Handelsbanken Fonder AB Boosts Position in Packaging Co. of America (NYSE:PKG)

Handelsbanken Fonder AB boosted its position in shares of Packaging Co. of America (NYSE:PKGFree Report) by 5.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 66,382 shares of the industrial products company’s stock after acquiring an additional 3,526 shares during the quarter. Handelsbanken Fonder AB owned 0.07% of Packaging Co. of America worth $14,945,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of PKG. Larson Financial Group LLC increased its position in Packaging Co. of America by 234.7% during the third 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 last quarter. Fortitude Family Office LLC increased its position in Packaging Co. of America by 150.8% in the fourth quarter. Fortitude Family Office LLC now owns 163 shares of the industrial products company’s stock worth $37,000 after buying an additional 98 shares in the last quarter. Golden State Wealth Management LLC purchased a new stake in Packaging Co. of America in the fourth quarter worth about $48,000. Assetmark Inc. increased its position in 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 in the last quarter. Finally, Brooklyn Investment Group purchased a new stake in Packaging Co. of America in the third quarter worth about $64,000. Hedge funds and other institutional investors own 89.78% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on the company. Wells Fargo & Company reduced their price target on Packaging Co. of America from $253.00 to $236.00 and set an “overweight” rating for the company in a research report on Thursday, January 30th. StockNews.com cut Packaging Co. of America from a “buy” rating to a “hold” rating in a research report on Wednesday, January 29th. Jefferies Financial Group upgraded Packaging Co. of America from a “hold” rating to a “buy” rating and upped their price target for the stock from $215.00 to $280.00 in a research report on Wednesday, December 18th. Seaport Res Ptn upgraded Packaging Co. of America from a “hold” rating to a “strong-buy” rating in a research report on Thursday, February 13th. Finally, Citigroup upped their price objective on Packaging Co. of America from $232.00 to $235.00 and gave the stock a “neutral” rating in a research note on Monday, January 6th. Three analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $233.00.

Check Out Our Latest Stock Analysis on PKG

Insider Activity at Packaging Co. of America

In related news, SVP Joseph Vaughn sold 2,300 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $244.89, for a total transaction of $563,247.00. Following the completion of the transaction, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.60% of the stock is owned by corporate insiders.

Packaging Co. of America Stock Performance

NYSE PKG opened at $208.19 on Friday. The firm has a market cap of $18.70 billion, a price-to-earnings ratio of 23.31, a price-to-earnings-growth ratio of 2.44 and a beta of 0.77. The company has a quick ratio of 1.98, a current ratio of 2.95 and a debt-to-equity ratio of 0.58. The business has a 50-day moving average price of $224.09 and a 200-day moving average price of $221.82. Packaging Co. of America has a twelve month low of $169.00 and a twelve month high of $250.82.

Packaging Co. of America (NYSE:PKGGet Free Report) last announced its quarterly earnings results on Tuesday, January 28th. The industrial products company reported $2.47 EPS for the quarter, missing analysts’ consensus estimates of $2.51 by ($0.04). Packaging Co. of America had a net margin of 9.60% and a return on equity of 19.67%. As a group, equities research analysts predict that Packaging Co. of America will post 10.44 EPS for the current fiscal year.

Packaging Co. of America Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Friday, December 20th were paid a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a yield of 2.40%. The ex-dividend date of this dividend was Friday, December 20th. Packaging Co. of America’s payout ratio is presently 55.99%.

Packaging Co. of America Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Packaging Co. of America (NYSE:PKG)

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