Packaging Co. of America (NYSE:PKG) Shares Acquired by Catalina Capital Group LLC

Catalina Capital Group LLC boosted its holdings in Packaging Co. of America (NYSE:PKG) by 13.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,336 shares of the industrial products company’s stock after acquiring an additional 162 shares during the period. Catalina Capital Group LLC’s holdings in Packaging Co. of America were worth $301,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Larson Financial Group LLC raised its position in shares of Packaging Co. of America by 234.7% during the 3rd quarter. Larson Financial Group LLC now owns 164 shares of the industrial products company’s stock worth $35,000 after purchasing an additional 115 shares during the period. Fortitude Family Office LLC increased its position in Packaging Co. of America by 150.8% in the fourth quarter. Fortitude Family Office LLC now owns 163 shares of the industrial products company’s stock worth $37,000 after buying an additional 98 shares during the period. Assetmark Inc. lifted its stake in Packaging Co. of America by 44.6% in 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 last quarter. Brooklyn Investment Group acquired a new position in shares of Packaging Co. of America during the third quarter valued at $64,000. Finally, Allworth Financial LP grew its position 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 worth $67,000 after acquiring an additional 123 shares during the last quarter. Institutional investors own 89.78% of the company’s stock.

Packaging Co. of America Stock Down 0.6 %

PKG opened at $211.43 on Tuesday. 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 company has a market capitalization of $18.99 billion, a PE ratio of 23.68, a P/E/G ratio of 2.29 and a beta of 0.79. The stock’s fifty day moving average is $233.29 and its 200-day moving average is $220.74. Packaging Co. of America has a one year low of $159.57 and a one year high of $250.82.

Packaging Co. of America (NYSE:PKG) last issued its quarterly earnings results on Tuesday, January 28th. The industrial products company reported $2.47 EPS for the quarter, missing the consensus estimate 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%. On average, equities analysts predict that Packaging Co. of America will post 11.15 EPS for the current fiscal year.

Packaging Co. of America Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Friday, December 20th were paid a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a yield of 2.36%. The ex-dividend date was Friday, December 20th. Packaging Co. of America’s dividend payout ratio is presently 55.99%.

Insider Buying and Selling

In other news, SVP Donald R. Shirley sold 8,000 shares of the company’s stock in a transaction on Tuesday, November 12th. The stock was 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 directly owns 15,725 shares of the company’s stock, valued at $3,777,145. This represents a 33.72 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Robert P. Mundy sold 12,500 shares of Packaging Co. of America stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $240.62, for a total value of $3,007,750.00. Following the completion of the transaction, the chief financial officer now directly owns 43,954 shares in the company, valued at $10,576,211.48. This represents a 22.14 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 33,300 shares of company stock worth $8,064,152. Corporate insiders own 1.60% of the company’s stock.

Analysts Set New Price Targets

PKG has been the topic of several recent research reports. Jefferies Financial Group upgraded shares of Packaging Co. of America from a “hold” rating to a “buy” rating and lifted their price objective for the company from $215.00 to $280.00 in a research report on Wednesday, December 18th. 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 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. Truist Financial reiterated 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. Finally, Citigroup raised their price target 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. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Packaging Co. of America has an average rating of “Moderate Buy” and a consensus price target of $233.00.

About Packaging Co. of America

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.