Packaging Co. of America (NYSE:PKG) Stock Position Lifted by Axecap Investments LLC

Axecap Investments LLC raised its holdings in shares of Packaging Co. of America (NYSE:PKG - Free Report) by 8.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 20,690 shares of the industrial products company's stock after purchasing an additional 1,667 shares during the quarter. Packaging Co. of America makes up 3.5% of Axecap Investments LLC's holdings, making the stock its 2nd biggest position. Axecap Investments LLC's holdings in Packaging Co. of America were worth $4,658,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. Fortitude Family Office LLC boosted its stake in shares of Packaging Co. of America by 150.8% during the fourth quarter. Fortitude Family Office LLC now owns 163 shares of the industrial products company's stock valued at $37,000 after purchasing an additional 98 shares in the last quarter. Larson Financial Group LLC boosted its stake in shares of Packaging Co. of America by 234.7% during 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 in the last quarter. Golden State Wealth Management LLC acquired a new position in shares of Packaging Co. of America in the fourth quarter worth approximately $48,000. Assetmark Inc. lifted its stake in shares of Packaging Co. of America by 44.6% in the third quarter. Assetmark Inc. now owns 269 shares of the industrial products company's stock worth $58,000 after acquiring an additional 83 shares during the period. Finally, Brooklyn Investment Group acquired a new position in shares of Packaging Co. of America in the third quarter worth approximately $64,000. Institutional investors and hedge funds own 89.78% of the company's stock.

Insider Activity

In related news, SVP Joseph Vaughn sold 2,300 shares of the company's stock in a transaction 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 completion of the sale, the senior vice president now owns 9,197 shares in the company, valued at approximately $2,252,253.33. This represents a 20.01 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Paul T. Stecko sold 10,500 shares of the company's stock in a transaction 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 sale, the director now owns 8,881 shares of the company's stock, valued at $2,175,045.71. This trade represents a 54.18 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.60% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. 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 research note on Wednesday, December 18th. StockNews.com lowered Packaging Co. of America from a "buy" rating to a "hold" rating in a research note 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 on the stock in a research note on Thursday, January 30th. Citigroup lifted their price objective 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. Finally, Truist Financial reaffirmed a "buy" rating and issued a $265.00 price objective (down from $282.00) on shares of Packaging Co. of America in a research note on Thursday, January 30th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $233.00.

Packaging Co. of America Trading Up 0.2 %

PKG stock traded up $0.39 during mid-day trading on Friday, reaching $212.54. The company's stock had a trading volume of 806,333 shares, compared to its average volume of 959,478. The company has a market cap 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 business's 50 day moving average price is $226.87 and its 200 day moving average price is $221.33. The company has a current ratio of 2.95, a quick ratio of 1.98 and a debt-to-equity ratio of 0.58. Packaging Co. of America has a 12 month low of $165.20 and a 12 month high of $250.82.

Packaging Co. of America (NYSE:PKG - Get Free Report) last issued 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%. On average, equities research analysts predict that Packaging Co. of America will post 10.6 EPS for the current year.

Packaging Co. of America Dividend Announcement

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

Packaging Co. of America Company 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.