Packaging Co. of America (NYSE:PKG) Shares Purchased by Newbridge Financial Services Group Inc.

Newbridge Financial Services Group Inc. raised its holdings in Packaging Co. of America (NYSE:PKG) by 329.6% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 464 shares of the industrial products company’s stock after purchasing an additional 356 shares during the period. Newbridge Financial Services Group Inc.’s holdings in Packaging Co. of America were worth $85,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in PKG. Victory Capital Management Inc. increased its stake in shares of Packaging Co. of America by 1.5% in the second quarter. Victory Capital Management Inc. now owns 2,853,417 shares of the industrial products company’s stock worth $520,920,000 after buying an additional 41,903 shares during the last quarter. FIL Ltd raised its stake in shares of 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 in the last quarter. Boston Partners raised 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 purchasing an additional 477,487 shares in the last quarter. Northern Trust Corp lifted its position in shares of Packaging Co. of America by 2.4% during the fourth quarter. Northern Trust Corp now owns 1,182,797 shares of the industrial products company’s stock worth $192,689,000 after purchasing an additional 27,974 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in Packaging Co. of America by 8.1% in the second quarter. Dimensional Fund Advisors LP now owns 1,153,732 shares of the industrial products company’s stock worth $210,636,000 after purchasing an additional 86,005 shares in the last quarter. 89.78% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Packaging Co. of America news, EVP Charles J. Carter sold 5,389 shares of the business’s stock in a transaction 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 completion of the transaction, the executive vice president now owns 25,539 shares in the company, valued at approximately $5,012,794.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, EVP Charles J. Carter sold 5,389 shares of the firm’s stock in a transaction 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 transaction, the executive vice president now directly owns 25,539 shares of the company’s stock, valued at $5,012,794.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Donald R. Shirley sold 6,000 shares of the company’s stock in a transaction dated Thursday, July 25th. The stock was 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 directly owns 20,772 shares of the company’s stock, valued at approximately $4,077,128.16. The disclosure for this sale can be found here. Corporate insiders own 1.60% of the company’s stock.

Packaging Co. of America Stock Performance

PKG stock opened at $211.98 on Friday. Packaging Co. of America has a 1 year low of $143.82 and a 1 year high of $217.69. The stock has a market capitalization of $19.04 billion, a price-to-earnings ratio of 26.50, a PEG ratio of 4.24 and a beta of 0.77. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.71 and a current ratio of 2.43. The stock’s fifty day moving average is $204.15 and its two-hundred day moving average is $190.40.

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

Packaging Co. of America Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 16th will be given a dividend of $1.25 per share. The ex-dividend date is Monday, September 16th. This represents a $5.00 annualized dividend and a dividend yield of 2.36%. Packaging Co. of America’s dividend payout ratio is presently 62.50%.

Analyst Ratings Changes

PKG has been the topic of several research reports. StockNews.com cut Packaging Co. of America from a “buy” rating to a “hold” rating in a research note on Saturday, September 28th. Citigroup upped their price target on Packaging Co. of America from $199.00 to $221.00 and gave the company a “neutral” rating in a research report on Wednesday. Truist Financial lifted their price objective on shares of Packaging Co. of America from $215.00 to $219.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. Bank of America increased 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 report on Monday, June 17th. Finally, Wells Fargo & Company lifted their price target on shares of Packaging Co. of America from $194.00 to $215.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, Packaging Co. of America presently has a consensus rating of “Hold” and an average price target of $196.17.

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.