Toronto Dominion Bank Purchases 694 Shares of Packaging Co. of America (NYSE:PKG)

Toronto Dominion Bank grew its position in Packaging Co. of America (NYSE:PKG) by 1.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 50,247 shares of the industrial products company’s stock after purchasing an additional 694 shares during the quarter. Toronto Dominion Bank’s holdings in Packaging Co. of America were worth $9,536,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Louisiana State Employees Retirement System bought a new position in shares of Packaging Co. of America during the fourth quarter worth $880,000. International Assets Investment Management LLC boosted its position in shares of Packaging Co. of America by 19,323.7% during the fourth quarter. International Assets Investment Management LLC now owns 30,301 shares of the industrial products company’s stock worth $4,936,000 after acquiring an additional 30,145 shares during the last quarter. CANADA LIFE ASSURANCE Co boosted its position in shares of Packaging Co. of America by 4.6% during the first quarter. CANADA LIFE ASSURANCE Co now owns 70,689 shares of the industrial products company’s stock worth $13,419,000 after acquiring an additional 3,078 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp boosted its position in shares of Packaging Co. of America by 30.4% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 90,686 shares of the industrial products company’s stock worth $17,168,000 after acquiring an additional 21,143 shares during the last quarter. Finally, Cim LLC purchased a new stake in Packaging Co. of America during the fourth quarter valued at $2,003,000. Institutional investors own 89.78% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. Wells Fargo & Company upped their price target on shares of Packaging Co. of America from $194.00 to $215.00 and gave the company an “overweight” rating in a research note on Thursday. Truist Financial upped their price target on shares of Packaging Co. of America from $215.00 to $219.00 and gave the company a “buy” rating in a research note on Thursday. Citigroup upped their price target on shares of Packaging Co. of America from $181.00 to $187.00 and gave the company a “neutral” rating in a research note on Monday, July 8th. Bank of America upped their price target on shares of Packaging Co. of America from $197.00 to $200.00 and gave the company a “buy” rating in a research note on Monday, June 17th. Finally, BNP Paribas downgraded shares of Packaging Co. of America from an “outperform” rating to a “neutral” rating and set a $182.00 price target on the stock. in a research note on Friday, April 12th. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $190.50.

Insider Buying and Selling

In related news, Director Karen E. Gowland purchased 300 shares of Packaging Co. of America stock in a transaction that occurred on Wednesday, May 15th. The shares were bought at an average price of $182.06 per share, with a total value of $54,618.00. Following the purchase, the director now directly owns 916 shares of the company’s stock, valued at approximately $166,766.96. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.60% of the stock is currently owned by insiders.

Packaging Co. of America Trading Up 2.5 %

Shares of PKG traded up $4.76 during midday trading on Friday, hitting $199.00. The stock had a trading volume of 745,432 shares, compared to its average volume of 592,215. Packaging Co. of America has a 1 year low of $143.82 and a 1 year high of $199.42. The firm has a market cap of $17.87 billion, a PE ratio of 24.88, a price-to-earnings-growth ratio of 5.13 and a beta of 0.77. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.46 and a quick ratio of 1.74. The stock’s 50 day moving average is $184.62 and its 200 day moving average is $179.34.

Packaging Co. of America (NYSE:PKG) last announced its earnings results on Tuesday, July 23rd. The industrial products company reported $2.20 earnings per share for the quarter, beating the consensus estimate of $2.14 by $0.06. The business had revenue of $2.08 billion for the quarter, compared to the consensus estimate of $2.02 billion. Packaging Co. of America had a net margin of 9.06% and a return on equity of 18.39%. The business’s revenue for the quarter was up 6.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.31 earnings per share. As a group, analysts forecast that Packaging Co. of America will post 8.53 EPS for the current fiscal year.

Packaging Co. of America Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Friday, June 14th were paid a $1.25 dividend. This represents a $5.00 annualized dividend and a yield of 2.51%. The ex-dividend date was Friday, June 14th. Packaging Co. of America’s dividend payout ratio is presently 62.50%.

Packaging Co. of America Company Profile

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.