Choreo LLC Takes Position in Packaging Co. of America (NYSE:PKG)

Choreo LLC acquired a new stake in Packaging Co. of America (NYSE:PKG) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 2,377 shares of the industrial products company’s stock, valued at approximately $429,000.

Several other institutional investors have also bought and sold shares of PKG. Caprock Group LLC purchased a new stake in shares of Packaging Co. of America in the second quarter worth $441,000. Acadian Asset Management LLC boosted its holdings in shares of Packaging Co. of America by 194.1% during the second quarter. Acadian Asset Management LLC now owns 27,188 shares of the industrial products company’s stock worth $4,959,000 after purchasing an additional 17,942 shares during the period. Asset Dedication LLC boosted its holdings in shares of Packaging Co. of America by 200.0% during the second quarter. Asset Dedication LLC now owns 168 shares of the industrial products company’s stock worth $31,000 after purchasing an additional 112 shares during the period. Strategic Financial Concepts LLC purchased a new stake in shares of Packaging Co. of America during the second quarter worth about $50,000. Finally, Los Angeles Capital Management LLC lifted its holdings in Packaging Co. of America by 51.5% in the second quarter. Los Angeles Capital Management LLC now owns 83,972 shares of the industrial products company’s stock worth $15,330,000 after buying an additional 28,553 shares during the period. Hedge funds and other institutional investors own 89.78% of the company’s stock.

Insider Buying and Selling

In other Packaging Co. of America news, EVP Charles J. Carter sold 5,389 shares of Packaging Co. of America stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $196.28, for a total value of $1,057,752.92. Following the completion of the transaction, the executive vice president now owns 25,539 shares of the company’s stock, valued at $5,012,794.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, SVP Donald R. Shirley sold 6,000 shares of the business’s stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $196.28, for a total transaction of $1,177,680.00. Following the completion of the sale, the senior vice president now owns 20,772 shares of the company’s stock, valued at $4,077,128.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Charles J. Carter sold 5,389 shares of the business’s stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $196.28, for a total transaction of $1,057,752.92. Following the transaction, the executive vice president now owns 25,539 shares in the company, valued at $5,012,794.92. The disclosure for this sale can be found here. 1.60% of the stock is currently owned by corporate insiders.

Packaging Co. of America Price Performance

Shares of PKG opened at $214.57 on Tuesday. The company has a market cap of $19.27 billion, a price-to-earnings ratio of 26.82, a price-to-earnings-growth ratio of 4.10 and a beta of 0.77. Packaging Co. of America has a twelve month low of $143.82 and a twelve month high of $217.69. The company has a quick ratio of 1.71, a current ratio of 2.43 and a debt-to-equity ratio of 0.60. The company has a 50 day moving average of $197.83 and a two-hundred day moving average of $187.92.

Packaging Co. of America (NYSE:PKG) last announced its earnings results on Tuesday, July 23rd. The industrial products company reported $2.20 earnings per share for the quarter, beating the consensus estimate of $2.14 by $0.06. Packaging Co. of America had a net margin of 9.06% and a return on equity of 18.21%. The company had revenue of $2.08 billion during the quarter, compared to the consensus estimate of $2.02 billion. During the same period last year, the firm earned $2.31 earnings per share. Packaging Co. of America’s revenue was up 6.3% compared to the same quarter last year. As a group, analysts predict that Packaging Co. of America will post 8.72 earnings per share for the current fiscal year.

Packaging Co. of America Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 16th will be issued a dividend of $1.25 per share. The ex-dividend date of this dividend is Monday, September 16th. This represents a $5.00 annualized dividend and a dividend yield of 2.33%. Packaging Co. of America’s dividend payout ratio (DPR) is presently 62.50%.

Analysts Set New Price Targets

PKG has been the subject of several recent research reports. Bank of America lifted their target price on shares of Packaging Co. of America from $197.00 to $200.00 and gave the company a “buy” rating in a report on Monday, June 17th. Wells Fargo & Company lifted their target price on shares of Packaging Co. of America from $194.00 to $215.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. Citigroup lifted their target price on shares of Packaging Co. of America from $181.00 to $187.00 and gave the stock a “neutral” rating in a research report on Monday, July 8th. StockNews.com downgraded shares of Packaging Co. of America from a “buy” rating to a “hold” rating in a research report on Wednesday, September 11th. Finally, Truist Financial lifted their target price on shares of Packaging Co. of America from $215.00 to $219.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $190.50.

Packaging Co. of America Company Profile

Packaging Corporation of America manufactures and sells containerboard and corrugated packaging products in the United States. The company operates through three segments: Packaging, Paper, and Corporate and Other. The Packaging segment offers various containerboard and corrugated packaging products, such as conventional shipping containers used to protect and transport manufactured goods; multi-color boxes and displays that help to merchandise the packaged product in retail locations; and honeycomb protective packaging products, as well as packaging for meat, fresh fruit and vegetables, processed food, beverages, and other industrial and consumer products.