Buck Wealth Strategies LLC Purchases 1,427 Shares of Packaging Co. of America (NYSE:PKG)

Buck Wealth Strategies LLC increased its position in Packaging Co. of America (NYSE:PKG) by 59.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,818 shares of the industrial products company’s stock after acquiring an additional 1,427 shares during the period. Buck Wealth Strategies LLC’s holdings in Packaging Co. of America were worth $860,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Sanctuary Advisors LLC boosted its position in 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 purchasing an additional 2,946 shares during the last quarter. Principal Financial Group Inc. lifted its stake in shares of Packaging Co. of America by 8.4% in the 3rd quarter. Principal Financial Group Inc. now owns 460,518 shares of the industrial products company’s stock worth $99,194,000 after purchasing an additional 35,614 shares during the period. GAMMA Investing LLC boosted its holdings 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 worth $547,000 after buying an additional 473 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its position in 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 buying an additional 22,397 shares during the period. Finally, Citigroup Inc. increased its holdings in 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 valued at $24,772,000 after buying an additional 27,018 shares during the last quarter. Hedge funds and other institutional investors own 89.78% of the company’s stock.

Insider Activity at Packaging Co. of America

In other Packaging Co. of America news, CFO Robert P. Mundy sold 12,500 shares of the business’s stock in a transaction on 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 transaction, the chief financial officer now owns 43,954 shares in the company, valued at $10,576,211.48. The trade was a 22.14 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Joseph Vaughn sold 2,300 shares of the firm’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $244.89, for a total transaction of $563,247.00. Following the completion of the sale, the senior vice president now owns 9,197 shares of the company’s stock, valued at $2,252,253.33. This trade represents a 20.01 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 33,300 shares of company stock valued at $8,064,152 over the last 90 days. 1.70% of the stock is owned by corporate insiders.

Packaging Co. of America Stock Down 0.2 %

PKG opened at $210.20 on Thursday. The company has a market capitalization of $18.88 billion, a PE ratio of 23.54, a price-to-earnings-growth ratio of 2.29 and a beta of 0.77. The firm has a 50-day simple moving average of $231.80 and a two-hundred day simple moving average of $220.80. The company has a quick ratio of 1.98, a current ratio of 2.95 and a debt-to-equity ratio of 0.58. Packaging Co. of America has a 52 week low of $161.55 and a 52 week high of $250.82.

Packaging Co. of America (NYSE:PKG) last announced its quarterly earnings results on Tuesday, January 28th. The industrial products company reported $2.47 EPS for the quarter, missing analysts’ consensus estimates of $2.51 by ($0.04). Packaging Co. of America had a net margin of 9.60% and a return on equity of 19.67%. Analysts forecast that Packaging Co. of America will post 11.15 earnings per share for the current fiscal year.

Packaging Co. of America Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Friday, December 20th were given a $1.25 dividend. This represents a $5.00 annualized dividend and a yield of 2.38%. The ex-dividend date was Friday, December 20th. Packaging Co. of America’s dividend payout ratio is presently 55.99%.

Analyst Upgrades and Downgrades

PKG has been the topic of several analyst reports. StockNews.com downgraded shares of Packaging Co. of America from a “buy” rating to a “hold” rating in a research report on Wednesday, January 29th. Truist Financial reissued a “buy” rating and set a $265.00 price target (down previously from $282.00) on shares of Packaging Co. of America in a report on Thursday, January 30th. Jefferies Financial Group raised Packaging Co. of America from a “hold” rating to a “buy” rating and raised their price objective for the stock from $215.00 to $280.00 in a research note on Wednesday, December 18th. Citigroup boosted their price objective 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. Finally, Wells Fargo & Company decreased their target price on shares of Packaging Co. of America from $253.00 to $236.00 and set an “overweight” rating on the stock in a research note on Thursday, January 30th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, Packaging Co. of America has an average rating of “Moderate Buy” and an average 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.