Packaging Co. of America (NYSE:PKG) Holdings Lifted by Czech National Bank

Czech National Bank boosted its holdings in Packaging Co. of America (NYSE:PKG) by 6.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 18,163 shares of the industrial products company’s stock after acquiring an additional 1,176 shares during the quarter. Czech National Bank’s holdings in Packaging Co. of America were worth $3,912,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Register Financial Advisors LLC bought a new stake in shares of Packaging Co. of America in the 1st quarter worth approximately $25,000. Neo Ivy Capital Management acquired a new position in Packaging Co. of America in the fourth quarter worth approximately $28,000. Asset Dedication LLC increased its holdings in shares of Packaging Co. of America by 200.0% in the second quarter. Asset Dedication LLC now owns 168 shares of the industrial products company’s stock valued at $31,000 after buying an additional 112 shares in the last quarter. Central Pacific Bank Trust Division acquired a new stake in shares of Packaging Co. of America during the 3rd quarter valued at $32,000. Finally, Tortoise Investment Management LLC bought a new stake in shares of Packaging Co. of America during the 2nd quarter worth $33,000. 89.78% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

PKG has been the topic of a number of recent analyst reports. Bank of America boosted their target price on 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. Wells Fargo & Company boosted their price objective on Packaging Co. of America from $215.00 to $235.00 and gave the stock an “overweight” rating in a report on Monday, October 7th. Citigroup raised their target price on shares of Packaging Co. of America from $199.00 to $221.00 and gave the stock a “neutral” rating in a report on Wednesday, October 2nd. StockNews.com lowered shares of Packaging Co. of America from a “buy” rating to a “hold” rating in a report on Saturday, September 28th. Finally, Truist Financial raised their price objective on shares of Packaging Co. of America from $215.00 to $219.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, Packaging Co. of America presently has an average rating of “Hold” and a consensus price target of $199.50.

Insider Buying and Selling at Packaging Co. of America

In other news, EVP Charles J. Carter sold 5,389 shares of the firm’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 completion of the sale, the executive vice president now directly owns 25,539 shares of the company’s stock, valued at $5,012,794.92. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, SVP Donald R. Shirley sold 6,000 shares of the company’s stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $196.28, for a total value of $1,177,680.00. 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. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Charles J. Carter sold 5,389 shares of the stock in a transaction on 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 directly owns 25,539 shares in the company, valued at $5,012,794.92. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.60% of the company’s stock.

Packaging Co. of America Price Performance

NYSE PKG opened at $217.95 on Friday. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.43 and a quick ratio of 1.71. The firm has a market capitalization of $19.57 billion, a price-to-earnings ratio of 27.35, a price-to-earnings-growth ratio of 4.25 and a beta of 0.77. The company has a 50 day simple moving average of $206.56 and a 200-day simple moving average of $191.85. Packaging Co. of America has a 52-week low of $143.82 and a 52-week high of $218.67.

Packaging Co. of America (NYSE:PKG) last released its quarterly earnings data 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. The firm had revenue of $2.08 billion for the quarter, compared to analyst estimates of $2.02 billion. Packaging Co. of America had a net margin of 9.06% and a return on equity of 18.21%. The company’s revenue for the quarter was up 6.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.31 EPS. Equities research analysts predict that Packaging Co. of America will post 8.73 earnings per share for the current fiscal year.

Packaging Co. of America Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Tuesday, October 15th were given a dividend of $1.25 per share. The ex-dividend date was Monday, September 16th. This represents a $5.00 dividend on an annualized basis and a yield of 2.29%. Packaging Co. of America’s payout ratio is 62.74%.

About Packaging Co. of America

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.