Packaging Co. of America (NYSE:PKG) Shares Acquired by Cim LLC

Cim LLC lifted its holdings in Packaging Co. of America (NYSE:PKG) by 4.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,975 shares of the industrial products company’s stock after buying an additional 467 shares during the period. Cim LLC’s holdings in Packaging Co. of America were worth $2,186,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of PKG. Victory Capital Management Inc. boosted its holdings in shares of Packaging Co. of America by 1.5% during the 2nd quarter. Victory Capital Management Inc. now owns 2,853,417 shares of the industrial products company’s stock worth $520,920,000 after purchasing an additional 41,903 shares during the last quarter. FIL Ltd boosted its holdings in Packaging Co. of America by 2.6% in the 4th quarter. FIL Ltd now owns 2,210,000 shares of the industrial products company’s stock valued at $360,031,000 after purchasing an additional 55,000 shares during the last quarter. Boston Partners grew its stake in shares of Packaging Co. of America by 49.3% in the 1st quarter. Boston Partners now owns 1,446,303 shares of the industrial products company’s stock valued at $274,421,000 after buying an additional 477,487 shares during the period. Northern Trust Corp increased its holdings in shares of Packaging Co. of America by 2.4% during the 4th quarter. Northern Trust Corp now owns 1,182,797 shares of the industrial products company’s stock worth $192,689,000 after buying an additional 27,974 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of Packaging Co. of America by 8.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,153,732 shares of the industrial products company’s stock valued at $210,636,000 after buying an additional 86,005 shares during the period. 89.78% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have commented on PKG. Truist Financial raised 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 report on Thursday, July 25th. StockNews.com lowered Packaging Co. of America from a “buy” rating to a “hold” rating in a report on Saturday. Wells Fargo & Company upped their price target on Packaging Co. of America from $194.00 to $215.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. Citigroup lifted their price objective on 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. Finally, Bank of America upped their target price 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. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, Packaging Co. of America presently has an average rating of “Hold” and an average target price of $190.50.

Packaging Co. of America Price Performance

PKG stock opened at $215.35 on Wednesday. The company has a current ratio of 2.43, a quick ratio of 1.71 and a debt-to-equity ratio of 0.60. The company has a market capitalization of $19.34 billion, a P/E ratio of 26.92, a PEG ratio of 4.23 and a beta of 0.77. The business has a 50 day simple moving average of $203.76 and a 200-day simple moving average of $190.25. Packaging Co. of America has a twelve month low of $143.82 and a twelve month high of $217.69.

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

Packaging Co. of America Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 16th will be given a $1.25 dividend. The ex-dividend date is Monday, September 16th. This represents a $5.00 dividend on an annualized basis and a yield of 2.32%. Packaging Co. of America’s payout ratio is currently 62.50%.

Insider Transactions at Packaging Co. of America

In other Packaging Co. of America news, EVP Charles J. Carter sold 5,389 shares of the stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $196.28, for a total value of $1,057,752.92. Following the completion of the transaction, the executive vice president now owns 25,539 shares in the company, valued at $5,012,794.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Packaging Co. of America news, EVP Charles J. Carter sold 5,389 shares of the company’s stock in a transaction dated 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 transaction, the executive vice president now directly owns 25,539 shares in the company, valued at $5,012,794.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Donald R. Shirley sold 6,000 shares of Packaging Co. of America 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 sale, the senior vice president now owns 20,772 shares of the company’s stock, valued at $4,077,128.16. The disclosure for this sale can be found here. Company insiders own 1.60% 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.