Packaging Co. of America (NYSE:PKG) Shares Acquired by Fortis Group Advisors LLC

Fortis Group Advisors LLC boosted its stake in Packaging Co. of America (NYSE:PKG) by 100.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 600 shares of the industrial products company’s stock after purchasing an additional 300 shares during the quarter. Fortis Group Advisors LLC’s holdings in Packaging Co. of America were worth $98,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of PKG. Royal London Asset Management Ltd. increased its stake in Packaging Co. of America by 15.0% during the fourth quarter. Royal London Asset Management Ltd. now owns 24,412 shares of the industrial products company’s stock worth $3,977,000 after acquiring an additional 3,189 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in Packaging Co. of America by 31.9% in the fourth quarter. Goldman Sachs Group Inc. now owns 783,619 shares of the industrial products company’s stock valued at $127,659,000 after buying an additional 189,401 shares during the period. Centaurus Financial Inc. acquired a new position in Packaging Co. of America during the fourth quarter valued at approximately $101,000. Integrated Advisors Network LLC lifted its position in Packaging Co. of America by 7.1% during the fourth quarter. Integrated Advisors Network LLC now owns 3,209 shares of the industrial products company’s stock valued at $523,000 after buying an additional 213 shares in the last quarter. Finally, Virtu Financial LLC purchased a new stake in Packaging Co. of America during the fourth quarter worth approximately $539,000. Institutional investors and hedge funds own 89.78% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on PKG shares. BNP Paribas cut shares of Packaging Co. of America from an “outperform” rating to a “neutral” rating and set a $182.00 price target for the company. in a research report on Friday, April 12th. Bank of America upgraded Packaging Co. of America from a “neutral” rating to a “buy” rating and upped their price objective for the company from $172.00 to $202.00 in a research note on Monday, March 4th. Truist Financial raised their price target on shares of Packaging Co. of America from $191.00 to $208.00 and gave the stock a “buy” rating in a research report on Thursday, May 30th. StockNews.com upgraded Packaging Co. of America from a “hold” rating to a “buy” rating in a research report on Tuesday, May 21st. Finally, Citigroup reduced their target price on shares of Packaging Co. of America from $183.00 to $181.00 and set a “neutral” rating for the company in a research note on Thursday, April 25th. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, Packaging Co. of America presently has a consensus rating of “Moderate Buy” and a consensus price target of $176.57.

Insider Transactions at Packaging Co. of America

In other news, Director Karen E. Gowland bought 300 shares of the business’s stock in a transaction 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 purchase, the director now directly owns 916 shares in the company, valued at $166,766.96. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 1.60% of the stock is currently owned by insiders.

Packaging Co. of America Price Performance

Shares of PKG traded down $1.18 during midday trading on Friday, reaching $182.68. The stock had a trading volume of 269,613 shares, compared to its average volume of 442,586. The firm’s 50 day moving average price is $180.69 and its 200-day moving average price is $174.90. The company has a market capitalization of $16.40 billion, a P/E ratio of 22.84, a P/E/G ratio of 7.91 and a beta of 0.78. Packaging Co. of America has a 52 week low of $127.69 and a 52 week high of $191.27. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.46 and a quick ratio of 1.74.

Packaging Co. of America (NYSE:PKG) last issued its quarterly earnings results on Tuesday, April 23rd. The industrial products company reported $1.72 earnings per share for the quarter, beating analysts’ consensus estimates of $1.63 by $0.09. Packaging Co. of America had a net margin of 9.25% and a return on equity of 18.80%. The company had revenue of $1.98 billion during the quarter, compared to the consensus estimate of $1.91 billion. During the same period in the prior year, the company earned $2.20 EPS. Packaging Co. of America’s revenue was up .2% on a year-over-year basis. On average, analysts forecast that Packaging Co. of America will post 8.27 earnings per share for the current fiscal year.

Packaging Co. of America Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 14th will be paid a $1.25 dividend. The ex-dividend date of this dividend is Friday, June 14th. This represents a $5.00 dividend on an annualized basis and a yield of 2.74%. Packaging Co. of America’s dividend payout ratio is currently 62.50%.

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.