Packaging Co. of America (NYSE:PKG) Shares Acquired by Prospera Financial Services Inc

Prospera Financial Services Inc increased its stake in shares of Packaging Co. of America (NYSE:PKG) by 2.3% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,410 shares of the industrial products company’s stock after buying an additional 212 shares during the quarter. Prospera Financial Services Inc’s holdings in Packaging Co. of America were worth $2,029,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. Victory Capital Management Inc. grew its holdings in shares of Packaging Co. of America by 1.5% during the second 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 during the last quarter. Boston Partners grew its holdings 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 buying an additional 477,487 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of 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 valued at $210,636,000 after buying an additional 86,005 shares during the last quarter. Millennium Management LLC grew its holdings in shares of Packaging Co. of America by 34.3% during the second quarter. Millennium Management LLC now owns 1,027,585 shares of the industrial products company’s stock valued at $187,596,000 after buying an additional 262,315 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD grew its holdings in shares of Packaging Co. of America by 5.1% during the first 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 buying an additional 42,465 shares during the last quarter. 89.78% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, SVP Donald R. Shirley sold 8,000 shares of the company’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 owns 15,725 shares in the company, valued at $3,777,145. This represents a 33.72 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Robert P. Mundy sold 12,500 shares of the company’s stock in a transaction dated Friday, November 8th. The stock was 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 owns 43,954 shares of the company’s stock, valued at approximately $10,576,211.48. This trade represents a 22.14 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.70% of the company’s stock.

Packaging Co. of America Trading Up 2.4 %

PKG stock opened at $244.12 on Thursday. The company’s 50-day simple moving average is $223.36 and its 200-day simple moving average is $201.48. The company has a quick ratio of 1.98, a current ratio of 2.95 and a debt-to-equity ratio of 0.58. Packaging Co. of America has a 52-week low of $151.74 and a 52-week high of $248.62. The firm has a market cap of $21.92 billion, a P/E ratio of 28.45, a PEG ratio of 3.31 and a beta of 0.76.

Packaging Co. of America (NYSE:PKG) last posted its earnings results on Tuesday, October 22nd. The industrial products company reported $2.65 earnings per share (EPS) for the quarter, topping the consensus estimate 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 analyst estimates of $2.09 billion. During the same period in the prior year, the company posted $2.05 EPS. The company’s revenue for the quarter was up 14.9% on a year-over-year basis. As a group, equities analysts forecast that Packaging Co. of America will post 9.07 EPS for the current fiscal year.

Packaging Co. of America Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Tuesday, October 15th were given a dividend of $1.25 per share. The ex-dividend date was Monday, September 16th. This represents a $5.00 annualized dividend and a dividend yield of 2.05%. Packaging Co. of America’s dividend payout ratio (DPR) is presently 58.28%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. Truist Financial reissued a “buy” rating and set a $252.00 price objective (up from $242.00) on shares of Packaging Co. of America in a report on Thursday, October 24th. Wells Fargo & Company upped 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. StockNews.com lowered shares of Packaging Co. of America from a “buy” rating to a “hold” rating in a report on Wednesday. Finally, Citigroup upped their price target 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. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $221.60.

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.