XTX Topco Ltd Invests $1.53 Million in Packaging Co. of America (NYSE:PKG)

XTX Topco Ltd bought a new stake in Packaging Co. of America (NYSE:PKG) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 8,375 shares of the industrial products company’s stock, valued at approximately $1,529,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Register Financial Advisors LLC acquired a new position in shares of Packaging Co. of America in the 1st quarter valued at about $25,000. Neo Ivy Capital Management acquired a new position in Packaging Co. of America during the fourth quarter valued at approximately $28,000. Asset Dedication LLC grew its stake in 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 buying an additional 112 shares during the period. Tortoise Investment Management LLC acquired a new stake in shares of Packaging Co. of America in the second quarter worth $33,000. Finally, Headlands Technologies LLC acquired a new stake in shares of Packaging Co. of America in the first quarter worth $43,000. Hedge funds and other institutional investors own 89.78% of the company’s stock.

Analysts Set New Price Targets

PKG has been the subject of a number of research reports. Bank of America upped their price target on shares of Packaging Co. of America from $197.00 to $200.00 and gave the stock a “buy” rating in a research report on Monday, June 17th. StockNews.com raised Packaging Co. of America from a “hold” rating to a “buy” rating in a research report on Thursday. Citigroup increased their target price on Packaging Co. of America from $181.00 to $187.00 and gave the company a “neutral” rating in a research note on Monday, July 8th. Truist Financial boosted their price target on Packaging Co. of America from $215.00 to $219.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Finally, Wells Fargo & Company increased their price objective on shares of Packaging Co. of America from $194.00 to $215.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. Four analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $190.50.

Insider Transactions at Packaging Co. of America

In other news, EVP Charles J. Carter sold 5,389 shares of the stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $196.28, for a total transaction of $1,057,752.92. Following the transaction, the executive vice president now owns 25,539 shares of the company’s stock, valued at $5,012,794.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, SVP Donald R. Shirley sold 6,000 shares of the business’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $196.28, for a total value of $1,177,680.00. Following the completion of the sale, the senior vice president now directly owns 20,772 shares in the company, valued at approximately $4,077,128.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Charles J. Carter sold 5,389 shares of the firm’s stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $196.28, for a total value 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. Insiders own 1.60% of the company’s stock.

Packaging Co. of America Stock Up 1.5 %

Shares of NYSE PKG opened at $215.58 on Friday. The firm has a market cap of $19.36 billion, a price-to-earnings ratio of 26.95, a PEG ratio of 4.10 and a beta of 0.77. Packaging Co. of America has a 1 year low of $143.82 and a 1 year high of $217.69. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.71 and a current ratio of 2.43. The stock’s 50-day simple moving average is $199.22 and its 200-day simple moving average is $188.32.

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 (EPS) for the quarter, beating analysts’ consensus estimates of $2.14 by $0.06. Packaging Co. of America had a return on equity of 18.21% and a net margin of 9.06%. The company had revenue of $2.08 billion for the quarter, compared to analyst estimates of $2.02 billion. During the same period in the prior year, the company posted $2.31 EPS. Packaging Co. of America’s quarterly revenue was up 6.3% on a year-over-year basis. As a group, equities analysts anticipate that Packaging Co. of America will post 8.72 earnings per share for the current fiscal year.

Packaging Co. of America Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 16th will be issued a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a yield of 2.32%. The ex-dividend date is Monday, September 16th. Packaging Co. of America’s dividend payout ratio is currently 62.50%.

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.