Fiduciary Family Office LLC Invests $246,000 in Packaging Co. of America (NYSE:PKG)

Fiduciary Family Office LLC bought a new stake in shares of Packaging Co. of America (NYSE:PKG) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 1,296 shares of the industrial products company’s stock, valued at approximately $246,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of PKG. FIL Ltd boosted its position in shares of Packaging Co. of America by 2.6% during the 4th quarter. FIL Ltd now owns 2,210,000 shares of the industrial products company’s stock valued at $360,031,000 after acquiring an additional 55,000 shares during the last quarter. Northern Trust Corp lifted its position in Packaging Co. of America by 2.4% during the fourth quarter. Northern Trust Corp now owns 1,182,797 shares of the industrial products company’s stock valued at $192,689,000 after purchasing an additional 27,974 shares during the last quarter. Norges Bank purchased a new position in shares of Packaging Co. of America in the 4th quarter worth $163,314,000. Boston Partners increased its holdings in shares of Packaging Co. of America by 20.1% in the 4th quarter. Boston Partners now owns 968,816 shares of the industrial products company’s stock worth $157,836,000 after buying an additional 162,420 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in shares of Packaging Co. of America by 0.7% in the 1st quarter. Bank of New York Mellon Corp now owns 874,497 shares of the industrial products company’s stock worth $165,962,000 after buying an additional 5,842 shares during the last quarter. 89.78% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, Director Karen E. Gowland acquired 300 shares of the firm’s stock in a transaction that occurred on Wednesday, May 15th. The stock was purchased at an average cost of $182.06 per share, for a total transaction of $54,618.00. Following the completion of the acquisition, the director now directly owns 916 shares of the company’s stock, valued at approximately $166,766.96. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.60% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts recently commented on PKG shares. Citigroup lifted their price target on Packaging Co. of America from $181.00 to $187.00 and gave the stock a “neutral” rating in a research report on Monday, July 8th. BNP Paribas cut Packaging Co. of America from an “outperform” rating to a “neutral” rating and set a $182.00 target price for the company. in a report on Friday, April 12th. Bank of America increased their price target on Packaging Co. of America from $197.00 to $200.00 and gave the company a “buy” rating in a report on Monday, June 17th. Truist Financial lifted their price objective on shares of Packaging Co. of America from $191.00 to $208.00 and gave the stock a “buy” rating in a research note on Thursday, May 30th. Finally, Wells Fargo & Company increased their target price on shares of Packaging Co. of America from $191.00 to $194.00 and gave the company an “overweight” rating in a research note on Wednesday, July 10th. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $185.17.

Packaging Co. of America Trading Up 0.2 %

PKG stock traded up $0.32 during midday trading on Monday, reaching $185.76. The company’s stock had a trading volume of 299,663 shares, compared to its average volume of 624,186. The firm has a market capitalization of $16.68 billion, a price-to-earnings ratio of 23.18, a PEG ratio of 5.02 and a beta of 0.77. Packaging Co. of America has a 1 year low of $132.70 and a 1 year high of $191.39. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.74 and a current ratio of 2.46. The stock has a fifty day simple moving average of $182.20 and a two-hundred day simple moving average of $177.60.

Packaging Co. of America (NYSE:PKG) last announced its quarterly earnings data on Tuesday, April 23rd. The industrial products company reported $1.72 earnings per share for the quarter, beating analysts’ consensus estimates of $1.63 by $0.09. The company had revenue of $1.98 billion during the quarter, compared to analyst estimates of $1.91 billion. Packaging Co. of America had a net margin of 9.25% and a return on equity of 18.80%. The firm’s revenue for the quarter was up .2% on a year-over-year basis. During the same quarter last year, the business posted $2.20 EPS. On average, equities research analysts predict that Packaging Co. of America will post 8.33 EPS for the current year.

Packaging Co. of America Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 14th will be paid a $1.25 dividend. The ex-dividend date of this dividend is Friday, June 14th. This represents a $5.00 annualized dividend and a yield of 2.69%. Packaging Co. of America’s dividend payout ratio (DPR) is currently 62.50%.

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.