Park Avenue Securities LLC Acquires 3,143 Shares of Packaging Co. of America (NYSE:PKG)

Park Avenue Securities LLC raised its holdings in shares of Packaging Co. of America (NYSE:PKG - Free Report) by 76.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,273 shares of the industrial products company's stock after buying an additional 3,143 shares during the period. Park Avenue Securities LLC's holdings in Packaging Co. of America were worth $1,637,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Stifel Financial Corp increased its stake in shares of 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 buying an additional 536,389 shares during the period. Millennium Management LLC increased its position in shares of Packaging Co. of America by 34.3% in the second quarter. Millennium Management LLC now owns 1,027,585 shares of the industrial products company's stock valued at $187,596,000 after acquiring an additional 262,315 shares during the period. AQR Capital Management LLC raised its stake in shares of Packaging Co. of America by 164.3% during the second quarter. AQR Capital Management LLC now owns 401,360 shares of the industrial products company's stock valued at $73,272,000 after acquiring an additional 249,483 shares during the last quarter. International Assets Investment Management LLC raised its stake in shares of Packaging Co. of America by 41,151.7% during the third quarter. International Assets Investment Management LLC now owns 155,519 shares of the industrial products company's stock valued at $33,499,000 after acquiring an additional 155,142 shares during the last quarter. Finally, Two Sigma Advisers LP boosted its holdings in shares of Packaging Co. of America by 218.1% during the third quarter. Two Sigma Advisers LP now owns 207,700 shares of the industrial products company's stock worth $44,739,000 after purchasing an additional 142,400 shares during the period. 89.78% of the stock is owned by institutional investors.

Insider Activity at Packaging Co. of America

In related news, SVP Donald R. Shirley sold 8,000 shares of Packaging Co. of America stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $240.20, for a total transaction of $1,921,600.00. Following the transaction, the senior vice president now directly owns 15,725 shares in the company, valued at approximately $3,777,145. The trade was a 33.72 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Robert P. Mundy sold 12,500 shares of the firm's stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $240.62, for a total value of $3,007,750.00. Following the completion of the transaction, the chief financial officer now directly owns 43,954 shares in the company, valued at $10,576,211.48. This trade represents a 22.14 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 33,300 shares of company stock valued at $8,064,152 over the last ninety days. Insiders own 1.70% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on PKG shares. Citigroup boosted their price target on Packaging Co. of America from $232.00 to $235.00 and gave the company a "neutral" rating in a report on Monday, January 6th. Wells Fargo & Company boosted their target price on Packaging Co. of America from $235.00 to $253.00 and gave the company an "overweight" rating in a research note on Thursday, October 24th. Jefferies Financial Group raised Packaging Co. of America from a "hold" rating to a "buy" rating and raised their price target for the stock from $215.00 to $280.00 in a research note on Wednesday, December 18th. StockNews.com raised shares of Packaging Co. of America from a "hold" rating to a "buy" rating in a research report on Tuesday, December 24th. Finally, Truist Financial raised their target price on shares of Packaging Co. of America from $252.00 to $282.00 and gave the stock a "buy" rating in a research report on Monday, January 6th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $238.67.

Packaging Co. of America Stock Up 0.9 %

Shares of PKG stock traded up $2.20 during mid-day trading on Friday, reaching $237.52. 1,768,137 shares of the company's stock traded hands, compared to its average volume of 743,700. The company's 50-day moving average price is $235.69 and its 200-day moving average price is $216.89. The company has a market cap of $21.33 billion, a P/E ratio of 27.68, a P/E/G ratio of 2.24 and a beta of 0.79. 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 has a 12 month low of $159.57 and a 12 month high of $250.82.

Packaging Co. of America (NYSE:PKG - Get Free Report) last posted its quarterly earnings data on Tuesday, October 22nd. The industrial products company reported $2.65 EPS for the quarter, topping the consensus estimate of $2.50 by $0.15. Packaging Co. of America had a net margin of 9.46% and a return on equity of 19.10%. The business had revenue of $2.18 billion for the quarter, compared to analyst estimates of $2.09 billion. During the same quarter in the previous year, the firm posted $2.05 earnings per share. Packaging Co. of America's quarterly revenue was up 14.9% on a year-over-year basis. On average, equities analysts expect that Packaging Co. of America will post 9.08 earnings per share for the current fiscal year.

Packaging Co. of America Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Friday, December 20th were paid a dividend of $1.25 per share. The ex-dividend date of this dividend was Friday, December 20th. This represents a $5.00 annualized dividend and a yield of 2.11%. Packaging Co. of America's dividend payout ratio is 58.28%.

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.