Packaging Co. of America (NYSE:PKG) Position Decreased by JLB & Associates Inc.

JLB & Associates Inc. reduced its holdings in Packaging Co. of America (NYSE:PKG) by 1.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 82,285 shares of the industrial products company’s stock after selling 1,614 shares during the quarter. Packaging Co. of America accounts for 2.5% of JLB & Associates Inc.’s holdings, making the stock its 15th biggest position. JLB & Associates Inc. owned about 0.09% of Packaging Co. of America worth $18,525,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the business. Stifel Financial Corp lifted its holdings in shares of Packaging Co. of America by 1,462.2% during the third quarter. Stifel Financial Corp now owns 573,073 shares of the industrial products company’s stock valued at $123,440,000 after purchasing an additional 536,389 shares during the last quarter. International Assets Investment Management LLC increased its stake in Packaging Co. of America by 41,151.7% in the 3rd 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. Conning Inc. acquired a new stake in Packaging Co. of America during the 4th quarter worth about $32,329,000. Two Sigma Advisers LP lifted its stake in Packaging Co. of America by 218.1% during the third quarter. Two Sigma Advisers LP now owns 207,700 shares of the industrial products company’s stock valued at $44,739,000 after buying an additional 142,400 shares in the last quarter. Finally, Mizuho Securities USA LLC boosted its holdings in shares of Packaging Co. of America by 1,800.2% in the third quarter. Mizuho Securities USA LLC now owns 130,583 shares of the industrial products company’s stock worth $28,128,000 after buying an additional 123,711 shares during the period. 89.78% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, SVP Joseph Vaughn sold 2,300 shares of Packaging Co. of America stock in a transaction on 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 approximately $2,252,253.33. The trade was a 20.01 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.60% of the company’s stock.

Packaging Co. of America Price Performance

Shares of NYSE:PKG opened at $209.49 on Friday. The firm has a market cap of $18.81 billion, a price-to-earnings ratio of 23.46, a P/E/G ratio of 2.44 and a beta of 0.77. Packaging Co. of America has a 1 year low of $169.00 and a 1 year high of $250.82. The company has a current ratio of 2.95, a quick ratio of 1.98 and a debt-to-equity ratio of 0.58. The business has a fifty day simple moving average of $224.69 and a 200 day simple moving average of $221.71.

Packaging Co. of America (NYSE:PKG) last issued its earnings results on Tuesday, January 28th. The industrial products company reported $2.47 earnings per share for the quarter, missing the consensus estimate of $2.51 by ($0.04). Packaging Co. of America had a return on equity of 19.67% and a net margin of 9.60%. As a group, sell-side analysts predict that Packaging Co. of America will post 10.44 earnings per share for the current fiscal year.

Packaging Co. of America Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Friday, December 20th were paid a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a yield of 2.39%. The ex-dividend date was Friday, December 20th. Packaging Co. of America’s dividend payout ratio (DPR) is presently 55.99%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Wells Fargo & Company cut their price target 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. Truist Financial reissued a “buy” rating and set a $265.00 target price (down from $282.00) on shares of Packaging Co. of America in a research note on Thursday, January 30th. Seaport Res Ptn raised Packaging Co. of America from a “hold” rating to a “strong-buy” rating in a research report on Thursday, February 13th. Citigroup upped their price target on Packaging Co. of America from $232.00 to $235.00 and gave the company a “neutral” rating in a research report on Monday, January 6th. Finally, Jefferies Financial Group upgraded Packaging Co. of America from a “hold” rating to a “buy” rating and raised their price objective for the stock from $215.00 to $280.00 in a research report on Wednesday, December 18th. Three equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Packaging Co. of America presently has a consensus rating of “Moderate Buy” and a consensus target price of $233.00.

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.