Buck Wealth Strategies LLC Boosts Position in Packaging Co. of America (NYSE:PKG)

Buck Wealth Strategies LLC grew its position in shares of Packaging Co. of America (NYSE:PKG - Free Report) by 59.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,818 shares of the industrial products company's stock after purchasing an additional 1,427 shares during the period. Buck Wealth Strategies LLC's holdings in Packaging Co. of America were worth $860,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Sanctuary Advisors LLC boosted its holdings in 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 valued at $4,366,000 after acquiring an additional 2,946 shares during the period. Principal Financial Group Inc. lifted its position in Packaging Co. of America by 8.4% in 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. GAMMA Investing LLC boosted its stake in shares of Packaging Co. of America by 24.2% during the fourth quarter. GAMMA Investing LLC now owns 2,431 shares of the industrial products company's stock valued at $547,000 after purchasing an additional 473 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its holdings in shares of Packaging Co. of America by 227.5% in the third 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 purchasing an additional 22,397 shares during the last quarter. Finally, Citigroup Inc. increased its stake in shares of Packaging Co. of America by 30.7% in the third 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 during the period. 89.78% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have issued reports on PKG. Wells Fargo & Company cut 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 report on Thursday, January 30th. Citigroup raised their target price on Packaging Co. of America from $232.00 to $235.00 and gave the stock a "neutral" rating in a research note on Monday, January 6th. 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. Jefferies Financial Group raised Packaging Co. of America from a "hold" rating to a "buy" rating and boosted their target price for the company from $215.00 to $280.00 in a research note on Wednesday, December 18th. Finally, StockNews.com lowered Packaging Co. of America from a "buy" rating to a "hold" rating in a research note on Wednesday, January 29th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, Packaging Co. of America currently has a consensus rating of "Moderate Buy" and a consensus price target of $233.00.

Packaging Co. of America Stock Down 0.4 %

PKG stock traded down $0.85 during midday trading on Monday, hitting $209.37. The stock had a trading volume of 722,443 shares, compared to its average volume of 940,652. The business has a 50-day moving average of $230.33 and a two-hundred day moving average of $221.25. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.95 and a quick ratio of 1.98. The firm has a market cap of $18.80 billion, a price-to-earnings ratio of 23.45, a price-to-earnings-growth ratio of 2.40 and a beta of 0.77. Packaging Co. of America has a 52-week low of $163.68 and a 52-week high of $250.82.

Packaging Co. of America (NYSE:PKG - Get Free Report) 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 return on equity of 19.67% and a net margin of 9.60%. As a group, equities research analysts forecast that Packaging Co. of America will post 10.6 earnings per share 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. Stockholders of record on Friday, December 20th were given 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 2.39%. Packaging Co. of America's dividend payout ratio is currently 55.99%.

Insider Buying and Selling

In related news, SVP Joseph Vaughn sold 2,300 shares of the company's stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $244.89, for a total value of $563,247.00. Following the transaction, the senior vice president now owns 9,197 shares in the company, valued at $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 at this hyperlink. Also, Director Paul T. Stecko sold 10,500 shares of the firm's stock in a transaction dated 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 sale, the director now owns 8,881 shares of the company's stock, valued at approximately $2,175,045.71. This represents a 54.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 20,800 shares of company stock worth $5,056,402 in the last 90 days. Insiders own 1.60% of the company's stock.

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.