2,402 Shares in Packaging Co. of America (NYSE:PKG) Bought by Caprock Group LLC

Caprock Group LLC acquired a new position in shares of Packaging Co. of America (NYSE:PKG) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 2,402 shares of the industrial products company’s stock, valued at approximately $441,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Tokio Marine Asset Management Co. Ltd. increased its stake in Packaging Co. of America by 2.8% in the 1st quarter. Tokio Marine Asset Management Co. Ltd. now owns 2,160 shares of the industrial products company’s stock valued at $410,000 after buying an additional 59 shares during the last quarter. Deseret Mutual Benefit Administrators increased its stake in Packaging Co. of America by 22.4% in the 2nd quarter. Deseret Mutual Benefit Administrators now owns 322 shares of the industrial products company’s stock valued at $59,000 after buying an additional 59 shares during the last quarter. Kentucky Retirement Systems Insurance Trust Fund increased its stake in Packaging Co. of America by 2.4% in the 4th quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 3,193 shares of the industrial products company’s stock valued at $520,000 after buying an additional 75 shares during the last quarter. Blue Trust Inc. increased its stake in Packaging Co. of America by 3.3% in the 1st quarter. Blue Trust Inc. now owns 2,514 shares of the industrial products company’s stock valued at $477,000 after buying an additional 81 shares during the last quarter. Finally, River Street Advisors LLC increased its stake in Packaging Co. of America by 1.8% in the 1st quarter. River Street Advisors LLC now owns 4,910 shares of the industrial products company’s stock valued at $932,000 after buying an additional 86 shares during the last quarter. 89.78% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have issued reports on PKG. Citigroup lifted their price target on shares of Packaging Co. of America from $181.00 to $187.00 and gave the company a “neutral” rating in a research note on Monday, July 8th. Truist Financial lifted their price target on shares of Packaging Co. of America from $215.00 to $219.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. StockNews.com lowered shares of Packaging Co. of America from a “buy” rating to a “hold” rating in a research note on Wednesday. Bank of America boosted their price objective on shares of Packaging Co. of America from $197.00 to $200.00 and gave the stock a “buy” rating in a research note on Monday, June 17th. Finally, Wells Fargo & Company boosted their price objective on shares of Packaging Co. of America from $194.00 to $215.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Packaging Co. of America has a consensus rating of “Hold” and an average target price of $190.50.

Insider Transactions at Packaging Co. of America

In other news, EVP Charles J. Carter sold 5,389 shares of the company’s stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $196.28, for a total transaction of $1,057,752.92. Following the completion of the sale, the executive vice president now owns 25,539 shares of the company’s stock, valued at approximately $5,012,794.92. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, SVP Donald R. Shirley sold 6,000 shares of the company’s stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $196.28, for a total transaction of $1,177,680.00. Following the completion of the sale, the senior vice president now owns 20,772 shares of the company’s stock, valued at approximately $4,077,128.16. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Charles J. Carter sold 5,389 shares of the company’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $196.28, for a total transaction of $1,057,752.92. Following the sale, the executive vice president now directly owns 25,539 shares of the company’s stock, valued at approximately $5,012,794.92. The disclosure for this sale can be found here. 1.60% of the stock is currently owned by insiders.

Packaging Co. of America Stock Performance

NYSE PKG opened at $208.42 on Friday. The company has a quick ratio of 1.71, a current ratio of 2.43 and a debt-to-equity ratio of 0.60. The company has a market capitalization of $18.72 billion, a P/E ratio of 26.05, a P/E/G ratio of 5.21 and a beta of 0.77. Packaging Co. of America has a 12-month low of $143.82 and a 12-month high of $210.11. The firm has a 50-day moving average price of $196.47 and a two-hundred day moving average price of $187.27.

Packaging Co. of America (NYSE:PKG) last posted its quarterly earnings data on Tuesday, July 23rd. The industrial products company reported $2.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.14 by $0.06. The firm had revenue of $2.08 billion during the quarter, compared to the consensus estimate of $2.02 billion. Packaging Co. of America had a net margin of 9.06% and a return on equity of 18.21%. The business’s revenue for the quarter was up 6.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.31 EPS. Analysts anticipate that Packaging Co. of America will post 8.72 earnings per share for the current year.

Packaging Co. of America Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Tuesday, October 15th will be issued a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a yield of 2.40%. The ex-dividend date is Monday, September 16th. Packaging Co. of America’s dividend payout ratio is currently 62.50%.

Packaging Co. of America Company Profile

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.