Versor Investments LP Acquires Shares of 7,200 Packaging Co. of America (NYSE:PKG)

Versor Investments LP bought a new position in shares of Packaging Co. of America (NYSE:PKG) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 7,200 shares of the industrial products company’s stock, valued at approximately $1,621,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in PKG. State Street Corp lifted its position in Packaging Co. of America by 3.2% during the 3rd quarter. State Street Corp now owns 3,948,546 shares of the industrial products company’s stock worth $855,212,000 after acquiring an additional 123,050 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of Packaging Co. of America by 3.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,937,113 shares of the industrial products company’s stock worth $632,654,000 after purchasing an additional 98,223 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Packaging Co. of America by 0.6% during the third quarter. Geode Capital Management LLC now owns 2,337,296 shares of the industrial products company’s stock worth $501,896,000 after purchasing an additional 12,936 shares during the period. FMR LLC grew its position in Packaging Co. of America by 3.4% in the 3rd quarter. FMR LLC now owns 1,076,350 shares of the industrial products company’s stock valued at $231,846,000 after buying an additional 35,827 shares during the last quarter. Finally, Stifel Financial Corp grew its position in Packaging Co. of America by 1,462.2% in the 3rd quarter. Stifel Financial Corp now owns 573,073 shares of the industrial products company’s stock valued at $123,440,000 after buying an additional 536,389 shares during the last quarter. Hedge funds and other institutional investors own 89.78% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on PKG. Citigroup upped their price objective on shares of Packaging Co. of America from $232.00 to $235.00 and gave the stock a “neutral” rating in a research report on Monday, January 6th. StockNews.com raised shares of Packaging Co. of America from a “hold” rating to a “buy” rating in a report on Wednesday. Truist Financial reaffirmed a “buy” rating and issued a $265.00 price objective (down previously from $282.00) on shares of Packaging Co. of America in a report on Thursday, January 30th. Wells Fargo & Company dropped their target price on Packaging Co. of America from $253.00 to $236.00 and set an “overweight” rating on the stock in a research report on Thursday, January 30th. Finally, Seaport Res Ptn raised Packaging Co. of America from a “hold” rating to a “strong-buy” rating in a report on Thursday, February 13th. Two equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Packaging Co. of America presently has an average rating of “Moderate Buy” and an average price target of $233.00.

Packaging Co. of America Price Performance

Shares of NYSE:PKG opened at $212.86 on Thursday. The firm has a market capitalization of $19.12 billion, a price-to-earnings ratio of 23.84, a price-to-earnings-growth ratio of 2.41 and a beta of 0.77. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.95 and a quick ratio of 1.98. The business’s 50 day simple moving average is $222.82 and its 200-day simple moving average is $222.36. Packaging Co. of America has a 12 month low of $169.00 and a 12 month high of $250.82.

Packaging Co. of America (NYSE:PKG) last posted its 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 return on equity of 19.67% and a net margin of 9.60%. As a group, equities analysts forecast that Packaging Co. of America will post 10.44 earnings per share for the current fiscal year.

Packaging Co. of America Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Friday, March 14th will be paid a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a yield of 2.35%. Packaging Co. of America’s payout ratio is 55.99%.

Insider Buying and Selling at Packaging Co. of America

In other news, SVP Joseph Vaughn sold 2,300 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $244.89, for a total value of $563,247.00. Following the sale, the senior vice president now directly owns 9,197 shares in the company, valued at $2,252,253.33. This represents a 20.01 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.70% of the stock is currently owned by insiders.

Packaging Co. of America Company 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.