Bayesian Capital Management LP Acquires Shares of 9,434 Packaging Co. of America (NYSE:PKG)

Bayesian Capital Management LP acquired a new stake in Packaging Co. of America (NYSE:PKG) during the first quarter, HoldingsChannel reports. The firm acquired 9,434 shares of the industrial products company’s stock, valued at approximately $1,790,000.

Other institutional investors also recently bought and sold shares of the company. Register Financial Advisors LLC acquired a new position in Packaging Co. of America in the first quarter valued at $25,000. Neo Ivy Capital Management acquired a new position in shares of Packaging Co. of America during the fourth quarter worth about $28,000. First Horizon Advisors Inc. increased its stake in shares of Packaging Co. of America by 60.5% during the fourth quarter. First Horizon Advisors Inc. now owns 183 shares of the industrial products company’s stock worth $30,000 after acquiring an additional 69 shares during the period. Gables Capital Management Inc. acquired a new position in shares of Packaging Co. of America during the fourth quarter worth about $31,000. Finally, Headlands Technologies LLC purchased a new stake in Packaging Co. of America during the first quarter worth about $43,000. 89.78% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Packaging Co. of America

In other news, Director Karen E. Gowland acquired 300 shares of Packaging Co. of America stock in a transaction that occurred on Wednesday, May 15th. The shares were acquired at an average price of $182.06 per share, with a total value of $54,618.00. Following the completion of the purchase, the director now owns 916 shares of the company’s stock, valued at approximately $166,766.96. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, EVP Charles J. Carter sold 5,389 shares of the company’s stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $196.28, for a total transaction of $1,057,752.92. Following the completion of the transaction, the executive vice president now owns 25,539 shares of the company’s stock, valued at $5,012,794.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Karen E. Gowland purchased 300 shares of the company’s stock in a transaction that occurred on Wednesday, May 15th. The shares were bought at an average cost of $182.06 per share, with a total value of $54,618.00. Following the transaction, the director now directly owns 916 shares of the company’s stock, valued at approximately $166,766.96. The disclosure for this purchase can be found here. Insiders own 1.60% of the company’s stock.

Packaging Co. of America Price Performance

Shares of NYSE PKG traded down $0.59 on Tuesday, hitting $197.81. The company’s stock had a trading volume of 201,310 shares, compared to its average volume of 626,398. Packaging Co. of America has a 12-month low of $143.82 and a 12-month high of $199.88. The company has a market capitalization of $17.76 billion, a price-to-earnings ratio of 24.80, a price-to-earnings-growth ratio of 5.20 and a beta of 0.77. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.46 and a quick ratio of 1.74. The stock has a 50 day moving average of $184.95 and a 200-day moving average of $179.75.

Packaging Co. of America (NYSE:PKG) last announced its quarterly earnings results on Tuesday, July 23rd. The industrial products company reported $2.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.14 by $0.06. The company had revenue of $2.08 billion for the quarter, compared to the consensus estimate of $2.02 billion. Packaging Co. of America had a net margin of 9.06% and a return on equity of 18.39%. The company’s revenue for the quarter was up 6.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.31 earnings per share. As a group, research analysts predict that Packaging Co. of America will post 8.62 EPS for the current year.

Packaging Co. of America Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Friday, June 14th were paid a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a dividend yield of 2.53%. The ex-dividend date of this dividend was Friday, June 14th. Packaging Co. of America’s payout ratio is 62.50%.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. StockNews.com raised shares of Packaging Co. of America from a “hold” rating to a “buy” rating in a report on Wednesday, July 24th. Truist Financial boosted their price objective on shares of Packaging Co. of America from $215.00 to $219.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. Citigroup boosted their price objective on shares of Packaging Co. of America from $181.00 to $187.00 and gave the stock a “neutral” rating in a report on Monday, July 8th. Bank of America boosted their price objective on shares of Packaging Co. of America from $197.00 to $200.00 and gave the stock a “buy” rating in a report on Monday, June 17th. Finally, Wells Fargo & Company boosted their price objective on shares of Packaging Co. of America from $194.00 to $215.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, Packaging Co. of America currently has an average rating of “Moderate Buy” and a consensus target price of $190.50.

Packaging Co. of America 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.