Park Avenue Securities LLC Has $1.64 Million Position in Packaging Co. of America (NYSE:PKG)

Park Avenue Securities LLC grew its holdings in Packaging Co. of America (NYSE:PKG) by 76.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 7,273 shares of the industrial products company’s stock after purchasing an additional 3,143 shares during the quarter. Park Avenue Securities LLC’s holdings in Packaging Co. of America were worth $1,637,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Mercer Global Advisors Inc. ADV raised its position in shares of Packaging Co. of America by 40.6% during the second quarter. Mercer Global Advisors Inc. ADV now owns 47,049 shares of the industrial products company’s stock worth $8,589,000 after acquiring an additional 13,575 shares during the last quarter. Vanguard Personalized Indexing Management LLC raised its position in shares of Packaging Co. of America by 14.9% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 6,379 shares of the industrial products company’s stock worth $1,161,000 after acquiring an additional 828 shares during the last quarter. Hsbc Holdings PLC raised its position in shares of Packaging Co. of America by 2.6% during the second quarter. Hsbc Holdings PLC now owns 224,066 shares of the industrial products company’s stock worth $41,012,000 after acquiring an additional 5,585 shares during the last quarter. Intech Investment Management LLC raised its position in shares of Packaging Co. of America by 430.8% during the second quarter. Intech Investment Management LLC now owns 12,814 shares of the industrial products company’s stock worth $2,339,000 after acquiring an additional 10,400 shares during the last quarter. Finally, Benjamin F. Edwards & Company Inc. raised its position in shares of Packaging Co. of America by 15.9% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 25,905 shares of the industrial products company’s stock worth $4,730,000 after acquiring an additional 3,552 shares during the last quarter. Institutional investors and hedge funds own 89.78% of the company’s stock.

Insider Activity at Packaging Co. of America

In other news, 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 completion of the transaction, the director now directly owns 8,881 shares of the company’s stock, valued at $2,175,045.71. This trade represents a 54.18 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Robert P. Mundy sold 12,500 shares of the firm’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $240.62, for a total value of $3,007,750.00. Following the completion of the transaction, the chief financial officer now directly owns 43,954 shares of the company’s stock, valued at $10,576,211.48. The trade was a 22.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 33,300 shares of company stock valued at $8,064,152 in the last three months. Corporate insiders own 1.70% of the company’s stock.

Packaging Co. of America Trading Up 0.9 %

Shares of PKG stock opened at $237.52 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. Packaging Co. of America has a fifty-two week low of $159.57 and a fifty-two week high of $250.82. The company has a market cap of $21.33 billion, a PE ratio of 27.68, a P/E/G ratio of 2.24 and a beta of 0.79. The stock’s fifty day moving average price is $235.69 and its two-hundred day moving average price is $216.89.

Packaging Co. of America (NYSE:PKG) last released its quarterly earnings data on Tuesday, October 22nd. The industrial products company reported $2.65 earnings per share for the quarter, beating the consensus estimate of $2.50 by $0.15. The company had revenue of $2.18 billion for the quarter, compared to the consensus estimate of $2.09 billion. Packaging Co. of America had a return on equity of 19.10% and a net margin of 9.46%. Packaging Co. of America’s revenue for the quarter was up 14.9% on a year-over-year basis. During the same quarter last year, the business posted $2.05 EPS. Equities analysts predict that Packaging Co. of America will post 9.08 EPS for the current fiscal year.

Packaging Co. of America Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Friday, December 20th were given a $1.25 dividend. This represents a $5.00 annualized dividend and a dividend yield of 2.11%. The ex-dividend date was Friday, December 20th. Packaging Co. of America’s dividend payout ratio (DPR) is presently 58.28%.

Wall Street Analyst Weigh In

A number of research firms recently commented on PKG. Wells Fargo & Company upped their price objective on Packaging Co. of America from $235.00 to $253.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. Truist Financial upped their price objective on Packaging Co. of America from $252.00 to $282.00 and gave the company a “buy” rating in a report on Monday, January 6th. Citigroup upped their price objective on Packaging Co. of America from $232.00 to $235.00 and gave the company a “neutral” rating in a report on Monday, January 6th. StockNews.com upgraded Packaging Co. of America from a “hold” rating to a “buy” rating in a report on Tuesday, December 24th. Finally, Jefferies Financial Group upgraded Packaging Co. of America from a “hold” rating to a “buy” rating and upped their price objective for the company from $215.00 to $280.00 in a report on Wednesday, December 18th. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $238.67.

About Packaging Co. of America

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.