Packaging Co. of America (NYSE:PKG) Position Lessened by CX Institutional

CX Institutional decreased its stake in Packaging Co. of America (NYSE:PKG) by 3.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,758 shares of the industrial products company’s stock after selling 64 shares during the period. CX Institutional’s holdings in Packaging Co. of America were worth $396,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Sanctuary Advisors LLC lifted its holdings in shares of Packaging Co. of America by 17.0% in the 3rd quarter. Sanctuary Advisors LLC now owns 20,270 shares of the industrial products company’s stock worth $4,366,000 after purchasing an additional 2,946 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Packaging Co. of America by 8.4% in the 3rd quarter. Principal Financial Group Inc. now owns 460,518 shares of the industrial products company’s stock worth $99,194,000 after purchasing an additional 35,614 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its stake in Packaging Co. of America by 227.5% during the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 32,243 shares of the industrial products company’s stock valued at $6,945,000 after acquiring an additional 22,397 shares in the last quarter. Citigroup Inc. raised its stake in Packaging Co. of America by 30.7% during the 3rd quarter. Citigroup Inc. now owns 115,005 shares of the industrial products company’s stock valued at $24,772,000 after acquiring an additional 27,018 shares in the last quarter. Finally, GAMMA Investing LLC raised its stake in Packaging Co. of America by 24.2% during the 4th quarter. GAMMA Investing LLC now owns 2,431 shares of the industrial products company’s stock valued at $547,000 after acquiring an additional 473 shares in the last quarter. Institutional investors own 89.78% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Wells Fargo & Company lifted their target price on Packaging Co. of America from $235.00 to $253.00 and gave the company an “overweight” rating in a research note on Thursday, October 24th. StockNews.com raised Packaging Co. of America from a “hold” rating to a “buy” rating in a research note on Tuesday, December 24th. Citigroup lifted their target price on Packaging Co. of America from $232.00 to $235.00 and gave the company a “neutral” rating in a research note on Monday, January 6th. Truist Financial lifted their target price on Packaging Co. of America from $252.00 to $282.00 and gave the company a “buy” rating in a research note on Monday, January 6th. Finally, Jefferies Financial Group raised Packaging Co. of America from a “hold” rating to a “buy” rating and lifted their target price for the company from $215.00 to $280.00 in a research note on Wednesday, December 18th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $238.67.

Insider Buying and Selling

In related news, CFO Robert P. Mundy sold 12,500 shares of the company’s stock in a transaction on 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 transaction, the chief financial officer now directly owns 43,954 shares of the company’s stock, valued at approximately $10,576,211.48. The trade was a 22.14 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Donald R. Shirley sold 8,000 shares of the company’s stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $240.20, for a total value of $1,921,600.00. Following the transaction, the senior vice president now directly owns 15,725 shares in the company, valued at $3,777,145. The trade was a 33.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 33,300 shares of company stock worth $8,064,152 in the last three months. 1.60% of the stock is currently owned by insiders.

Packaging Co. of America Stock Up 0.4 %

Shares of PKG stock opened at $240.08 on Monday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.98 and a current ratio of 2.95. The stock has a market cap of $21.56 billion, a PE ratio of 27.98, a price-to-earnings-growth ratio of 2.36 and a beta of 0.79. The business’s fifty day moving average is $235.85 and its 200-day moving average is $219.31. Packaging Co. of America has a 1 year low of $159.57 and a 1 year high of $250.82.

Packaging Co. of America Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Friday, December 20th were issued a $1.25 dividend. 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 payout ratio is 58.28%.

Packaging Co. of America Company 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.