Fortitude Family Office LLC Buys 98 Shares of Packaging Co. of America (NYSE:PKG)

Fortitude Family Office LLC grew its stake in shares of Packaging Co. of America (NYSE:PKG) by 150.8% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 163 shares of the industrial products company’s stock after acquiring an additional 98 shares during the quarter. Fortitude Family Office LLC’s holdings in Packaging Co. of America were worth $37,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the stock. Sanctuary Advisors LLC raised its holdings in shares of Packaging Co. of America by 17.0% during the 3rd quarter. Sanctuary Advisors LLC now owns 20,270 shares of the industrial products company’s stock worth $4,366,000 after buying an additional 2,946 shares in the last quarter. Principal Financial Group Inc. raised its holdings in shares of Packaging Co. of America by 8.4% during the 3rd quarter. Principal Financial Group Inc. now owns 460,518 shares of the industrial products company’s stock worth $99,194,000 after buying an additional 35,614 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its holdings in shares of Packaging Co. of America by 227.5% during the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 32,243 shares of the industrial products company’s stock worth $6,945,000 after buying an additional 22,397 shares in the last quarter. Dai ichi Life Insurance Company Ltd raised its holdings in shares of Packaging Co. of America by 10.5% during the 2nd quarter. Dai ichi Life Insurance Company Ltd now owns 35,193 shares of the industrial products company’s stock worth $6,425,000 after buying an additional 3,355 shares in the last quarter. Finally, Citigroup Inc. raised its holdings in shares of Packaging Co. of America by 30.7% during the 3rd quarter. Citigroup Inc. now owns 115,005 shares of the industrial products company’s stock worth $24,772,000 after buying an additional 27,018 shares in the last quarter. 89.78% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

Insiders Place Their Bets

In other Packaging Co. of America news, CFO Robert P. Mundy sold 12,500 shares of the stock in a transaction that occurred 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 transaction, the chief financial officer now owns 43,954 shares in the company, valued at approximately $10,576,211.48. This represents a 22.14 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Donald R. Shirley sold 8,000 shares of the stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $240.20, for a total value of $1,921,600.00. Following the completion of the transaction, the senior vice president now owns 15,725 shares in the company, valued at approximately $3,777,145. The trade was a 33.72 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 33,300 shares of company stock worth $8,064,152. Corporate insiders own 1.60% of the company’s stock.

Packaging Co. of America Trading Down 0.4 %

NYSE PKG opened at $227.57 on Friday. The business’s 50-day moving average price is $236.01 and its two-hundred day moving average price is $214.61. Packaging Co. of America has a 12 month low of $159.57 and a 12 month high of $250.82. The firm has a market capitalization of $20.44 billion, a PE ratio of 26.52, a price-to-earnings-growth ratio of 3.34 and a beta of 0.79. The company has a current ratio of 2.95, a quick ratio of 1.98 and a debt-to-equity ratio of 0.58.

Packaging Co. of America (NYSE:PKG) last announced its earnings results on Tuesday, October 22nd. The industrial products company reported $2.65 EPS for the quarter, beating the consensus estimate of $2.50 by $0.15. Packaging Co. of America had a return on equity of 19.10% and a net margin of 9.46%. The company had revenue of $2.18 billion for the quarter, compared to analyst estimates of $2.09 billion. During the same quarter in the prior year, the company earned $2.05 EPS. The firm’s revenue for the quarter was up 14.9% compared to the same quarter last year. On average, analysts expect that Packaging Co. of America will post 9.07 EPS for the current year.

Packaging Co. of America Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Friday, December 20th will be given a dividend of $1.25 per share. The ex-dividend date is Friday, December 20th. This represents a $5.00 annualized dividend and a dividend yield of 2.20%. Packaging Co. of America’s payout ratio is 58.28%.

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.