State of Alaska Department of Revenue Has $2.29 Million Stock Position in Packaging Co. of America (NYSE:PKG)

State of Alaska Department of Revenue lessened its stake in Packaging Co. of America (NYSE:PKG - Free Report) by 39.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 10,168 shares of the industrial products company's stock after selling 6,578 shares during the period. State of Alaska Department of Revenue's holdings in Packaging Co. of America were worth $2,289,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in PKG. Sanctuary Advisors LLC raised its position in Packaging Co. of America by 17.0% in the third quarter. Sanctuary Advisors LLC now owns 20,270 shares of the industrial products company's stock worth $4,366,000 after purchasing an additional 2,946 shares in the last quarter. GAMMA Investing LLC raised its position in Packaging Co. of America by 24.2% in the fourth quarter. GAMMA Investing LLC now owns 2,431 shares of the industrial products company's stock worth $547,000 after purchasing an additional 473 shares in the last quarter. Principal Financial Group Inc. raised 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 worth $99,194,000 after purchasing an additional 35,614 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its holdings in shares of Packaging Co. of America by 227.5% during 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 buying an additional 22,397 shares in the last quarter. Finally, Citigroup Inc. increased its holdings in shares of Packaging Co. of America by 30.7% during 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 in the last quarter. Institutional investors own 89.78% of the company's stock.

Insider Buying and Selling at Packaging Co. of America

In other Packaging Co. of America news, SVP Joseph Vaughn sold 2,300 shares of the firm's stock in a transaction that occurred 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 transaction, the senior vice president now directly owns 9,197 shares of the company's stock, valued at approximately $2,252,253.33. This trade represents a 20.01 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Paul T. Stecko sold 10,500 shares of Packaging Co. of America stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $244.91, for a total transaction 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 ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.60% of the company's stock.

Wall Street Analysts Forecast Growth

PKG has been the subject of several recent analyst reports. Truist Financial reaffirmed a "buy" rating and set a $265.00 price objective (down previously from $282.00) on shares of Packaging Co. of America in a report on Thursday, January 30th. Jefferies Financial Group raised shares of Packaging Co. of America from a "hold" rating to a "buy" rating and raised their price objective for the stock from $215.00 to $280.00 in a report on Wednesday, December 18th. Wells Fargo & Company dropped their price objective on shares of 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. Citigroup raised their price objective on shares of Packaging Co. of America from $232.00 to $235.00 and gave the stock a "neutral" rating in a report on Monday, January 6th. Finally, StockNews.com lowered shares of Packaging Co. of America from a "buy" rating to a "hold" rating in a report on Wednesday, January 29th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $233.00.

Packaging Co. of America Price Performance

Shares of Packaging Co. of America stock traded up $0.39 during midday trading on Friday, reaching $212.54. The company had a trading volume of 806,333 shares, compared to its average volume of 959,478. The company has a current ratio of 2.95, a quick ratio of 1.98 and a debt-to-equity ratio of 0.58. The company has a market capitalization of $19.09 billion, a price-to-earnings ratio of 23.80, a price-to-earnings-growth ratio of 2.40 and a beta of 0.77. The stock has a fifty day simple moving average of $226.87 and a 200 day simple moving average of $221.33. Packaging Co. of America has a 1-year low of $165.20 and a 1-year high of $250.82.

Packaging Co. of America (NYSE:PKG - Get Free Report) last issued its quarterly 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 net margin of 9.60% and a return on equity of 19.67%. As a group, equities research analysts forecast that Packaging Co. of America will post 10.6 earnings per share for the current year.

Packaging Co. of America Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Friday, December 20th were paid a $1.25 dividend. The ex-dividend date was Friday, December 20th. This represents a $5.00 dividend on an annualized basis and a yield of 2.35%. Packaging Co. of America's payout ratio is presently 55.99%.

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.