Quest Partners LLC Increases Stock Holdings in Packaging Co. of America (NYSE:PKG)

Quest Partners LLC boosted its stake in shares of Packaging Co. of America (NYSE:PKG) by 256.3% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 7,729 shares of the industrial products company’s stock after buying an additional 5,560 shares during the quarter. Quest Partners LLC’s holdings in Packaging Co. of America were worth $1,665,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Central Pacific Bank Trust Division purchased a new stake in shares of Packaging Co. of America in the third quarter valued at $32,000. Asset Dedication LLC raised its position in Packaging Co. of America by 200.0% in the 2nd quarter. Asset Dedication LLC now owns 168 shares of the industrial products company’s stock worth $31,000 after purchasing an additional 112 shares during the period. Tortoise Investment Management LLC bought a new stake in Packaging Co. of America in the second quarter worth about $33,000. Assetmark Inc. boosted its position in shares of Packaging Co. of America by 44.6% during the third quarter. Assetmark Inc. now owns 269 shares of the industrial products company’s stock valued at $58,000 after buying an additional 83 shares during the period. Finally, Allworth Financial LP grew its stake in shares of Packaging Co. of America by 65.1% during the third quarter. Allworth Financial LP now owns 312 shares of the industrial products company’s stock valued at $67,000 after buying an additional 123 shares during the last quarter. 89.78% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Packaging Co. of America news, CFO Robert P. Mundy sold 12,500 shares of the stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $240.62, for a total transaction of $3,007,750.00. Following the completion of the sale, the chief financial officer now directly owns 43,954 shares of the company’s stock, valued at approximately $10,576,211.48. This represents a 22.14 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Donald R. Shirley sold 8,000 shares of the firm’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $240.20, for a total transaction of $1,921,600.00. Following the completion of the sale, the senior vice president now owns 15,725 shares in the company, valued at $3,777,145. This represents a 33.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.70% of the stock is owned by company insiders.

Packaging Co. of America Price Performance

PKG opened at $238.11 on Tuesday. The company has a market capitalization of $21.38 billion, a price-to-earnings ratio of 27.75, a PEG ratio of 3.31 and a beta of 0.76. 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 $148.50 and a 12-month high of $245.00. The business’s fifty day simple moving average is $221.90 and its 200-day simple moving average is $200.74.

Packaging Co. of America (NYSE:PKG) last issued its earnings results on Tuesday, October 22nd. The industrial products company reported $2.65 earnings per share (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 company had revenue of $2.18 billion for the quarter, compared to analysts’ expectations of $2.09 billion. During the same period in the prior year, the business earned $2.05 EPS. The firm’s quarterly revenue was up 14.9% on a year-over-year basis. On average, 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 firm also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Tuesday, October 15th were paid a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a yield of 2.10%. The ex-dividend date of this dividend was Monday, September 16th. Packaging Co. of America’s dividend payout ratio (DPR) is 58.28%.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on PKG shares. Wells Fargo & Company raised their price target on Packaging Co. of America from $235.00 to $253.00 and gave the stock an “overweight” rating in a research note on Thursday, October 24th. Citigroup lifted their target price on Packaging Co. of America from $199.00 to $221.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 2nd. StockNews.com upgraded shares of Packaging Co. of America from a “hold” rating to a “buy” rating in a report on Tuesday, November 12th. Finally, Truist Financial reaffirmed a “buy” rating and issued a $252.00 price target (up previously from $242.00) on shares of Packaging Co. of America in a research note on Thursday, October 24th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $221.60.

Packaging Co. of America Company Profile

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.