Sanibel Captiva Trust Company Inc. Makes New Investment in Packaging Co. of America (NYSE:PKG)

Sanibel Captiva Trust Company Inc. acquired a new stake in shares of Packaging Co. of America (NYSE:PKG) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 987 shares of the industrial products company’s stock, valued at approximately $222,000.

Other institutional investors also recently bought and sold shares of the company. Stifel Financial Corp lifted its position in shares of Packaging Co. of America by 1,462.2% during the 3rd quarter. Stifel Financial Corp now owns 573,073 shares of the industrial products company’s stock valued at $123,440,000 after buying an additional 536,389 shares in the last quarter. Millennium Management LLC lifted its holdings in Packaging Co. of America by 34.3% during the second quarter. Millennium Management LLC now owns 1,027,585 shares of the industrial products company’s stock valued at $187,596,000 after purchasing an additional 262,315 shares in the last quarter. AQR Capital Management LLC boosted its position in shares of Packaging Co. of America by 164.3% in the second quarter. AQR Capital Management LLC now owns 401,360 shares of the industrial products company’s stock worth $73,272,000 after purchasing an additional 249,483 shares during the period. International Assets Investment Management LLC increased its stake in shares of Packaging Co. of America by 41,151.7% in the third quarter. International Assets Investment Management LLC now owns 155,519 shares of the industrial products company’s stock worth $33,499,000 after purchasing an additional 155,142 shares in the last quarter. Finally, Two Sigma Advisers LP raised its position in shares of Packaging Co. of America by 218.1% during the 3rd quarter. Two Sigma Advisers LP now owns 207,700 shares of the industrial products company’s stock valued at $44,739,000 after purchasing an additional 142,400 shares during the period. 89.78% of the stock is owned by institutional investors.

Insider Activity at Packaging Co. of America

In related news, CFO Robert P. Mundy sold 12,500 shares of the stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $240.62, for a total value of $3,007,750.00. Following the sale, the chief financial officer now directly owns 43,954 shares of the company’s stock, valued at $10,576,211.48. This represents a 22.14 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through 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 worth $8,064,152. Company insiders own 1.70% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Citigroup raised their price target 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. Wells Fargo & Company boosted their price target 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. Jefferies Financial Group raised shares of Packaging Co. of America from a “hold” rating to a “buy” rating and increased their price objective for the company from $215.00 to $280.00 in a report on Wednesday, December 18th. Truist Financial boosted their target price on shares of Packaging Co. of America from $252.00 to $282.00 and gave the stock a “buy” rating in a report on Monday, January 6th. Finally, StockNews.com raised shares of Packaging Co. of America from a “hold” rating to a “buy” rating in a research note on Tuesday, December 24th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, Packaging Co. of America has an average rating of “Moderate Buy” and a consensus price target of $238.67.

Packaging Co. of America Price Performance

Packaging Co. of America stock opened at $237.52 on Monday. 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 $217.15. 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 quarterly earnings results on Tuesday, October 22nd. The industrial products company reported $2.65 EPS for the quarter, beating analysts’ consensus estimates of $2.50 by $0.15. Packaging Co. of America had a net margin of 9.46% and a return on equity of 19.10%. The firm had revenue of $2.18 billion during the quarter, compared to the consensus estimate of $2.09 billion. During the same quarter last year, the firm earned $2.05 EPS. The firm’s revenue for the quarter was up 14.9% compared to the same quarter last year. 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 given a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a dividend yield of 2.11%. The ex-dividend date 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.