9,727 Shares in Packaging Co. of America (NYSE:PKG) Bought by Avanza Fonder AB

Avanza Fonder AB purchased a new stake in shares of Packaging Co. of America (NYSE:PKG) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 9,727 shares of the industrial products company’s stock, valued at approximately $2,190,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Burney Co. grew its stake in shares of Packaging Co. of America by 20.1% during the 4th quarter. Burney Co. now owns 2,728 shares of the industrial products company’s stock valued at $614,000 after acquiring an additional 456 shares during the period. Park Avenue Securities LLC boosted its position in shares of Packaging Co. of America by 76.1% in the fourth quarter. Park Avenue Securities LLC now owns 7,273 shares of the industrial products company’s stock worth $1,637,000 after purchasing an additional 3,143 shares during the period. Assenagon Asset Management S.A. increased its stake in shares of Packaging Co. of America by 138.3% in the fourth quarter. Assenagon Asset Management S.A. now owns 177,521 shares of the industrial products company’s stock worth $39,965,000 after purchasing an additional 103,034 shares in the last quarter. Rockland Trust Co. bought a new stake in shares of Packaging Co. of America during the 4th quarter valued at $376,000. Finally, Fifth Third Wealth Advisors LLC lifted its stake in shares of Packaging Co. of America by 5.6% during the 4th quarter. Fifth Third Wealth Advisors LLC now owns 1,098 shares of the industrial products company’s stock valued at $247,000 after buying an additional 58 shares in the last quarter. Hedge funds and other institutional investors own 89.78% of the company’s stock.

Insider Activity

In other Packaging Co. of America news, SVP Joseph Vaughn sold 2,300 shares of the firm’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $244.89, for a total value of $563,247.00. Following the completion of the sale, the senior vice president now owns 9,197 shares of the company’s stock, valued at $2,252,253.33. This trade represents a 20.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Paul T. Stecko sold 10,500 shares of the business’s stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $244.91, for a total value of $2,571,555.00. Following the transaction, the director now owns 8,881 shares of the company’s stock, valued at $2,175,045.71. This trade represents a 54.18 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 33,300 shares of company stock valued at $8,064,152. 1.70% of the stock is currently owned by insiders.

Packaging Co. of America Price Performance

Packaging Co. of America stock opened at $237.52 on Friday. Packaging Co. of America has a 52-week low of $159.57 and a 52-week high of $250.82. The company has a quick ratio of 1.98, a current ratio of 2.95 and a debt-to-equity ratio of 0.58. The firm’s fifty day moving average is $235.69 and its 200 day moving average is $216.89. The company has a market cap of $21.33 billion, a price-to-earnings ratio of 27.68, a PEG ratio of 2.24 and a beta of 0.79.

Packaging Co. of America (NYSE:PKG) last announced its earnings results on Tuesday, October 22nd. The industrial products company reported $2.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.50 by $0.15. The firm had revenue of $2.18 billion for the quarter, compared to analysts’ expectations of $2.09 billion. Packaging Co. of America had a net margin of 9.46% and a return on equity of 19.10%. The business’s revenue was up 14.9% compared to the same quarter last year. During the same period in the prior year, the company earned $2.05 EPS. Sell-side analysts forecast that Packaging Co. of America will post 9.08 EPS for the current fiscal year.

Packaging Co. of America Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders 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 2.11%. The ex-dividend date was Friday, December 20th. Packaging Co. of America’s dividend payout ratio (DPR) is 58.28%.

Analysts Set New Price Targets

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

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.