Packaging Co. of America (NYSE:PKG) Shares Bought by Versant Capital Management Inc

Versant Capital Management Inc lifted its holdings in shares of Packaging Co. of America (NYSE:PKG) by 121.7% during the 4th quarter, Holdings Channel.com reports. The fund owned 317 shares of the industrial products company’s stock after buying an additional 174 shares during the period. Versant Capital Management Inc’s holdings in Packaging Co. of America were worth $71,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in PKG. Stifel Financial Corp boosted its holdings in shares of 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 in the last quarter. Millennium Management LLC increased its holdings in shares of Packaging Co. of America by 34.3% in the 2nd quarter. Millennium Management LLC now owns 1,027,585 shares of the industrial products company’s stock valued at $187,596,000 after acquiring an additional 262,315 shares during the period. AQR Capital Management LLC increased its stake in Packaging Co. of America by 164.3% in the second quarter. AQR Capital Management LLC now owns 401,360 shares of the industrial products company’s stock valued at $73,272,000 after purchasing an additional 249,483 shares during the period. International Assets Investment Management LLC raised its stake in Packaging Co. of America by 41,151.7% during the 3rd quarter. International Assets Investment Management LLC now owns 155,519 shares of the industrial products company’s stock valued at $33,499,000 after acquiring an additional 155,142 shares during the last quarter. Finally, Two Sigma Advisers LP raised its stake in shares of Packaging Co. of America by 218.1% during the third quarter. Two Sigma Advisers LP now owns 207,700 shares of the industrial products company’s stock worth $44,739,000 after purchasing an additional 142,400 shares during the last quarter. Hedge funds and other institutional investors own 89.78% of the company’s stock.

Packaging Co. of America Trading Up 0.3 %

NYSE PKG opened at $225.88 on Monday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.98 and a current ratio of 2.95. Packaging Co. of America has a one year low of $159.57 and a one year high of $250.82. The company’s 50 day moving average price is $236.06 and its 200 day moving average price is $213.83. The firm has a market capitalization of $20.29 billion, a price-to-earnings ratio of 26.33, a PEG ratio of 3.34 and a beta of 0.79.

Packaging Co. of America (NYSE:PKG) last released its quarterly earnings results on Tuesday, October 22nd. The industrial products company reported $2.65 EPS for the quarter, topping the consensus estimate of $2.50 by $0.15. The firm had revenue of $2.18 billion for the quarter, compared to analyst estimates of $2.09 billion. Packaging Co. of America had a return on equity of 19.10% and a net margin of 9.46%. Packaging Co. of America’s revenue for the quarter was up 14.9% on a year-over-year basis. During the same period in the previous year, the company posted $2.05 EPS. On average, sell-side analysts predict that Packaging Co. of America will post 9.07 EPS for the current year.

Packaging Co. of America Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Friday, December 20th will be issued a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a yield of 2.21%. The ex-dividend date is Friday, December 20th. Packaging Co. of America’s dividend payout ratio is currently 58.28%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on PKG shares. Jefferies Financial Group upgraded shares of Packaging Co. of America from a “hold” rating to a “buy” rating and raised their price objective for the company from $215.00 to $280.00 in a research report on Wednesday, December 18th. Wells Fargo & Company increased their price objective on shares of Packaging Co. of America from $235.00 to $253.00 and gave the company an “overweight” rating in a research note on Thursday, October 24th. StockNews.com upgraded Packaging Co. of America from a “hold” rating to a “buy” rating in a research report on Tuesday, December 24th. Citigroup raised their price target on shares of Packaging Co. of America from $199.00 to $221.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 2nd. Finally, Truist Financial restated a “buy” rating and set a $252.00 price objective (up previously from $242.00) on shares of Packaging Co. of America in a report on Thursday, October 24th. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $231.33.

Insider Buying and Selling

In other Packaging Co. of America news, SVP Joseph Vaughn sold 2,300 shares of Packaging Co. of America stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $244.89, for a total value of $563,247.00. Following the completion of the transaction, the senior vice president now directly owns 9,197 shares in the company, valued at $2,252,253.33. The trade was a 20.01 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Paul T. Stecko sold 10,500 shares of the stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $244.91, for a total value of $2,571,555.00. Following the completion of the sale, the director now directly owns 8,881 shares in the company, valued at $2,175,045.71. This represents a 54.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 33,300 shares of company stock worth $8,064,152. Corporate insiders own 1.60% of the company’s stock.

About Packaging Co. of America

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.