D.A. Davidson & CO. Invests $224,000 in Packaging Co. of America (NYSE:PKG)

D.A. Davidson & CO. 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 disclosure with the Securities and Exchange Commission. The institutional investor acquired 994 shares of the industrial products company’s stock, valued at approximately $224,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of PKG. Allworth Financial LP grew its stake in Packaging Co. of America by 65.1% during the 3rd quarter. Allworth Financial LP now owns 312 shares of the industrial products company’s stock worth $67,000 after buying an additional 123 shares during the last quarter. Pallas Capital Advisors LLC bought a new position in shares of Packaging Co. of America during the third quarter worth about $356,000. First Trust Direct Indexing L.P. increased its holdings in shares of Packaging Co. of America by 9.9% in the 3rd quarter. First Trust Direct Indexing L.P. now owns 2,943 shares of the industrial products company’s stock worth $634,000 after acquiring an additional 264 shares during the period. US Bancorp DE increased its holdings in shares of Packaging Co. of America by 0.4% in the 3rd quarter. US Bancorp DE now owns 45,432 shares of the industrial products company’s stock worth $9,786,000 after acquiring an additional 193 shares during the period. Finally, AustralianSuper Pty Ltd bought a new stake in Packaging Co. of America in the 3rd quarter valued at about $1,461,000. Institutional investors and hedge funds own 89.78% of the company’s stock.

Insider Buying and Selling

In other news, SVP Joseph Vaughn sold 2,300 shares of the stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $244.89, for a total transaction of $563,247.00. Following the completion of the sale, the senior vice president now owns 9,197 shares in the company, valued at approximately $2,252,253.33. This represents a 20.01 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.70% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. StockNews.com upgraded shares of Packaging Co. of America from a “hold” rating to a “buy” rating in a research report on Wednesday. Seaport Res Ptn upgraded Packaging Co. of America from a “hold” rating to a “strong-buy” rating in a research report on Thursday, February 13th. Truist Financial reiterated a “buy” rating and set a $265.00 price target (down previously from $282.00) on shares of Packaging Co. of America in a research report on Thursday, January 30th. Wells Fargo & Company lowered their price target on 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. Finally, Citigroup lifted their price objective on shares of Packaging Co. of America from $232.00 to $235.00 and gave the company a “neutral” rating in a research note on Monday, January 6th. Two investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $233.00.

Packaging Co. of America Stock Down 1.0 %

PKG opened at $210.72 on Friday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.98 and a current ratio of 2.95. The company has a market capitalization of $18.92 billion, a PE ratio of 23.60, a P/E/G ratio of 2.41 and a beta of 0.77. The stock’s fifty day moving average is $222.48 and its 200-day moving average is $222.28. Packaging Co. of America has a one year low of $169.00 and a one year high of $250.82.

Packaging Co. of America (NYSE:PKG) last released its earnings results on Tuesday, January 28th. The industrial products company reported $2.47 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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%. On average, equities analysts predict that Packaging Co. of America will post 10.44 EPS 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, April 15th. Investors of record on Friday, March 14th will be paid a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a yield of 2.37%. The ex-dividend date of this dividend is Friday, March 14th. Packaging Co. of America’s dividend payout ratio is presently 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.