Forsta AP Fonden Buys 200 Shares of Packaging Co. of America (NYSE:PKG)

Forsta AP Fonden raised its stake in Packaging Co. of America (NYSE:PKG) by 1.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 18,900 shares of the industrial products company’s stock after acquiring an additional 200 shares during the period. Forsta AP Fonden’s holdings in Packaging Co. of America were worth $4,255,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the stock. Robeco Institutional Asset Management B.V. increased its holdings in shares of Packaging Co. of America by 378.0% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 151,285 shares of the industrial products company’s stock worth $34,059,000 after buying an additional 119,636 shares in the last quarter. R Squared Ltd bought a new stake in Packaging Co. of America during the 4th quarter worth approximately $806,000. Gateway Wealth Partners LLC increased its holdings in Packaging Co. of America by 32.6% during the 4th quarter. Gateway Wealth Partners LLC now owns 1,525 shares of the industrial products company’s stock valued at $343,000 after purchasing an additional 375 shares in the last quarter. Perigon Wealth Management LLC raised its position in Packaging Co. of America by 17.1% in the 4th quarter. Perigon Wealth Management LLC now owns 1,408 shares of the industrial products company’s stock valued at $331,000 after purchasing an additional 206 shares during the last quarter. Finally, Blue Trust Inc. boosted its stake in Packaging Co. of America by 7.1% in the fourth quarter. Blue Trust Inc. now owns 4,605 shares of the industrial products company’s stock worth $992,000 after purchasing an additional 307 shares in the last quarter. 89.78% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Packaging Co. of America

In other Packaging Co. of America news, CFO Robert P. Mundy sold 12,500 shares of the 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 sale, 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 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 Donald R. Shirley sold 8,000 shares of Packaging Co. of America stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $240.20, for a total value of $1,921,600.00. Following the transaction, the senior vice president now owns 15,725 shares in the company, valued at $3,777,145. This trade represents a 33.72 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 33,300 shares of company stock worth $8,064,152 in the last ninety days. Company insiders own 1.60% of the company’s stock.

Packaging Co. of America Price Performance

PKG opened at $212.49 on Friday. The company has a fifty day moving average price of $234.01 and a two-hundred day moving average price of $220.40. The firm has a market capitalization of $19.08 billion, a PE ratio of 23.80, a P/E/G ratio of 2.12 and a beta of 0.79. Packaging Co. of America has a 52 week low of $159.57 and a 52 week high of $250.82. 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 (NYSE:PKG) last announced its quarterly earnings data 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 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 11.31 earnings per share for the current year.

Packaging Co. of America Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Friday, December 20th were paid a $1.25 dividend. The ex-dividend date of this dividend was Friday, December 20th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.35%. Packaging Co. of America’s dividend payout ratio (DPR) is presently 55.99%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. Jefferies Financial Group upgraded Packaging Co. of America from a “hold” rating to a “buy” rating and raised their target price for the company from $215.00 to $280.00 in a research note on Wednesday, December 18th. Wells Fargo & Company dropped their target price on shares of Packaging Co. of America from $253.00 to $236.00 and set an “overweight” rating for the company in a research note on Thursday. Truist Financial reissued a “buy” rating and set a $265.00 price target (down from $282.00) on shares of Packaging Co. of America in a research note on Thursday. StockNews.com cut shares of Packaging Co. of America from a “buy” rating to a “hold” rating in a research report on Wednesday. Finally, Citigroup increased their price objective on 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. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, Packaging Co. of America presently has an average rating of “Moderate Buy” and a consensus target price of $233.00.

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.