Archer Investment Corp Buys Shares of 1,335 Packaging Co. of America (NYSE:PKG)

Archer Investment Corp bought a new stake in Packaging Co. of America (NYSE:PKG) in the 3rd quarter, according to its most recent disclosure with the SEC. The fund bought 1,335 shares of the industrial products company’s stock, valued at approximately $288,000.

Several other hedge funds have also made changes to their positions in PKG. Headlands Technologies LLC purchased a new position in Packaging Co. of America during the 1st quarter worth approximately $43,000. Avantax Advisory Services Inc. grew its holdings in Packaging Co. of America by 14.0% in the first quarter. Avantax Advisory Services Inc. now owns 10,040 shares of the industrial products company’s stock valued at $1,905,000 after purchasing an additional 1,231 shares during the last quarter. Bleakley Financial Group LLC acquired a new position in shares of Packaging Co. of America during the 1st quarter worth $215,000. State Board of Administration of Florida Retirement System lifted its holdings in shares of Packaging Co. of America by 10.7% in the first quarter. State Board of Administration of Florida Retirement System now owns 108,959 shares of the industrial products company’s stock valued at $20,678,000 after purchasing an additional 10,516 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in shares of Packaging Co. of America by 20.3% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 107,020 shares of the industrial products company’s stock valued at $20,310,000 after acquiring an additional 18,058 shares during the last quarter. Institutional investors and hedge funds own 89.78% of the company’s stock.

Packaging Co. of America Stock Up 0.1 %

Shares of NYSE:PKG traded up $0.29 during midday trading on Friday, hitting $235.89. 37,979 shares of the company’s stock traded hands, compared to its average volume of 598,263. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.98 and a current ratio of 2.95. The company has a market cap of $21.19 billion, a PE ratio of 27.46, a P/E/G ratio of 3.35 and a beta of 0.76. The firm’s fifty day moving average price is $220.55 and its two-hundred day moving average price is $199.52. Packaging Co. of America has a twelve month low of $148.50 and a twelve month high of $245.00.

Packaging Co. of America (NYSE:PKG) last released its earnings results on Tuesday, October 22nd. The industrial products company reported $2.65 earnings per share for the quarter, topping the consensus estimate of $2.50 by $0.15. The company had revenue of $2.18 billion during the quarter, compared to the consensus estimate of $2.09 billion. Packaging Co. of America had a net margin of 9.46% and a return on equity of 19.10%. The company’s revenue was up 14.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.05 EPS. On average, equities research analysts anticipate that Packaging Co. of America will post 9.07 EPS 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 issued a $1.25 dividend. This represents a $5.00 annualized dividend and a dividend yield of 2.12%. The ex-dividend date of this dividend was Monday, September 16th. Packaging Co. of America’s dividend payout ratio (DPR) is presently 58.28%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Citigroup upped their target price on shares of Packaging Co. of America from $199.00 to $221.00 and gave the company a “neutral” rating in a report on Wednesday, October 2nd. Wells Fargo & Company lifted their price target on shares of Packaging Co. of America from $235.00 to $253.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. Truist Financial reiterated a “buy” rating and issued a $252.00 price target (up previously from $242.00) on shares of Packaging Co. of America in a report on Thursday, October 24th. Finally, StockNews.com upgraded shares of Packaging Co. of America from a “hold” rating to a “buy” rating in a report on Tuesday. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $221.60.

Insider Activity

In other Packaging Co. of America news, SVP Donald R. Shirley sold 8,000 shares of the business’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $240.20, for a total transaction of $1,921,600.00. Following the completion of the transaction, the senior vice president now directly owns 15,725 shares of the company’s stock, valued at $3,777,145. The trade was a 33.72 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Robert P. Mundy sold 12,500 shares of the business’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 transaction, the chief financial officer now directly owns 43,954 shares of the company’s stock, valued at $10,576,211.48. The trade was a 22.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.60% of the company’s stock.

Packaging Co. of America Company 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.