Packaging Co. of America (NYSE:PKG) Shares Bought by Atomi Financial Group Inc.

Atomi Financial Group Inc. lifted its position in shares of Packaging Co. of America (NYSE:PKG) by 4.1% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 1,591 shares of the industrial products company’s stock after purchasing an additional 63 shares during the quarter. Atomi Financial Group Inc.’s holdings in Packaging Co. of America were worth $343,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Boston Partners boosted its stake in shares of Packaging Co. of America by 49.3% during 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 last quarter. Millennium Management LLC increased its holdings in shares of Packaging Co. of America by 34.3% during the second quarter. Millennium Management LLC now owns 1,027,585 shares of the industrial products company’s stock valued at $187,596,000 after purchasing an additional 262,315 shares during the period. AQR Capital Management LLC boosted its stake in Packaging Co. of America by 164.3% during 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 buying an additional 249,483 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in Packaging Co. of America by 31.9% during 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 in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in Packaging Co. of America by 8.1% during the second 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 in the last quarter. Hedge funds and other institutional investors own 89.78% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on PKG. Truist Financial lifted their price target on Packaging Co. of America from $215.00 to $219.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. Bank of America lifted their price target on Packaging Co. of America from $197.00 to $200.00 and gave the stock a “buy” rating in a research report on Monday, June 17th. Citigroup boosted their price objective on Packaging Co. of America from $199.00 to $221.00 and gave the company a “neutral” rating in a research report on Wednesday, October 2nd. Wells Fargo & Company upped their price target on Packaging Co. of America from $215.00 to $235.00 and gave the company an “overweight” rating in a research report on Monday, October 7th. Finally, StockNews.com cut Packaging Co. of America from a “buy” rating to a “hold” rating in a research report on Saturday, September 28th. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $199.50.

Insider Buying and Selling at Packaging Co. of America

In related news, 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 sale, the senior vice president now owns 20,772 shares in the company, valued at $4,077,128.16. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Packaging Co. of America news, SVP Donald R. Shirley sold 6,000 shares of the stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $196.28, for a total value of $1,177,680.00. Following the transaction, the senior vice president now owns 20,772 shares in the company, valued at approximately $4,077,128.16. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Charles J. Carter sold 5,389 shares of the stock in a transaction that occurred 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 approximately $5,012,794.92. The trade was a 0.00 % decrease in their position. 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 opened at $217.95 on Friday. The business has a fifty day simple moving average of $206.56 and a 200 day simple moving average of $191.85. The company has a market capitalization of $19.57 billion, a PE ratio of 27.35, a price-to-earnings-growth ratio of 4.25 and a beta of 0.77. Packaging Co. of America has a 1 year low of $143.82 and a 1 year high of $218.67. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.43 and a quick ratio of 1.71.

Packaging Co. of America (NYSE:PKG) last posted its quarterly earnings results on Tuesday, July 23rd. The industrial products company reported $2.20 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 company had revenue of $2.08 billion during the quarter, compared to analysts’ expectations of $2.02 billion. During the same quarter in the previous year, the firm earned $2.31 EPS. Packaging Co. of America’s revenue was up 6.3% on a year-over-year basis. Research analysts expect that Packaging Co. of America will post 8.73 EPS for the current year.

Packaging Co. of America Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Tuesday, October 15th were given a $1.25 dividend. The ex-dividend date of this dividend was Monday, September 16th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.29%. Packaging Co. of America’s dividend payout ratio (DPR) is presently 62.74%.

Packaging Co. of America 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.