9,727 Shares in Packaging Co. of America (NYSE:PKG) Bought by Avanza Fonder AB

Avanza Fonder AB purchased a new stake in Packaging Co. of America (NYSE:PKG - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 9,727 shares of the industrial products company's stock, valued at approximately $2,190,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PKG. Central Pacific Bank Trust Division purchased a new stake in Packaging Co. of America during the 3rd quarter valued at approximately $32,000. Larson Financial Group LLC lifted its position in Packaging Co. of America by 234.7% in the third quarter. Larson Financial Group LLC now owns 164 shares of the industrial products company's stock valued at $35,000 after purchasing an additional 115 shares during the period. Fortitude Family Office LLC increased its position in Packaging Co. of America by 150.8% during the 4th quarter. Fortitude Family Office LLC now owns 163 shares of the industrial products company's stock worth $37,000 after purchasing an additional 98 shares during the period. Assetmark Inc. lifted its holdings in shares of Packaging Co. of America by 44.6% in the 3rd quarter. Assetmark Inc. now owns 269 shares of the industrial products company's stock valued at $58,000 after buying an additional 83 shares during the period. Finally, Brooklyn Investment Group acquired a new position in Packaging Co. of America during the third quarter worth $64,000. Institutional investors and hedge funds own 89.78% of the company's stock.

Wall Street Analyst Weigh In

PKG has been the subject of several recent analyst reports. Wells Fargo & Company raised their price objective 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. StockNews.com upgraded Packaging Co. of America from a "hold" rating to a "buy" rating in a report on Tuesday, December 24th. Jefferies Financial Group raised Packaging Co. of America from a "hold" rating to a "buy" rating and lifted their price objective 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 company a "neutral" rating in a report on Monday, January 6th. Finally, Truist Financial lifted their price target on Packaging Co. of America from $252.00 to $282.00 and gave the stock a "buy" rating in a research note on Monday, January 6th. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, Packaging Co. of America presently has a consensus rating of "Moderate Buy" and an average price target of $238.67.

Packaging Co. of America Price Performance

Packaging Co. of America stock traded up $2.20 during midday trading on Friday, reaching $237.52. 1,768,137 shares of the company were exchanged, compared to its average volume of 743,700. The company has a market capitalization of $21.33 billion, a price-to-earnings ratio of 27.68, a P/E/G ratio of 2.24 and a beta of 0.79. 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 simple moving average is $235.69 and its 200-day simple moving average is $217.15. Packaging Co. of America has a 1 year low of $159.57 and a 1 year high of $250.82.

Packaging Co. of America (NYSE:PKG - Get Free Report) last announced its quarterly earnings data on Tuesday, October 22nd. The industrial products company reported $2.65 EPS for the quarter, beating analysts' consensus estimates 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 business had revenue of $2.18 billion during the quarter, compared to the consensus estimate of $2.09 billion. During the same quarter in the previous year, the business earned $2.05 earnings per share. The business's revenue for the quarter was up 14.9% on a year-over-year basis. On average, analysts anticipate that Packaging Co. of America will post 9.08 EPS for the current year.

Packaging Co. of America Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Friday, December 20th were paid a dividend of $1.25 per share. The ex-dividend date 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%.

Insider Transactions at Packaging Co. of America

In related news, Director Paul T. Stecko sold 10,500 shares of the business's stock in a transaction dated 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 transaction, the director now owns 8,881 shares in the company, valued at approximately $2,175,045.71. The trade was a 54.18 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Joseph Vaughn sold 2,300 shares of the firm's stock in a transaction that occurred on Tuesday, December 3rd. The stock was 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 $2,252,253.33. The trade was a 20.01 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 33,300 shares of company stock valued at $8,064,152. Corporate insiders own 1.70% of the company's stock.

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.