YANKCOM Partnership Invests $232,000 in Packaging Co. of America (NYSE:PKG)

YANKCOM Partnership purchased a new position in shares of Packaging Co. of America (NYSE:PKG) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 1,030 shares of the industrial products company’s stock, valued at approximately $232,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Benchmark Financial Wealth Advisors LLC boosted its position in shares of Packaging Co. of America by 5.8% in the 4th quarter. Benchmark Financial Wealth Advisors LLC now owns 2,159 shares of the industrial products company’s stock worth $486,000 after buying an additional 119 shares in the last quarter. Choreo LLC boosted its position in shares of Packaging Co. of America by 6.3% in the 4th quarter. Choreo LLC now owns 2,719 shares of the industrial products company’s stock worth $612,000 after buying an additional 161 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Packaging Co. of America by 16.3% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 82,979 shares of the industrial products company’s stock worth $18,821,000 after buying an additional 11,648 shares in the last quarter. Mather Group LLC. boosted its position in shares of Packaging Co. of America by 1.7% in the 4th quarter. Mather Group LLC. now owns 2,586 shares of the industrial products company’s stock worth $582,000 after buying an additional 43 shares in the last quarter. Finally, Longboard Asset Management LP purchased a new stake in shares of Packaging Co. of America in the 4th quarter worth about $270,000. 89.78% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, SVP Donald R. Shirley sold 8,000 shares of the firm’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $240.20, for a total transaction 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. This trade represents a 33.72 % decrease in their ownership of the stock. The sale 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 firm’s stock in a transaction on Thursday, November 21st. The stock was 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 in the company, valued at $2,175,045.71. This trade represents a 54.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 20,800 shares of company stock worth $5,056,402. 1.70% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

PKG has been the topic of a number of recent research reports. Jefferies Financial Group upgraded shares of Packaging Co. of America from a “hold” rating to a “buy” rating and upped their target price for the company from $215.00 to $280.00 in a report on Wednesday, December 18th. Wells Fargo & Company reduced their target price on shares of Packaging Co. of America from $253.00 to $236.00 and set an “overweight” rating on the stock in a report on Thursday, January 30th. StockNews.com lowered shares of Packaging Co. of America from a “buy” rating to a “hold” rating in a report on Wednesday, January 29th. Citigroup upped their target price on shares of 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 reaffirmed a “buy” rating and set a $265.00 price objective (down previously from $282.00) on shares of Packaging Co. of America in a research note on Thursday, January 30th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $233.00.

Packaging Co. of America Stock Up 0.9 %

Shares of NYSE:PKG opened at $212.24 on Friday. 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 $163.29 and a 52-week high of $250.82. The company has a 50 day moving average of $231.11 and a two-hundred day moving average of $220.74. The company has a market capitalization of $19.06 billion, a price-to-earnings ratio of 23.77, a price-to-earnings-growth ratio of 2.29 and a beta of 0.77.

Packaging Co. of America (NYSE:PKG) last issued its quarterly earnings data on Tuesday, January 28th. The industrial products company reported $2.47 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.51 by ($0.04). Packaging Co. of America had a net margin of 9.60% and a return on equity of 19.67%. As a group, analysts forecast that Packaging Co. of America will post 11.15 earnings per share for the current fiscal year.

Packaging Co. of America Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Friday, December 20th were paid a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a dividend yield of 2.36%. The ex-dividend date of this dividend was Friday, December 20th. Packaging Co. of America’s dividend payout ratio (DPR) is currently 55.99%.

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.