Y Intercept Hong Kong Ltd Invests $2.52 Million in Packaging Co. of America (NYSE:PKG)

Y Intercept Hong Kong Ltd acquired a new position in shares of Packaging Co. of America (NYSE:PKG) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 11,210 shares of the industrial products company’s stock, valued at approximately $2,524,000.

Several other institutional investors and hedge funds have also made changes to their positions in PKG. International Assets Investment Management LLC lifted its position in Packaging Co. of America by 41,151.7% during the third quarter. International Assets Investment Management LLC now owns 155,519 shares of the industrial products company’s stock valued at $33,499,000 after purchasing an additional 155,142 shares during the period. Allworth Financial LP lifted its position in Packaging Co. of America by 65.1% during the third quarter. Allworth Financial LP now owns 312 shares of the industrial products company’s stock valued at $67,000 after purchasing an additional 123 shares during the period. Forsta AP Fonden lifted its position in Packaging Co. of America by 4.5% during the third quarter. Forsta AP Fonden now owns 18,700 shares of the industrial products company’s stock valued at $4,028,000 after purchasing an additional 800 shares during the period. Pallas Capital Advisors LLC acquired a new position in Packaging Co. of America during the third quarter valued at $356,000. Finally, First Trust Direct Indexing L.P. lifted its position in Packaging Co. of America by 9.9% during the third quarter. First Trust Direct Indexing L.P. now owns 2,943 shares of the industrial products company’s stock valued at $634,000 after purchasing an additional 264 shares during the period. 89.78% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Packaging Co. of America

In related news, SVP Joseph Vaughn sold 2,300 shares of the company’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $244.89, for a total transaction 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. This represents a 20.01 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.70% of the company’s stock.

Wall Street Analyst Weigh In

PKG has been the subject of a number of research reports. 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 research report on Monday, January 6th. 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 research report on Wednesday, December 18th. Seaport Res Ptn upgraded shares of Packaging Co. of America from a “hold” rating to a “strong-buy” rating in a research report on Thursday, February 13th. Truist Financial reiterated a “buy” rating and issued a $265.00 price objective (down previously from $282.00) on shares of Packaging Co. of America in a research report on Thursday, January 30th. Finally, StockNews.com downgraded shares of Packaging Co. of America from a “buy” rating to a “hold” rating in a research report on Wednesday, January 29th. Three analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Packaging Co. of America presently has a consensus rating of “Moderate Buy” and an average price target of $233.00.

Packaging Co. of America Trading Up 0.8 %

Shares of Packaging Co. of America stock opened at $209.63 on Tuesday. The firm has a 50-day simple moving average of $223.54 and a two-hundred day simple moving average of $222.29. The company has a market cap of $18.83 billion, a P/E ratio of 23.47, a price-to-earnings-growth ratio of 2.41 and a beta of 0.77. Packaging Co. of America has a fifty-two week low of $169.00 and a fifty-two week high of $250.82. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.98 and a current ratio of 2.95.

Packaging Co. of America (NYSE:PKG) last released its earnings results on Tuesday, January 28th. The industrial products company reported $2.47 EPS for the quarter, missing analysts’ consensus estimates 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%. As a group, equities analysts predict that Packaging Co. of America will post 10.44 earnings per share for the current fiscal year.

Packaging Co. of America Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Friday, December 20th were paid a dividend of $1.25 per share. The ex-dividend date was Friday, December 20th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.39%. Packaging Co. of America’s dividend payout ratio is currently 55.99%.

Packaging Co. of America 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.