Healthcare of Ontario Pension Plan Trust Fund Buys New Position in Packaging Co. of America (NYSE:PKG)

Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of Packaging Co. of America (NYSE:PKG) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 768 shares of the industrial products company’s stock, valued at approximately $146,000.

Other hedge funds have also bought and sold shares of the company. Louisiana State Employees Retirement System bought a new stake in Packaging Co. of America during the fourth quarter worth $880,000. International Assets Investment Management LLC lifted its holdings in Packaging Co. of America by 19,323.7% during the fourth quarter. International Assets Investment Management LLC now owns 30,301 shares of the industrial products company’s stock worth $4,936,000 after acquiring an additional 30,145 shares during the period. CANADA LIFE ASSURANCE Co lifted its holdings in Packaging Co. of America by 4.6% during the first quarter. CANADA LIFE ASSURANCE Co now owns 70,689 shares of the industrial products company’s stock worth $13,419,000 after acquiring an additional 3,078 shares during the period. Mitsubishi UFJ Trust & Banking Corp lifted its holdings in Packaging Co. of America by 30.4% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 90,686 shares of the industrial products company’s stock worth $17,168,000 after acquiring an additional 21,143 shares during the period. Finally, Cim LLC bought a new stake in Packaging Co. of America during the fourth quarter worth $2,003,000. 89.78% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Packaging Co. of America news, Director Karen E. Gowland bought 300 shares of Packaging Co. of America stock in a transaction that occurred on Wednesday, May 15th. The stock was acquired at an average cost of $182.06 per share, for a total transaction of $54,618.00. Following the completion of the transaction, the director now directly owns 916 shares in the company, valued at $166,766.96. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.60% of the stock is owned by company insiders.

Packaging Co. of America Price Performance

Shares of NYSE PKG opened at $199.00 on Friday. The stock has a market cap of $17.87 billion, a PE ratio of 24.88, a price-to-earnings-growth ratio of 5.13 and a beta of 0.77. Packaging Co. of America has a fifty-two week low of $143.82 and a fifty-two week high of $199.42. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.74 and a current ratio of 2.46. The stock has a fifty day moving average of $184.62 and a 200-day moving average of $179.34.

Packaging Co. of America (NYSE:PKG) last posted its earnings results on Tuesday, July 23rd. The industrial products company reported $2.20 EPS for the quarter, topping the consensus estimate of $2.14 by $0.06. Packaging Co. of America had a return on equity of 18.39% and a net margin of 9.06%. The business had revenue of $2.08 billion during the quarter, compared to analysts’ expectations of $2.02 billion. During the same period in the previous year, the business earned $2.31 earnings per share. The firm’s revenue was up 6.3% on a year-over-year basis. Equities research analysts anticipate that Packaging Co. of America will post 8.53 earnings per share for the current year.

Packaging Co. of America Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Friday, June 14th were given a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a yield of 2.51%. The ex-dividend date was Friday, June 14th. Packaging Co. of America’s payout ratio is 62.50%.

Wall Street Analyst Weigh In

Several analysts have issued reports on PKG shares. Truist Financial boosted their target price on Packaging Co. of America from $215.00 to $219.00 and gave the company a “buy” rating in a research note on Thursday. Bank of America boosted their target price on Packaging Co. of America from $197.00 to $200.00 and gave the company a “buy” rating in a research note on Monday, June 17th. Citigroup boosted their target price on Packaging Co. of America from $181.00 to $187.00 and gave the company a “neutral” rating in a research note on Monday, July 8th. StockNews.com upgraded Packaging Co. of America from a “hold” rating to a “buy” rating in a research note on Wednesday. Finally, BNP Paribas cut Packaging Co. of America from an “outperform” rating to a “neutral” rating and set a $182.00 price target for the company. in a research report on Friday, April 12th. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, Packaging Co. of America presently has a consensus rating of “Moderate Buy” and an average price target of $190.50.

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.