Mirae Asset Global Investments Co. Ltd. Acquires 11,648 Shares of Packaging Co. of America (NYSE:PKG)

Mirae Asset Global Investments Co. Ltd. increased its stake in Packaging Co. of America (NYSE:PKG - Free Report) by 16.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 82,979 shares of the industrial products company's stock after purchasing an additional 11,648 shares during the period. Mirae Asset Global Investments Co. Ltd. owned approximately 0.09% of Packaging Co. of America worth $18,821,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. State Street Corp increased its stake in Packaging Co. of America by 3.2% in the 3rd quarter. State Street Corp now owns 3,948,546 shares of the industrial products company's stock worth $855,212,000 after purchasing an additional 123,050 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in Packaging Co. of America by 3.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,937,113 shares of the industrial products company's stock valued at $632,654,000 after purchasing an additional 98,223 shares during the period. Geode Capital Management LLC boosted its position in Packaging Co. of America by 0.6% during the 3rd quarter. Geode Capital Management LLC now owns 2,337,296 shares of the industrial products company's stock valued at $501,896,000 after acquiring an additional 12,936 shares in the last quarter. FMR LLC lifted its position in Packaging Co. of America by 3.4% during the 3rd quarter. FMR LLC now owns 1,076,350 shares of the industrial products company's stock valued at $231,846,000 after acquiring an additional 35,827 shares during the period. Finally, Stifel Financial Corp boosted its holdings in Packaging Co. of America by 1,462.2% in the third quarter. Stifel Financial Corp now owns 573,073 shares of the industrial products company's stock worth $123,440,000 after acquiring an additional 536,389 shares in the last quarter. 89.78% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. 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. Citigroup boosted their price objective on shares of Packaging Co. of America from $232.00 to $235.00 and gave the company a "neutral" rating in a report on Monday, January 6th. StockNews.com downgraded shares of Packaging Co. of America from a "buy" rating to a "hold" rating in a research report on Wednesday, January 29th. Wells Fargo & Company cut their price objective on Packaging Co. of America from $253.00 to $236.00 and set an "overweight" rating for the company in a report on Thursday, January 30th. Finally, Truist Financial reiterated a "buy" rating and issued a $265.00 price objective (down previously from $282.00) on shares of Packaging Co. of America in a research note on Thursday, January 30th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $233.00.

Insiders Place Their Bets

In other Packaging Co. of America news, SVP Joseph Vaughn sold 2,300 shares of Packaging Co. of America stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $244.89, for a total value of $563,247.00. Following the completion of the transaction, the senior vice president now directly owns 9,197 shares of the company's stock, valued at $2,252,253.33. This trade represents a 20.01 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, SVP Donald R. Shirley sold 8,000 shares of the company's stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $240.20, for a total transaction of $1,921,600.00. Following the sale, the senior vice president now owns 15,725 shares in the company, valued at $3,777,145. This represents a 33.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 20,800 shares of company stock worth $5,056,402 in the last 90 days. 1.60% of the stock is currently owned by corporate insiders.

Packaging Co. of America Price Performance

NYSE:PKG traded down $2.29 during trading hours on Friday, hitting $210.03. 663,725 shares of the stock traded hands, compared to its average volume of 948,715. The company has a market cap of $18.86 billion, a price-to-earnings ratio of 23.52, a price-to-earnings-growth ratio of 2.40 and a beta of 0.77. Packaging Co. of America has a 1 year low of $163.68 and a 1 year high of $250.82. The stock has a 50 day moving average price of $230.33 and a 200 day moving average price of $221.05. The company has a quick ratio of 1.98, a current ratio of 2.95 and a debt-to-equity ratio of 0.58.

Packaging Co. of America (NYSE:PKG - Get Free Report) last released its quarterly earnings data 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%. Sell-side analysts forecast that Packaging Co. of America will post 10.6 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 yield of 2.38%. Packaging Co. of America's dividend payout ratio is currently 55.99%.

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.