Park Avenue Securities LLC Purchases 3,143 Shares of Packaging Co. of America (NYSE:PKG)

Park Avenue Securities LLC grew its holdings in shares of Packaging Co. of America (NYSE:PKG) by 76.1% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 7,273 shares of the industrial products company’s stock after purchasing an additional 3,143 shares during the period. Park Avenue Securities LLC’s holdings in Packaging Co. of America were worth $1,637,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Sanctuary Advisors LLC lifted its holdings in shares of Packaging Co. of America by 17.0% during the third quarter. Sanctuary Advisors LLC now owns 20,270 shares of the industrial products company’s stock valued at $4,366,000 after purchasing an additional 2,946 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Packaging Co. of America by 8.4% during the third quarter. Principal Financial Group Inc. now owns 460,518 shares of the industrial products company’s stock valued at $99,194,000 after purchasing an additional 35,614 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its holdings in Packaging Co. of America by 227.5% in 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 acquiring an additional 22,397 shares during the last quarter. Citigroup Inc. raised its holdings in Packaging Co. of America by 30.7% in the 3rd quarter. Citigroup Inc. now owns 115,005 shares of the industrial products company’s stock worth $24,772,000 after acquiring an additional 27,018 shares during the last quarter. Finally, Quest Partners LLC raised its holdings in Packaging Co. of America by 256.3% in the 3rd quarter. Quest Partners LLC now owns 7,729 shares of the industrial products company’s stock worth $1,665,000 after acquiring an additional 5,560 shares during the last quarter. 89.78% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

PKG has been the subject of a number of recent analyst reports. StockNews.com upgraded shares of Packaging Co. of America from a “hold” rating to a “buy” rating in a report on Tuesday, December 24th. Jefferies Financial Group upgraded shares of Packaging Co. of America from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $215.00 to $280.00 in a report on Wednesday, December 18th. Truist Financial boosted their price objective on shares of Packaging Co. of America from $252.00 to $282.00 and gave the stock a “buy” rating in a report on Monday, January 6th. Wells Fargo & Company boosted their target price on shares of Packaging Co. of America from $235.00 to $253.00 and gave the company an “overweight” rating in a research note on Thursday, October 24th. Finally, Citigroup boosted 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 research note on Monday, January 6th. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, 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 Packaging Co. of America stock in a transaction on Friday, November 8th. The shares were 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 owns 43,954 shares of the company’s stock, valued at approximately $10,576,211.48. The trade was a 22.14 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Joseph Vaughn sold 2,300 shares of Packaging Co. of America stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $244.89, for a total transaction of $563,247.00. Following the completion of the sale, the senior vice president now owns 9,197 shares in the company, valued at approximately $2,252,253.33. This trade represents a 20.01 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 33,300 shares of company stock valued at $8,064,152. Insiders own 1.70% of the company’s stock.

Packaging Co. of America Price Performance

NYSE PKG 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. The firm’s 50 day moving average price is $235.69 and its 200-day moving average price is $216.89. Packaging Co. of America has a 52-week low of $159.57 and a 52-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.

Packaging Co. of America (NYSE:PKG) last announced its earnings results 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 during the quarter, compared to the consensus estimate of $2.09 billion. Packaging Co. of America had a net margin of 9.46% and a return on equity of 19.10%. Packaging Co. of America’s revenue was up 14.9% compared to the same quarter last year. During the same period last year, the firm earned $2.05 earnings per share. Sell-side analysts forecast that Packaging Co. of America will post 9.08 EPS for the current fiscal year.

Packaging Co. of America Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Friday, December 20th were issued a $1.25 dividend. The ex-dividend date of this dividend was Friday, December 20th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.11%. Packaging Co. of America’s dividend payout ratio is currently 58.28%.

Packaging Co. of America Company 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.