Proficio Capital Partners LLC Invests $25.29 Million in Packaging Co. of America (NYSE:PKG)

Proficio Capital Partners LLC bought a new position in shares of Packaging Co. of America (NYSE:PKG) in the 4th quarter, according to its most recent 13F filing with the SEC. The fund bought 112,340 shares of the industrial products company’s stock, valued at approximately $25,291,000. Proficio Capital Partners LLC owned 0.13% of Packaging Co. of America at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of PKG. Stifel Financial Corp grew its position in shares of Packaging Co. of America by 1,462.2% in the 3rd quarter. Stifel Financial Corp now owns 573,073 shares of the industrial products company’s stock valued at $123,440,000 after purchasing an additional 536,389 shares during the period. Conning Inc. acquired a new position in shares of Packaging Co. of America in the 4th quarter valued at approximately $32,329,000. Two Sigma Advisers LP grew its position in shares of Packaging Co. of America by 218.1% in the 3rd quarter. Two Sigma Advisers LP now owns 207,700 shares of the industrial products company’s stock valued at $44,739,000 after purchasing an additional 142,400 shares during the period. Mizuho Securities USA LLC grew its position in shares of Packaging Co. of America by 1,800.2% in the 3rd quarter. Mizuho Securities USA LLC now owns 130,583 shares of the industrial products company’s stock valued at $28,128,000 after purchasing an additional 123,711 shares during the period. Finally, State Street Corp grew its position in shares of Packaging Co. of America by 3.2% in the 3rd quarter. State Street Corp now owns 3,948,546 shares of the industrial products company’s stock valued at $855,212,000 after purchasing an additional 123,050 shares during the period. 89.78% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Packaging Co. of America

In other news, SVP Joseph Vaughn sold 2,300 shares of the company’s stock in a transaction that occurred 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 sale, the senior vice president now owns 9,197 shares in the company, valued at $2,252,253.33. This represents a 20.01 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 1.60% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. StockNews.com upgraded Packaging Co. of America from a “hold” rating to a “buy” rating in a research report on Wednesday. Jefferies Financial Group upgraded Packaging Co. of America from a “hold” rating to a “buy” rating and boosted their price objective for the company from $215.00 to $280.00 in a research report on Wednesday, December 18th. Truist Financial reiterated a “buy” rating and issued a $265.00 price objective (down from $282.00) on shares of Packaging Co. of America in a research report on Thursday, January 30th. Wells Fargo & Company decreased 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 report on Thursday, January 30th. Finally, 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 research note on Monday, January 6th. Two investment analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $233.00.

Packaging Co. of America Trading Up 1.1 %

NYSE PKG opened at $213.08 on Friday. The stock has a market capitalization of $19.14 billion, a price-to-earnings ratio of 23.86, a PEG ratio of 2.41 and a beta of 0.77. The stock’s 50 day moving average price is $222.19 and its two-hundred day moving average price is $222.41. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.98 and a current ratio of 2.95. Packaging Co. of America has a 52 week low of $169.00 and a 52 week high of $250.82.

Packaging Co. of America (NYSE:PKG) last announced its quarterly earnings data on Tuesday, January 28th. The industrial products company reported $2.47 earnings per share (EPS) 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%. As a group, analysts anticipate that Packaging Co. of America will post 10.44 earnings per share for the current fiscal year.

Packaging Co. of America Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Friday, March 14th will be paid a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.35%. The ex-dividend date is Friday, March 14th. Packaging Co. of America’s dividend payout ratio is currently 55.99%.

Packaging Co. of America 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.