Alaska Permanent Fund Corp Acquires 395 Shares of Packaging Co. of America (NYSE:PKG)

Alaska Permanent Fund Corp grew its holdings in Packaging Co. of America (NYSE:PKG) by 0.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 49,359 shares of the industrial products company’s stock after purchasing an additional 395 shares during the quarter. Alaska Permanent Fund Corp’s holdings in Packaging Co. of America were worth $8,041,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the business. Annis Gardner Whiting Capital Advisors LLC acquired a new stake in shares of Packaging Co. of America in the 3rd quarter valued at approximately $25,000. Anchor Investment Management LLC acquired a new stake in shares of Packaging Co. of America in the 4th quarter valued at approximately $37,000. Fortis Group Advisors LLC acquired a new stake in shares of Packaging Co. of America in the 3rd quarter valued at approximately $46,000. BKM Wealth Management LLC acquired a new stake in Packaging Co. of America during the 4th quarter worth approximately $49,000. Finally, Orion Capital Management LLC acquired a new stake in Packaging Co. of America during the 3rd quarter worth approximately $53,000. Institutional investors own 89.78% of the company’s stock.

Packaging Co. of America Stock Performance

PKG stock traded down $1.45 during midday trading on Thursday, reaching $172.47. 9,199 shares of the company were exchanged, compared to its average volume of 692,425. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.57 and a quick ratio of 1.77. The business has a 50-day moving average price of $181.56 and a two-hundred day moving average price of $168.02. Packaging Co. of America has a one year low of $122.20 and a one year high of $191.27. The firm has a market capitalization of $15.48 billion, a price-to-earnings ratio of 21.74, a price-to-earnings-growth ratio of 4.15 and a beta of 0.78.

Packaging Co. of America (NYSE:PKG) last posted its earnings results on Tuesday, April 23rd. The industrial products company reported $1.72 earnings per share for the quarter, topping analysts’ consensus estimates of $1.63 by $0.09. Packaging Co. of America had a return on equity of 18.94% and a net margin of 9.25%. The company had revenue of $1.98 billion during the quarter, compared to the consensus estimate of $1.91 billion. During the same quarter last year, the firm earned $2.20 earnings per share. The company’s revenue was up .2% on a year-over-year basis. Equities research analysts forecast that Packaging Co. of America will post 8.24 EPS for the current year.

Packaging Co. of America Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 15th were paid a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a yield of 2.90%. The ex-dividend date of this dividend was Thursday, March 14th. Packaging Co. of America’s dividend payout ratio (DPR) is presently 62.50%.

Wall Street Analysts Forecast Growth

PKG has been the subject of several research reports. Wells Fargo & Company raised shares of Packaging Co. of America from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $187.00 to $191.00 in a research note on Wednesday. Bank of America raised shares of Packaging Co. of America from a “neutral” rating to a “buy” rating and raised their price target for the stock from $172.00 to $202.00 in a research note on Monday, March 4th. Seaport Res Ptn cut shares of Packaging Co. of America from a “buy” rating to a “neutral” rating in a research note on Monday, January 29th. Truist Financial raised their target price on shares of Packaging Co. of America from $170.00 to $187.00 and gave the company a “buy” rating in a research note on Thursday, January 4th. Finally, BNP Paribas cut shares of Packaging Co. of America from an “outperform” rating to a “neutral” rating and set a $182.00 target price for the company. in a research note on Friday, April 12th. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $173.86.

Insider Activity at Packaging Co. of America

In related news, CFO Robert P. Mundy sold 10,000 shares of the business’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $182.51, for a total value of $1,825,100.00. Following the completion of the transaction, the chief financial officer now owns 46,454 shares of the company’s stock, valued at $8,478,319.54. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, VP Thomas A. Hassfurther sold 13,850 shares of the business’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $181.06, for a total value of $2,507,681.00. Following the completion of the transaction, the vice president now owns 187,647 shares of the company’s stock, valued at $33,975,365.82. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Robert P. Mundy sold 10,000 shares of the business’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $182.51, for a total value of $1,825,100.00. Following the transaction, the chief financial officer now directly owns 46,454 shares of the company’s stock, valued at approximately $8,478,319.54. The disclosure for this sale can be found here. Insiders sold a total of 38,041 shares of company stock valued at $6,799,177 over the last quarter. 1.60% of the stock is owned by corporate insiders.

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.