Strategic Financial Concepts LLC Acquires Shares of 30,943 Packaging Co. of America (NYSE:PKG)

Strategic Financial Concepts LLC acquired a new position in shares of Packaging Co. of America (NYSE:PKG - Free Report) in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 30,943 shares of the industrial products company's stock, valued at approximately $6,966,000.

Other hedge funds also recently added to or reduced their stakes in the company. State Street Corp boosted its stake in shares of Packaging Co. of America by 3.2% in the third quarter. State Street Corp now owns 3,948,546 shares of the industrial products company's stock worth $855,212,000 after buying an additional 123,050 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Packaging Co. of America by 3.5% in the third 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 last quarter. Geode Capital Management LLC increased its holdings in shares of Packaging Co. of America by 0.6% in the third quarter. Geode Capital Management LLC now owns 2,337,296 shares of the industrial products company's stock valued at $501,896,000 after purchasing an additional 12,936 shares during the last quarter. FMR LLC increased its stake in Packaging Co. of America by 3.4% during the third quarter. FMR LLC now owns 1,076,350 shares of the industrial products company's stock worth $231,846,000 after acquiring an additional 35,827 shares during the last quarter. Finally, Stifel Financial Corp increased its stake in Packaging Co. of America by 1,462.2% during 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 during the last quarter. 89.78% of the stock is owned by institutional investors and hedge funds.

Packaging Co. of America Stock Down 1.8 %

Shares of PKG stock traded down $3.75 on Wednesday, hitting $204.50. The company's stock had a trading volume of 952,880 shares, compared to its average volume of 944,692. The stock has a market capitalization of $18.37 billion, a price-to-earnings ratio of 22.90, a P/E/G ratio of 2.40 and a beta of 0.77. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.95 and a quick ratio of 1.98. Packaging Co. of America has a fifty-two week low of $163.68 and a fifty-two week high of $250.82. The firm's fifty day moving average price is $228.91 and its 200-day moving average price is $221.42.

Packaging Co. of America (NYSE:PKG - Get Free Report) last posted 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 net margin of 9.60% and a return on equity of 19.67%. Research analysts anticipate that Packaging Co. of America will post 10.6 EPS for the current year.

Packaging Co. of America Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Friday, December 20th were issued a dividend of $1.25 per share. 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 2.44%. Packaging Co. of America's payout ratio is 55.99%.

Analysts Set New Price Targets

PKG has been the subject of several research analyst reports. Truist Financial restated a "buy" rating and set a $265.00 price target (down from $282.00) on shares of Packaging Co. of America in a research report on Thursday, January 30th. StockNews.com cut Packaging Co. of America from a "buy" rating to a "hold" rating in a research report on Wednesday, January 29th. Citigroup boosted their target price 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 reduced their price objective on Packaging Co. of America from $253.00 to $236.00 and set an "overweight" rating for the company in a research note on Thursday, January 30th. Finally, Jefferies Financial Group raised Packaging Co. of America from a "hold" rating to a "buy" rating and increased their target price for the stock from $215.00 to $280.00 in a research note on Wednesday, December 18th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, Packaging Co. of America has an average rating of "Moderate Buy" and a consensus target price of $233.00.

Insider Buying and Selling

In other Packaging Co. of America news, SVP Joseph Vaughn sold 2,300 shares of Packaging Co. of America 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 completion of the sale, 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 Securities & Exchange Commission, which is available through the SEC website. Also, Director Paul T. Stecko sold 10,500 shares of the business's stock in a transaction that occurred on 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 completion of the transaction, the director now owns 8,881 shares of the company's stock, valued at $2,175,045.71. The trade was a 54.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.60% of the stock is currently owned by company insiders.

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.