Wellington Management Group LLP Purchases 2,786 Shares of Packaging Co. of America (NYSE:PKG)

Wellington Management Group LLP increased its position in shares of Packaging Co. of America (NYSE:PKG - Free Report) by 30.0% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 12,070 shares of the industrial products company's stock after buying an additional 2,786 shares during the period. Wellington Management Group LLP's holdings in Packaging Co. of America were worth $2,600,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of the company. Raymond James & Associates increased its position in shares of Packaging Co. of America by 7.8% during the second quarter. Raymond James & Associates now owns 195,171 shares of the industrial products company's stock worth $35,630,000 after acquiring an additional 14,112 shares in the last quarter. Nisa Investment Advisors LLC raised its stake in shares of Packaging Co. of America by 8.0% in the second quarter. Nisa Investment Advisors LLC now owns 16,113 shares of the industrial products company's stock worth $2,962,000 after purchasing an additional 1,200 shares during the last quarter. American National Bank lifted its holdings in shares of Packaging Co. of America by 116.4% in the second quarter. American National Bank now owns 606 shares of the industrial products company's stock valued at $111,000 after purchasing an additional 326 shares in the last quarter. Banque Pictet & Cie SA boosted its position in shares of Packaging Co. of America by 8.9% during the second quarter. Banque Pictet & Cie SA now owns 54,535 shares of the industrial products company's stock valued at $9,956,000 after buying an additional 4,457 shares during the last quarter. Finally, Fullcircle Wealth LLC bought a new stake in Packaging Co. of America during the second quarter worth $548,000. Institutional investors own 89.78% of the company's stock.

Insider Activity

In other Packaging Co. of America news, SVP Donald R. Shirley sold 8,000 shares of the company's stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $240.20, for a total value of $1,921,600.00. Following the transaction, the senior vice president now directly owns 15,725 shares in the company, valued at $3,777,145. This represents a 33.72 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Joseph Vaughn sold 2,300 shares of the firm's 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 directly owns 9,197 shares in the company, valued at approximately $2,252,253.33. The trade was a 20.01 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 33,300 shares of company stock worth $8,064,152 over the last ninety days. Company insiders own 1.60% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on PKG shares. Citigroup boosted their price target on shares of Packaging Co. of America from $199.00 to $221.00 and gave the stock a "neutral" rating in a report on Wednesday, October 2nd. Truist Financial reaffirmed a "buy" rating and issued a $252.00 target price (up from $242.00) on shares of Packaging Co. of America in a report on Thursday, October 24th. Wells Fargo & Company boosted their price objective on Packaging Co. of America from $235.00 to $253.00 and gave the stock an "overweight" rating in a research report on Thursday, October 24th. StockNews.com raised shares of Packaging Co. of America from a "hold" rating to a "buy" rating in a report on Saturday. Finally, Jefferies Financial Group raised shares of 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 report on Wednesday. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, Packaging Co. of America presently has an average rating of "Moderate Buy" and an average price target of $231.33.

Packaging Co. of America Stock Performance

NYSE PKG traded down $3.33 during trading on Wednesday, hitting $229.22. 990,864 shares of the company's stock traded hands, compared to its average volume of 604,645. The stock has a market capitalization of $20.59 billion, a price-to-earnings ratio of 26.72, a PEG ratio of 3.34 and a beta of 0.77. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.98 and a current ratio of 2.95. The business has a 50 day moving average of $234.70 and a 200-day moving average of $210.02. 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 released its quarterly earnings data on Tuesday, October 22nd. The industrial products company reported $2.65 earnings per share for the quarter, beating analysts' consensus estimates of $2.50 by $0.15. The business had revenue of $2.18 billion during the quarter, compared to analyst estimates of $2.09 billion. Packaging Co. of America had a net margin of 9.46% and a return on equity of 19.10%. Packaging Co. of America's revenue was up 14.9% compared to the same quarter last year. During the same period in the previous year, the business earned $2.05 EPS. As a group, equities research analysts anticipate that Packaging Co. of America will post 9.07 earnings per share for the current fiscal year.

Packaging Co. of America Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Friday, December 20th will be issued a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a yield of 2.18%. The ex-dividend date of this dividend is Friday, December 20th. Packaging Co. of America's payout ratio is presently 58.28%.

About Packaging Co. of America

Packaging Corporation of America manufactures and sells containerboard and corrugated packaging products in the United States. The company operates through three segments: Packaging, Paper, and Corporate and Other. The Packaging segment offers various containerboard and corrugated packaging products, such as conventional shipping containers used to protect and transport manufactured goods; multi-color boxes and displays that help to merchandise the packaged product in retail locations; and honeycomb protective packaging products, as well as packaging for meat, fresh fruit and vegetables, processed food, beverages, and other industrial and consumer products.