Pallas Capital Advisors LLC Raises Position in Packaging Co. of America (NYSE:PKG)

Pallas Capital Advisors LLC increased its holdings in shares of Packaging Co. of America (NYSE:PKG) by 15.5% during the 4th quarter, Holdings Channel reports. The institutional investor owned 1,805 shares of the industrial products company’s stock after purchasing an additional 242 shares during the period. Pallas Capital Advisors LLC’s holdings in Packaging Co. of America were worth $406,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Central Pacific Bank Trust Division acquired a new position in shares of Packaging Co. of America during the third quarter valued at about $32,000. Fortitude Family Office LLC grew its position in Packaging Co. of America by 150.8% during the 4th quarter. Fortitude Family Office LLC now owns 163 shares of the industrial products company’s stock worth $37,000 after purchasing an additional 98 shares during the last quarter. Larson Financial Group LLC increased its stake 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 purchasing an additional 115 shares in the last quarter. Assetmark Inc. raised its holdings 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 buying an additional 83 shares during the last quarter. Finally, Brooklyn Investment Group acquired a new stake in shares of Packaging Co. of America during the third quarter worth $64,000. 89.78% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on PKG shares. StockNews.com upgraded Packaging Co. of America from a “hold” rating to a “buy” rating in a research note on Tuesday, December 24th. Wells Fargo & Company raised their price objective on Packaging Co. of America from $235.00 to $253.00 and gave the stock an “overweight” rating in a research note on Thursday, October 24th. Citigroup upped their target price on Packaging Co. of America from $232.00 to $235.00 and gave the company a “neutral” rating in a research report on Monday, January 6th. Jefferies Financial Group raised shares of Packaging Co. of America from a “hold” rating to a “buy” rating and raised their price target for the stock from $215.00 to $280.00 in a research report on Wednesday, December 18th. Finally, Truist Financial upped their price objective on shares of Packaging Co. of America from $252.00 to $282.00 and gave the company a “buy” rating in a report on Monday, January 6th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $238.67.

Insider Buying and Selling at Packaging Co. of America

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, SVP Joseph Vaughn sold 2,300 shares of Packaging Co. of America stock in a transaction dated 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 sale, the senior vice president now owns 9,197 shares in the company, valued at approximately $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. Over the last three months, insiders have sold 33,300 shares of company stock valued at $8,064,152. Company insiders own 1.60% of the company’s stock.

Packaging Co. of America Price Performance

Shares of NYSE PKG opened at $232.35 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 firm’s 50 day simple moving average is $235.97 and its 200-day simple moving average is $215.60. Packaging Co. of America has a 12 month low of $159.57 and a 12 month high of $250.82. The stock has a market capitalization of $20.87 billion, a price-to-earnings ratio of 27.08, a PEG ratio of 3.34 and a beta of 0.79.

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 for the quarter, beating analysts’ consensus estimates 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 company had revenue of $2.18 billion during the quarter, compared to analysts’ expectations of $2.09 billion. During the same quarter in the previous year, the company earned $2.05 earnings per share. The firm’s revenue for the quarter was up 14.9% on a year-over-year basis. Analysts expect that Packaging Co. of America will post 9.07 EPS for the current year.

Packaging Co. of America Dividend Announcement

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

Packaging Co. of America 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.