Packaging Co. of America (NYSE:PKG) Shares Acquired by Atria Investments Inc

Atria Investments Inc increased its stake in shares of Packaging Co. of America (NYSE:PKG) by 2.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,145 shares of the industrial products company’s stock after buying an additional 321 shares during the quarter. Atria Investments Inc’s holdings in Packaging Co. of America were worth $2,616,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of PKG. Victory Capital Management Inc. grew its position in Packaging Co. of America by 1.5% in the 2nd quarter. Victory Capital Management Inc. now owns 2,853,417 shares of the industrial products company’s stock valued at $520,920,000 after buying an additional 41,903 shares in the last quarter. Boston Partners increased its stake in shares of Packaging Co. of America by 49.3% during the first quarter. Boston Partners now owns 1,446,303 shares of the industrial products company’s stock valued at $274,421,000 after acquiring an additional 477,487 shares during the period. Dimensional Fund Advisors LP raised its holdings 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 worth $210,636,000 after purchasing an additional 86,005 shares in the last quarter. Millennium Management LLC lifted its position in Packaging Co. of America by 34.3% in the second quarter. Millennium Management LLC now owns 1,027,585 shares of the industrial products company’s stock worth $187,596,000 after purchasing an additional 262,315 shares during the period. Finally, Price T Rowe Associates Inc. MD boosted its stake in Packaging Co. of America by 5.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 869,341 shares of the industrial products company’s stock valued at $164,985,000 after purchasing an additional 42,465 shares in the last quarter. Institutional investors and hedge funds own 89.78% of the company’s stock.

Insider Transactions at Packaging Co. of America

In other news, SVP Donald R. Shirley sold 8,000 shares of the business’s stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $240.20, for a total value of $1,921,600.00. Following the completion of the sale, the senior vice president now directly owns 15,725 shares in the company, valued at approximately $3,777,145. The trade was a 33.72 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Robert P. Mundy sold 12,500 shares of the company’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $240.62, for a total transaction of $3,007,750.00. Following the sale, the chief financial officer now owns 43,954 shares of the company’s stock, valued at $10,576,211.48. This trade represents a 22.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.60% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several analysts have recently weighed in on PKG shares. StockNews.com upgraded Packaging Co. of America from a “hold” rating to a “buy” rating in a report on Tuesday. Citigroup raised their price objective on shares of 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 boosted their target price on shares of Packaging Co. of America from $235.00 to $253.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. Finally, Truist Financial restated a “buy” rating and set a $252.00 target price (up from $242.00) on shares of Packaging Co. of America in a report on Thursday, October 24th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $221.60.

Packaging Co. of America Price Performance

NYSE PKG opened at $235.58 on Friday. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.95 and a quick ratio of 1.98. The firm has a market capitalization of $21.16 billion, a price-to-earnings ratio of 27.46, a price-to-earnings-growth ratio of 3.37 and a beta of 0.76. The company has a 50 day simple moving average of $220.55 and a 200-day simple moving average of $199.52. Packaging Co. of America has a 52-week low of $148.50 and a 52-week high of $245.00.

Packaging Co. of America (NYSE:PKG) last posted its quarterly earnings results on Tuesday, October 22nd. The industrial products company reported $2.65 earnings per share for the quarter, topping analysts’ consensus estimates of $2.50 by $0.15. Packaging Co. of America had a net margin of 9.46% and a return on equity of 19.10%. The business had revenue of $2.18 billion for the quarter, compared to the consensus estimate of $2.09 billion. During the same period in the prior year, the business posted $2.05 earnings per share. Packaging Co. of America’s revenue for the quarter was up 14.9% compared to the same quarter last year. Equities research analysts predict that Packaging Co. of America will post 9.07 earnings per share for the current fiscal year.

Packaging Co. of America Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Tuesday, October 15th were paid a dividend of $1.25 per share. The ex-dividend date of this dividend was Monday, September 16th. This represents a $5.00 annualized dividend and a dividend yield of 2.12%. Packaging Co. of America’s dividend payout ratio (DPR) is 58.28%.

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.