Packaging Co. of America (NYSE:PKG) Shares Sold by State of Alaska Department of Revenue

State of Alaska Department of Revenue decreased its holdings in Packaging Co. of America (NYSE:PKG) by 39.3% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 10,168 shares of the industrial products company’s stock after selling 6,578 shares during the quarter. State of Alaska Department of Revenue’s holdings in Packaging Co. of America were worth $2,289,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of PKG. Larson Financial Group LLC lifted its stake in shares of Packaging Co. of America by 234.7% in the third quarter. Larson Financial Group LLC now owns 164 shares of the industrial products company’s stock worth $35,000 after acquiring an additional 115 shares in the last quarter. Fortitude Family Office LLC lifted its stake in shares of Packaging Co. of America by 150.8% in the fourth quarter. Fortitude Family Office LLC now owns 163 shares of the industrial products company’s stock worth $37,000 after acquiring an additional 98 shares in the last quarter. Assetmark Inc. lifted its stake in shares of Packaging Co. of America by 44.6% in the third quarter. Assetmark Inc. now owns 269 shares of the industrial products company’s stock worth $58,000 after acquiring an additional 83 shares in the last quarter. Brooklyn Investment Group acquired a new position in shares of Packaging Co. of America in the third quarter worth about $64,000. Finally, Allworth Financial LP lifted its stake in shares of Packaging Co. of America by 65.1% in the third quarter. Allworth Financial LP now owns 312 shares of the industrial products company’s stock worth $67,000 after acquiring an additional 123 shares in the last quarter. Institutional investors and hedge funds own 89.78% of the company’s stock.

Packaging Co. of America Stock Performance

Shares of PKG stock opened at $209.37 on Tuesday. Packaging Co. of America has a 12-month low of $163.68 and a 12-month high of $250.82. The firm has a market capitalization of $18.80 billion, a price-to-earnings ratio of 23.45, a price-to-earnings-growth ratio of 2.40 and a beta of 0.77. The business has a 50 day simple moving average of $229.62 and a 200 day simple moving average of $221.35. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.95 and a quick ratio of 1.98.

Packaging Co. of America (NYSE:PKG) last issued its quarterly earnings data on Tuesday, January 28th. The industrial products company reported $2.47 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.51 by ($0.04). Packaging Co. of America had a return on equity of 19.67% and a net margin of 9.60%. On average, equities research analysts anticipate that Packaging Co. of America will post 10.6 EPS for the current year.

Packaging Co. of America Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Friday, December 20th were given a $1.25 dividend. The ex-dividend date was Friday, December 20th. This represents a $5.00 dividend on an annualized basis and a yield of 2.39%. Packaging Co. of America’s dividend payout ratio (DPR) is 55.99%.

Insiders Place Their Bets

In other news, Director Paul T. Stecko sold 10,500 shares of the 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 sale, the director now owns 8,881 shares in the company, valued at approximately $2,175,045.71. This represents a 54.18 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Joseph Vaughn sold 2,300 shares of Packaging Co. of America stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $244.89, for a total value of $563,247.00. Following the completion of the transaction, the senior vice president now owns 9,197 shares in the company, valued at $2,252,253.33. The trade was a 20.01 % 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 insiders.

Analysts Set New Price Targets

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

Packaging Co. of America Company Profile

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.