Wellington Management Group LLP Purchases 2,786 Shares of Packaging Co. of America (NYSE:PKG)

Wellington Management Group LLP lifted its position in Packaging Co. of America (NYSE:PKG) by 30.0% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 12,070 shares of the industrial products company’s stock after acquiring an additional 2,786 shares during the quarter. Wellington Management Group LLP’s holdings in Packaging Co. of America were worth $2,600,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Asset Dedication LLC lifted its stake in Packaging Co. of America by 200.0% in the second quarter. Asset Dedication LLC now owns 168 shares of the industrial products company’s stock worth $31,000 after purchasing an additional 112 shares during the last quarter. Central Pacific Bank Trust Division purchased a new stake in shares of Packaging Co. of America in the third quarter worth approximately $32,000. Tortoise Investment Management LLC bought a new stake in shares of Packaging Co. of America during the 2nd quarter worth approximately $33,000. Larson Financial Group LLC boosted its holdings in Packaging Co. of America by 234.7% during the 3rd quarter. Larson Financial Group LLC now owns 164 shares of the industrial products company’s stock valued at $35,000 after acquiring an additional 115 shares during the period. Finally, Strategic Financial Concepts LLC bought a new position in Packaging Co. of America in the 2nd quarter valued at $50,000. 89.78% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Packaging Co. of America Stock Down 1.9 %

Shares of Packaging Co. of America stock opened at $232.61 on Wednesday. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.95 and a quick ratio of 1.98. The stock has a market cap of $20.89 billion, a price-to-earnings ratio of 27.11, a PEG ratio of 3.34 and a beta of 0.77. The firm’s 50-day moving average is $234.44 and its two-hundred day moving average is $209.89. Packaging Co. of America has a 1 year low of $159.57 and a 1 year high of $250.82.

Packaging Co. of America (NYSE:PKG) last released its quarterly earnings data on Tuesday, October 22nd. The industrial products company reported $2.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.50 by $0.15. The firm had revenue of $2.18 billion for 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 quarterly revenue was up 14.9% on a year-over-year basis. During the same period last year, the firm earned $2.05 earnings per share. As a group, research analysts expect that Packaging Co. of America will post 9.07 earnings per share for the current fiscal year.

Packaging Co. of America Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Friday, December 20th will be given a $1.25 dividend. This represents a $5.00 annualized dividend and a dividend yield of 2.15%. The ex-dividend date of this dividend is Friday, December 20th. Packaging Co. of America’s payout ratio is 58.28%.

Insider Buying and Selling

In other Packaging Co. of America news, SVP Joseph Vaughn sold 2,300 shares of the stock in a transaction dated Tuesday, December 3rd. The shares were 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 of the company’s stock, valued at approximately $2,252,253.33. This represents a 20.01 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Robert P. Mundy sold 12,500 shares of the firm’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 completion of the sale, the chief financial officer now owns 43,954 shares in the company, valued at $10,576,211.48. This represents a 22.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 33,300 shares of company stock worth $8,064,152 in the last three months. 1.60% of the stock is owned by insiders.

About Packaging Co. of America

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.