Banque Pictet & Cie SA Has $11.94 Million Stock Position in Packaging Co. of America (NYSE:PKG)

Banque Pictet & Cie SA grew its holdings in Packaging Co. of America (NYSE:PKG) by 0.2% during the fourth quarter, Holdings Channel.com reports. The firm owned 53,045 shares of the industrial products company’s stock after acquiring an additional 107 shares during the quarter. Banque Pictet & Cie SA’s holdings in Packaging Co. of America were worth $11,942,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Larson Financial Group LLC increased its stake in Packaging Co. of America by 234.7% in the 3rd quarter. Larson Financial Group LLC now owns 164 shares of the industrial products company’s stock valued at $35,000 after buying an additional 115 shares during the last quarter. Fortitude Family Office LLC increased its position in shares of Packaging Co. of America by 150.8% in the fourth quarter. Fortitude Family Office LLC now owns 163 shares of the industrial products company’s stock valued at $37,000 after acquiring an additional 98 shares during the last quarter. Golden State Wealth Management LLC acquired a new stake in shares of Packaging Co. of America in the fourth quarter valued at about $48,000. Assetmark Inc. raised its holdings in Packaging Co. of America by 44.6% during the third quarter. Assetmark Inc. now owns 269 shares of the industrial products company’s stock worth $58,000 after acquiring an additional 83 shares in the last quarter. Finally, Brooklyn Investment Group acquired a new position in Packaging Co. of America during the third quarter valued at approximately $64,000. Institutional investors own 89.78% of the company’s stock.

Insiders Place Their Bets

In related news, SVP Joseph Vaughn sold 2,300 shares of Packaging Co. of America stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $244.89, for a total transaction of $563,247.00. Following the sale, the senior vice president now directly owns 9,197 shares of the company’s stock, valued at approximately $2,252,253.33. The trade was a 20.01 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Paul T. Stecko sold 10,500 shares of the stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $244.91, for a total transaction 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 approximately $2,175,045.71. The trade was a 54.18 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.60% of the company’s stock.

Packaging Co. of America Stock Performance

Shares of NYSE:PKG opened at $212.01 on Friday. Packaging Co. of America has a 12-month low of $164.20 and a 12-month high of $250.82. The company’s 50 day moving average price is $227.47 and its two-hundred day moving average price is $221.23. The firm has a market cap of $19.04 billion, a PE ratio of 23.74, a PEG ratio of 2.40 and a beta of 0.77. The company has a quick ratio of 1.98, a current ratio of 2.95 and a debt-to-equity ratio of 0.58.

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 for the quarter, missing analysts’ consensus estimates of $2.51 by ($0.04). Packaging Co. of America had a net margin of 9.60% and a return on equity of 19.67%. Equities research analysts predict that Packaging Co. of America will post 10.6 earnings per share for the current year.

Packaging Co. of America Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Friday, December 20th were given a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a yield of 2.36%. The ex-dividend date of this dividend was Friday, December 20th. Packaging Co. of America’s dividend payout ratio is presently 55.99%.

Wall Street Analyst Weigh In

Several research firms have weighed in on PKG. Truist Financial reaffirmed 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 dropped their price target on shares of Packaging Co. of America from $253.00 to $236.00 and set an “overweight” rating on the stock in a research report on Thursday, January 30th. StockNews.com downgraded shares of Packaging Co. of America from a “buy” rating to a “hold” rating in a research report on Wednesday, January 29th. Citigroup upped their target price on shares of Packaging Co. of America from $232.00 to $235.00 and gave the company a “neutral” rating in a report on Monday, January 6th. Finally, Jefferies Financial Group upgraded Packaging Co. of America from a “hold” rating to a “buy” rating and lifted their price target for the stock 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 four have issued a buy rating to the stock. Based on data from MarketBeat, Packaging Co. of America currently has a consensus rating of “Moderate Buy” and an average target price of $233.00.

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.