Packaging Co. of America (NYSE:PKG) Shares Sold by Advocate Group LLC

Advocate Group LLC cut its holdings in shares of Packaging Co. of America (NYSE:PKG) by 18.8% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 3,145 shares of the industrial products company’s stock after selling 730 shares during the period. Advocate Group LLC’s holdings in Packaging Co. of America were worth $708,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of PKG. Canada Pension Plan Investment Board purchased a new position in Packaging Co. of America in the 2nd quarter valued at about $1,296,000. ProShare Advisors LLC lifted its stake in Packaging Co. of America by 7.9% in the 2nd quarter. ProShare Advisors LLC now owns 15,643 shares of the industrial products company’s stock valued at $2,856,000 after buying an additional 1,143 shares in the last quarter. Public Sector Pension Investment Board lifted its stake in Packaging Co. of America by 66.4% in the 2nd quarter. Public Sector Pension Investment Board now owns 3,330 shares of the industrial products company’s stock worth $608,000 after purchasing an additional 1,329 shares in the last quarter. Evergreen Capital Management LLC boosted its holdings in shares of Packaging Co. of America by 2.4% during the 2nd quarter. Evergreen Capital Management LLC now owns 2,461 shares of the industrial products company’s stock worth $452,000 after purchasing an additional 57 shares during the last quarter. Finally, Bank of Montreal Can boosted its holdings in shares of Packaging Co. of America by 1.7% during the 2nd quarter. Bank of Montreal Can now owns 85,422 shares of the industrial products company’s stock worth $16,056,000 after purchasing an additional 1,444 shares during the last quarter. 89.78% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Packaging Co. of America

In other news, Director Paul T. Stecko sold 10,500 shares of the stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $244.91, for a total transaction of $2,571,555.00. Following the completion of the sale, the director now owns 8,881 shares in the company, valued at approximately $2,175,045.71. This represents a 54.18 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Robert P. Mundy sold 12,500 shares of the stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $240.62, for a total transaction of $3,007,750.00. Following the sale, the chief financial officer now owns 43,954 shares of the company’s stock, valued at $10,576,211.48. This trade represents a 22.14 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 33,300 shares of company stock valued at $8,064,152. 1.60% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

PKG has been the topic of several recent research reports. Wells Fargo & Company boosted their target price on Packaging Co. of America from $235.00 to $253.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. StockNews.com upgraded Packaging Co. of America from a “hold” rating to a “buy” rating in a report on Tuesday, December 24th. Jefferies Financial Group upgraded Packaging Co. of America from a “hold” rating to a “buy” rating and upped their price objective for the company from $215.00 to $280.00 in a report on Wednesday, December 18th. Citigroup upped their price objective on Packaging Co. of America from $232.00 to $235.00 and gave the company a “neutral” rating in a report on Monday, January 6th. Finally, Truist Financial upped their price objective on Packaging Co. of America from $252.00 to $282.00 and gave the company a “buy” rating in a report on Monday, January 6th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $238.67.

Packaging Co. of America Stock Up 0.4 %

Shares of NYSE PKG opened at $240.08 on Friday. The firm has a market cap of $21.56 billion, a price-to-earnings ratio of 27.98, a PEG ratio of 2.36 and a beta of 0.79. The company has a quick ratio of 1.98, a current ratio of 2.95 and a debt-to-equity ratio of 0.58. Packaging Co. of America has a 52-week low of $159.57 and a 52-week high of $250.82. The business’s 50 day moving average is $235.85 and its two-hundred day moving average is $218.73.

Packaging Co. of America (NYSE:PKG) last posted its quarterly earnings data on Tuesday, October 22nd. The industrial products company reported $2.65 earnings per share for the quarter, topping analysts’ consensus estimates of $2.50 by $0.15. Packaging Co. of America had a return on equity of 19.10% and a net margin of 9.46%. The business had revenue of $2.18 billion for the quarter, compared to analyst estimates of $2.09 billion. During the same quarter in the prior year, the company earned $2.05 earnings per share. The company’s revenue was up 14.9% on a year-over-year basis. Research analysts predict that Packaging Co. of America will post 9.08 EPS for the current year.

Packaging Co. of America Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Friday, December 20th were given a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.08%. The ex-dividend date of this dividend was Friday, December 20th. Packaging Co. of America’s dividend payout ratio is currently 58.28%.

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.