PGGM Investments Boosts Stock Position in Packaging Co. of America (NYSE:PKG)

PGGM Investments boosted its holdings in shares of Packaging Co. of America (NYSE:PKG) by 7.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 9,792 shares of the industrial products company’s stock after acquiring an additional 654 shares during the quarter. PGGM Investments’ holdings in Packaging Co. of America were worth $1,595,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of PKG. Annis Gardner Whiting Capital Advisors LLC purchased a new position in Packaging Co. of America during the 3rd quarter valued at $25,000. Anchor Investment Management LLC purchased a new position in Packaging Co. of America during the 4th quarter valued at $37,000. Fortis Group Advisors LLC purchased a new position in Packaging Co. of America during the 3rd quarter valued at $46,000. BKM Wealth Management LLC purchased a new position in Packaging Co. of America during the 4th quarter valued at $49,000. Finally, Orion Capital Management LLC purchased a new position in Packaging Co. of America during the 3rd quarter valued at $53,000. Hedge funds and other institutional investors own 89.78% of the company’s stock.

Packaging Co. of America Trading Up 0.9 %

PKG opened at $172.85 on Monday. The firm has a market cap of $15.51 billion, a price-to-earnings ratio of 21.61, a PEG ratio of 4.21 and a beta of 0.78. The company has a current ratio of 2.57, a quick ratio of 1.77 and a debt-to-equity ratio of 0.62. Packaging Co. of America has a 12 month low of $122.20 and a 12 month high of $191.27. The stock has a fifty day moving average price of $181.92 and a 200-day moving average price of $168.41.

Packaging Co. of America (NYSE:PKG) last released its quarterly earnings results on Tuesday, April 23rd. The industrial products company reported $1.72 EPS for the quarter, topping the consensus estimate of $1.63 by $0.09. The firm had revenue of $1.98 billion during the quarter, compared to analyst estimates of $1.91 billion. Packaging Co. of America had a return on equity of 18.94% and a net margin of 9.25%. The business’s revenue for the quarter was up .2% compared to the same quarter last year. During the same period in the previous year, the company posted $2.20 EPS. As a group, equities research analysts anticipate that Packaging Co. of America will post 8.2 earnings per share for the current fiscal year.

Packaging Co. of America Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 15th were given a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a yield of 2.89%. The ex-dividend date was Thursday, March 14th. Packaging Co. of America’s dividend payout ratio is currently 62.50%.

Wall Street Analyst Weigh In

PKG has been the subject of a number of recent analyst reports. Citigroup dropped their price objective on Packaging Co. of America from $183.00 to $181.00 and set a “neutral” rating for the company in a report on Thursday. Truist Financial lifted their target price on Packaging Co. of America from $170.00 to $187.00 and gave the company a “buy” rating in a research report on Thursday, January 4th. Bank of America raised Packaging Co. of America from a “neutral” rating to a “buy” rating and lifted their target price for the company from $172.00 to $202.00 in a research report on Monday, March 4th. Wells Fargo & Company raised Packaging Co. of America from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $187.00 to $191.00 in a research report on Wednesday, April 24th. Finally, BNP Paribas lowered Packaging Co. of America from an “outperform” rating to a “neutral” rating and set a $182.00 target price for the company. in a research report on Friday, April 12th. Five analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $173.57.

Insider Activity at Packaging Co. of America

In related news, VP Thomas A. Hassfurther sold 14,191 shares of the company’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $173.80, for a total transaction of $2,466,395.80. Following the transaction, the vice president now directly owns 183,930 shares of the company’s stock, valued at approximately $31,967,034. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, VP Thomas A. Hassfurther sold 14,191 shares of the company’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $173.80, for a total transaction of $2,466,395.80. Following the transaction, the vice president now directly owns 183,930 shares of the company’s stock, valued at approximately $31,967,034. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Thomas A. Hassfurther sold 13,850 shares of the company’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $181.06, for a total value of $2,507,681.00. Following the transaction, the vice president now directly owns 187,647 shares in the company, valued at $33,975,365.82. The disclosure for this sale can be found here. Insiders have sold 38,041 shares of company stock valued at $6,799,177 in the last ninety days. Corporate insiders own 1.70% of the company’s stock.

About Packaging Co. of America

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.