced its earnings results on Tuesday, July 25th. The industrial products company reported $2.31 earnings per share for the quarter, topping analysts’ consensus estimates of $1.93 by $0.38. Packaging Co. of America had a return on equity of 23.30% and a net margin of 10.79%. The firm had revenue of $1.95 billion for the quarter, compared to the consensus estimate of $1.99 billion. During the same quarter in the previous year, the business earned $3.23 EPS. The company’s revenue was down 12.7% compared to the same quarter last year. On average, equities analysts anticipate that Packaging Co. of America will post 8.15 EPS for the current year.

Packaging Co. of America Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 13th. Investors of record on Monday, September 25th will be given a $1.25 dividend. The ex-dividend date of this dividend is Friday, September 22nd. This represents a $5.00 annualized dividend and a yield of 3.29%. Packaging Co. of America’s dividend payout ratio (DPR) is presently 52.85%.

Wall Street Analysts Forecast Growth

PKG has been the topic of several research analyst reports. UBS Group dropped their price objective on Packaging Co. of America from $137.00 to $132.00 in a research note on Friday, June 30th. Bank of America cut their price objective on Packaging Co. of America from $145.00 to $138.00 in a report on Monday, July 10th. Truist Financial raised their target price on Packaging Co. of America from $140.00 to $156.00 and gave the stock a “buy” rating in a research report on Wednesday, July 26th. Wells Fargo & Company raised their target price on Packaging Co. of America from $122.00 to $137.00 in a research report on Thursday, July 27th. Finally, StockNews.com began coverage on Packaging Co. of America in a research report on Thursday, August 17th. They set a “hold” rating for the company. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $134.29.

Insider Buying and Selling at Packaging Co. of America

In other news, VP Thomas A. Hassfurther sold 27,027 shares of the company’s stock in a transaction dated Wednesday, July 26th. The shares were sold at an average price of $148.80, for a total transaction of $4,021,617.60. Following the completion of the transaction, the vice president now directly owns 198,121 shares of the company’s stock, valued at $29,480,404.80. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, VP Thomas A. Hassfurther sold 27,027 shares of the firm’s stock in a transaction that occurred on Wednesday, July 26th. The shares were sold at an average price of $148.80, for a total value of $4,021,617.60. Following the sale, the vice president now owns 198,121 shares in the company, valued at $29,480,404.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Charles J. Carter sold 9,263 shares of Packaging Co. of America stock in a transaction on Wednesday, July 26th. The stock was sold at an average price of $149.64, for a total transaction of $1,386,115.32. Following the transaction, the executive vice president now owns 25,922 shares in the company, valued at approximately $3,878,968.08. The disclosure for this sale can be found here. Insiders sold a total of 59,783 shares of company stock worth $9,023,216 over the last three months. Company insiders own 1.60% of the company’s stock.

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 Packaging and Paper segments. 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.