Savant Capital LLC raised its holdings in shares of Packaging Co. of America (NYSE:PKG – Free Report) by 2.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,221 shares of the industrial products company’s stock after buying an additional 200 shares during the period. Savant Capital LLC’s holdings in Packaging Co. of America were worth $2,301,000 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 PKG. Sanctuary Advisors LLC increased its stake in shares of Packaging Co. of America by 17.0% in the third quarter. Sanctuary Advisors LLC now owns 20,270 shares of the industrial products company’s stock worth $4,366,000 after buying an additional 2,946 shares during the period. GAMMA Investing LLC increased its position in shares of Packaging Co. of America by 24.2% in the fourth quarter. GAMMA Investing LLC now owns 2,431 shares of the industrial products company’s stock valued at $547,000 after acquiring an additional 473 shares during the period. Principal Financial Group Inc. increased its position in shares of Packaging Co. of America by 8.4% in the third quarter. Principal Financial Group Inc. now owns 460,518 shares of the industrial products company’s stock valued at $99,194,000 after acquiring an additional 35,614 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its stake in shares of Packaging Co. of America by 227.5% during the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 32,243 shares of the industrial products company’s stock valued at $6,945,000 after acquiring an additional 22,397 shares during the last quarter. Finally, Citigroup Inc. boosted its holdings in shares of Packaging Co. of America by 30.7% during the third quarter. Citigroup Inc. now owns 115,005 shares of the industrial products company’s stock worth $24,772,000 after purchasing an additional 27,018 shares during the period. 89.78% of the stock is owned by institutional investors.
Packaging Co. of America Price Performance
PKG opened at $204.50 on Thursday. The company has a current ratio of 2.95, a quick ratio of 1.98 and a debt-to-equity ratio of 0.58. The company has a market cap of $18.37 billion, a price-to-earnings ratio of 22.90, a price-to-earnings-growth ratio of 2.40 and a beta of 0.77. The stock has a fifty day simple moving average of $228.12 and a two-hundred day simple moving average of $221.30. Packaging Co. of America has a 12-month low of $163.68 and a 12-month high of $250.82.
Packaging Co. of America Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Friday, December 20th were issued a dividend of $1.25 per share. The ex-dividend date was Friday, December 20th. This represents a $5.00 annualized dividend and a dividend yield of 2.44%. Packaging Co. of America’s payout ratio is 55.99%.
Analyst Ratings Changes
A number of research analysts have commented on PKG shares. Truist Financial reaffirmed a “buy” rating and set a $265.00 price target (down previously from $282.00) on shares of Packaging Co. of America in a research report on Thursday, January 30th. Wells Fargo & Company decreased their target price on Packaging Co. of America from $253.00 to $236.00 and set an “overweight” rating for the company in a report on Thursday, January 30th. Jefferies Financial Group upgraded shares of Packaging Co. of America from a “hold” rating to a “buy” rating and lifted their price target for the company from $215.00 to $280.00 in a report on Wednesday, December 18th. Citigroup boosted their price objective on shares of Packaging Co. of America from $232.00 to $235.00 and gave the company a “neutral” rating in a research report on Monday, January 6th. Finally, StockNews.com cut shares of Packaging Co. of America from a “buy” rating to a “hold” rating in a research report on Wednesday, January 29th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $233.00.
Check Out Our Latest Stock Report on Packaging Co. of America
Insider Transactions at Packaging Co. of America
In other news, Director Paul T. Stecko sold 10,500 shares of the firm’s stock in a transaction on Thursday, November 21st. The stock was 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 directly owns 8,881 shares in the company, valued at $2,175,045.71. This trade represents a 54.18 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Joseph Vaughn sold 2,300 shares of Packaging Co. of America stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $244.89, for a total value of $563,247.00. Following the completion of the transaction, the senior vice president now directly owns 9,197 shares of the company’s stock, valued at approximately $2,252,253.33. This represents a 20.01 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.60% of the company’s stock.
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.
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