Packaging Co. of America (NYSE:PKG) Shares Purchased by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC raised its holdings in shares of Packaging Co. of America (NYSE:PKGGet Rating) by 404.1% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 97,658 shares of the industrial products company’s stock after purchasing an additional 78,284 shares during the quarter. Los Angeles Capital Management LLC owned 0.10% of Packaging Co. of America worth $15,245,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Mascoma Wealth Management LLC acquired a new stake in Packaging Co. of America during the 1st quarter valued at approximately $25,000. Hazlett Burt & Watson Inc. acquired a new position in shares of Packaging Co. of America in the 1st quarter worth approximately $31,000. Confluence Wealth Services Inc. acquired a new position in shares of Packaging Co. of America in the 4th quarter worth approximately $27,000. Koshinski Asset Management Inc. acquired a new position in shares of Packaging Co. of America in the 1st quarter worth approximately $38,000. Finally, MCF Advisors LLC acquired a new position in shares of Packaging Co. of America in the 1st quarter worth approximately $47,000. Institutional investors and hedge funds own 91.01% of the company’s stock.

Analysts Set New Price Targets

PKG has been the subject of several research reports. Argus lifted their target price on Packaging Co. of America from $160.00 to $176.00 in a research report on Friday, April 29th. Truist Financial decreased their target price on Packaging Co. of America to $175.00 and set an “outperform” rating for the company in a research report on Wednesday, July 27th. Wells Fargo & Company decreased their target price on Packaging Co. of America from $162.00 to $154.00 and set an “equal weight” rating for the company in a research report on Monday, July 18th. Deutsche Bank Aktiengesellschaft decreased their target price on Packaging Co. of America from $158.00 to $144.00 in a research report on Tuesday, July 19th. Finally, Citigroup lifted their target price on Packaging Co. of America from $144.00 to $147.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 27th. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $158.14.

Packaging Co. of America Stock Down 1.8 %

Packaging Co. of America stock opened at $135.22 on Friday. The company has a 50-day simple moving average of $143.12 and a 200-day simple moving average of $149.35. The firm has a market capitalization of $12.67 billion, a P/E ratio of 12.51, a P/E/G ratio of 2.39 and a beta of 0.77. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.99 and a current ratio of 2.96. Packaging Co. of America has a one year low of $124.78 and a one year high of $168.50.

Packaging Co. of America (NYSE:PKGGet Rating) last released its quarterly earnings results on Monday, July 25th. The industrial products company reported $3.23 EPS for the quarter, topping the consensus estimate of $2.85 by $0.38. The business had revenue of $2.24 billion during the quarter, compared to analyst estimates of $2.14 billion. Packaging Co. of America had a net margin of 12.13% and a return on equity of 29.35%. The company’s quarterly revenue was up 19.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.17 earnings per share. As a group, equities analysts expect that Packaging Co. of America will post 11.51 earnings per share for the current year.

Packaging Co. of America Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, July 15th. Stockholders of record on Wednesday, June 15th were given a dividend of $1.25 per share. The ex-dividend date was Tuesday, June 14th. This represents a $5.00 annualized dividend and a dividend yield of 3.70%. This is a positive change from Packaging Co. of America’s previous quarterly dividend of $1.00. Packaging Co. of America’s dividend payout ratio is currently 46.25%.

Insider Transactions at Packaging Co. of America

In related news, CFO Robert P. Mundy sold 13,800 shares of the stock in a transaction dated Monday, June 6th. The shares were sold at an average price of $160.30, for a total value of $2,212,140.00. Following the completion of the transaction, the chief financial officer now owns 38,799 shares in the company, valued at approximately $6,219,479.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CFO Robert P. Mundy sold 13,800 shares of the stock in a transaction dated Monday, June 6th. The shares were sold at an average price of $160.30, for a total value of $2,212,140.00. Following the completion of the transaction, the chief financial officer now owns 38,799 shares in the company, valued at approximately $6,219,479.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Donna A. Harman bought 500 shares of the firm’s stock in a transaction that occurred on Wednesday, May 25th. The stock was bought at an average price of $153.21 per share, with a total value of $76,605.00. Following the transaction, the director now directly owns 2,725 shares in the company, valued at $417,497.25. The disclosure for this purchase can be found here. Insiders own 1.60% of the company’s stock.

About Packaging Co. of America

(Get Rating)

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.

Read More

Want to see what other hedge funds are holding PKG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Packaging Co. of America (NYSE:PKGGet Rating).

Institutional Ownership by Quarter for Packaging Co. of America (NYSE:PKG)

Receive News & Ratings for Packaging Co. of America Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Packaging Co. of America and related companies with MarketBeat.com's FREE daily email newsletter.