Packaging Co. of America (NYSE:PKG) Holdings Boosted by AustralianSuper Pty Ltd

AustralianSuper Pty Ltd increased its position in shares of Packaging Co. of America (NYSE:PKG - Free Report) by 689.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 53,533 shares of the industrial products company's stock after acquiring an additional 46,748 shares during the quarter. AustralianSuper Pty Ltd owned approximately 0.06% of Packaging Co. of America worth $12,052,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Littlejohn Financial Services Inc. purchased a new stake in shares of Packaging Co. of America in the fourth quarter valued at $1,831,000. Asset Management One Co. Ltd. boosted its stake in Packaging Co. of America by 1.3% in the 4th quarter. Asset Management One Co. Ltd. now owns 39,704 shares of the industrial products company's stock worth $9,016,000 after buying an additional 514 shares during the last quarter. GEM Asset Management LLC purchased a new stake in Packaging Co. of America in the 4th quarter valued at about $206,000. Avidian Wealth Enterprises LLC increased its stake in shares of Packaging Co. of America by 16.5% during the 4th quarter. Avidian Wealth Enterprises LLC now owns 1,233 shares of the industrial products company's stock valued at $278,000 after acquiring an additional 175 shares during the last quarter. Finally, Certuity LLC purchased a new position in shares of Packaging Co. of America during the 4th quarter worth about $218,000. 89.78% of the stock is owned by hedge funds and other institutional investors.

Packaging Co. of America Stock Up 0.0 %

Shares of Packaging Co. of America stock traded up $0.10 during trading hours on Wednesday, hitting $212.24. 497,090 shares of the company's stock traded hands, compared to its average volume of 941,375. Packaging Co. of America has a twelve month low of $167.60 and a twelve month high of $250.82. The company has a market cap of $19.06 billion, a PE ratio of 23.77, a PEG ratio of 2.44 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. The stock has a 50 day simple moving average of $225.28 and a 200-day simple moving average of $221.79.

Packaging Co. of America (NYSE:PKG - Get Free Report) last posted its quarterly earnings data on Tuesday, January 28th. The industrial products company reported $2.47 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.51 by ($0.04). Packaging Co. of America had a return on equity of 19.67% and a net margin of 9.60%. Equities research analysts anticipate that Packaging Co. of America will post 10.44 earnings per share for the current fiscal year.

Packaging Co. of America Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Friday, December 20th were issued a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a yield of 2.36%. The ex-dividend date was Friday, December 20th. Packaging Co. of America's dividend payout ratio is currently 55.99%.

Insider Transactions at Packaging Co. of America

In related news, SVP Joseph Vaughn sold 2,300 shares of the business's stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $244.89, for a total value of $563,247.00. Following the completion of 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Paul T. Stecko sold 10,500 shares of the stock in a transaction that occurred on 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 directly owns 8,881 shares in the company, valued at approximately $2,175,045.71. This represents a 54.18 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.70% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on PKG shares. Seaport Res Ptn upgraded shares of Packaging Co. of America from a "hold" rating to a "strong-buy" rating in a report on Thursday, February 13th. StockNews.com cut shares of Packaging Co. of America from a "buy" rating to a "hold" rating in a research note on Wednesday, January 29th. Citigroup upped their price objective 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. Truist Financial reiterated a "buy" rating and issued a $265.00 target price (down previously from $282.00) on shares of Packaging Co. of America in a report on Thursday, January 30th. Finally, 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 research note on Wednesday, December 18th. Three equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target 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.