GEM Asset Management LLC Takes Position in Packaging Co. of America (NYSE:PKG)

GEM Asset Management LLC acquired a new position in Packaging Co. of America (NYSE:PKG) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 915 shares of the industrial products company’s stock, valued at approximately $206,000.

A number of other large investors have also recently bought and sold shares of PKG. State Street Corp lifted its stake in shares of Packaging Co. of America by 3.2% in the third quarter. State Street Corp now owns 3,948,546 shares of the industrial products company’s stock worth $855,212,000 after buying an additional 123,050 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Packaging Co. of America by 3.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,937,113 shares of the industrial products company’s stock worth $632,654,000 after acquiring an additional 98,223 shares during the period. Geode Capital Management LLC lifted its position in Packaging Co. of America by 0.6% during the 3rd quarter. Geode Capital Management LLC now owns 2,337,296 shares of the industrial products company’s stock worth $501,896,000 after acquiring an additional 12,936 shares during the last quarter. FMR LLC boosted its holdings in Packaging Co. of America by 3.4% during the third quarter. FMR LLC now owns 1,076,350 shares of the industrial products company’s stock valued at $231,846,000 after acquiring an additional 35,827 shares during the period. Finally, Stifel Financial Corp grew its position in shares of Packaging Co. of America by 1,462.2% in the third quarter. Stifel Financial Corp now owns 573,073 shares of the industrial products company’s stock valued at $123,440,000 after purchasing an additional 536,389 shares during the last quarter. 89.78% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

PKG has been the subject of several research analyst reports. Citigroup boosted their price objective on Packaging Co. of America from $232.00 to $235.00 and gave the stock a “neutral” rating in a research report on Monday, January 6th. Wells Fargo & Company cut their price target on Packaging Co. of America from $253.00 to $236.00 and set an “overweight” rating for the company in a report on Thursday, January 30th. 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 stock from $215.00 to $280.00 in a research note on Wednesday, December 18th. StockNews.com cut shares of Packaging Co. of America from a “buy” rating to a “hold” rating in a research note on Wednesday, January 29th. Finally, Truist Financial reissued a “buy” rating and issued a $265.00 price target (down from $282.00) on shares of Packaging Co. of America in a report on Thursday, January 30th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Packaging Co. of America has an average rating of “Moderate Buy” and an average price target of $233.00.

Packaging Co. of America Stock Performance

Shares of NYSE PKG opened at $208.39 on Wednesday. The firm has a market capitalization of $18.72 billion, a price-to-earnings ratio of 23.34, a PEG ratio of 2.40 and a beta of 0.77. Packaging Co. of America has a one year low of $163.68 and a one year high of $250.82. The business has a fifty day simple moving average of $228.91 and a 200 day simple moving average of $221.42. The company has a current ratio of 2.95, a quick ratio of 1.98 and a debt-to-equity ratio of 0.58.

Packaging Co. of America (NYSE:PKG) last announced its quarterly earnings results on Tuesday, January 28th. The industrial products company reported $2.47 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.51 by ($0.04). Packaging Co. of America had a net margin of 9.60% and a return on equity of 19.67%. Sell-side analysts expect that Packaging Co. of America will post 10.6 EPS for the current year.

Packaging Co. of America Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Friday, December 20th were paid a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a yield of 2.40%. The ex-dividend date of this dividend was Friday, December 20th. Packaging Co. of America’s dividend payout ratio is 55.99%.

Insider Buying and Selling at Packaging Co. of America

In other Packaging Co. of America news, Director Paul T. Stecko sold 10,500 shares of Packaging Co. of America stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $244.91, for a total transaction of $2,571,555.00. Following the completion of the transaction, the director now directly owns 8,881 shares of the company’s stock, valued at approximately $2,175,045.71. This trade represents a 54.18 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Joseph Vaughn sold 2,300 shares of the company’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $244.89, for a total transaction of $563,247.00. Following the completion of the sale, the senior vice president now directly owns 9,197 shares in the company, valued at approximately $2,252,253.33. The trade was a 20.01 % decrease in their position. 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 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.