Russell Investments Group Ltd. Boosts Stock Position in Packaging Co. of America (NYSE:PKG)

Russell Investments Group Ltd. raised its stake in Packaging Co. of America (NYSE:PKG) by 30.7% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 165,668 shares of the industrial products company’s stock after purchasing an additional 38,959 shares during the period. Russell Investments Group Ltd. owned 0.18% of Packaging Co. of America worth $21,894,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Clarius Group LLC purchased a new position in Packaging Co. of America in the second quarter valued at about $200,000. Cetera Advisor Networks LLC grew its stake in shares of Packaging Co. of America by 1.4% during the second quarter. Cetera Advisor Networks LLC now owns 13,636 shares of the industrial products company’s stock worth $1,802,000 after acquiring an additional 188 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Packaging Co. of America by 3.2% during the second quarter. Charles Schwab Investment Management Inc. now owns 2,175,193 shares of the industrial products company’s stock worth $287,474,000 after acquiring an additional 67,247 shares during the last quarter. Citigroup Inc. grew its stake in shares of Packaging Co. of America by 102.2% during the second quarter. Citigroup Inc. now owns 179,601 shares of the industrial products company’s stock worth $23,736,000 after acquiring an additional 90,791 shares during the last quarter. Finally, Beverly Hills Private Wealth LLC grew its stake in shares of Packaging Co. of America by 91.3% during the second quarter. Beverly Hills Private Wealth LLC now owns 14,374 shares of the industrial products company’s stock worth $2,212,000 after acquiring an additional 6,860 shares during the last quarter. Hedge funds and other institutional investors own 90.53% of the company’s stock.

Packaging Co. of America Trading Down 1.4 %

Shares of NYSE:PKG opened at $153.08 on Tuesday. The company has a current ratio of 2.17, a quick ratio of 1.40 and a debt-to-equity ratio of 0.54. Packaging Co. of America has a 12-month low of $122.20 and a 12-month high of $159.25. The business has a 50 day moving average of $152.32 and a two-hundred day moving average of $143.14. The company has a market capitalization of $13.72 billion, a PE ratio of 17.62, a PEG ratio of 3.72 and a beta of 0.83.

Packaging Co. of America (NYSE:PKG) last released its quarterly earnings data on Tuesday, October 24th. The industrial products company reported $2.05 EPS for the quarter, topping the consensus estimate of $1.92 by $0.13. Packaging Co. of America had a return on equity of 21.30% and a net margin of 10.04%. The business had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.99 billion. During the same quarter in the prior year, the firm posted $2.83 EPS. The business’s quarterly revenue was down 9.5% compared to the same quarter last year. As a group, analysts forecast that Packaging Co. of America will post 8.35 EPS for the current year.

Packaging Co. of America Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, October 13th. Stockholders of record on Monday, September 25th were given a dividend of $1.25 per share. The ex-dividend date was Friday, September 22nd. This represents a $5.00 dividend on an annualized basis and a dividend yield of 3.27%. Packaging Co. of America’s dividend payout ratio (DPR) is 57.54%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on PKG shares. Truist Financial boosted their price target on Packaging Co. of America from $156.00 to $170.00 and gave the stock a “buy” rating in a research note on Thursday, September 21st. Wells Fargo & Company boosted their price target on Packaging Co. of America from $122.00 to $137.00 in a research note on Thursday, July 27th. StockNews.com upgraded Packaging Co. of America from a “hold” rating to a “buy” rating in a research note on Thursday, November 16th. Jefferies Financial Group decreased their target price on Packaging Co. of America from $142.00 to $140.00 and set a “hold” rating for the company in a report on Wednesday, October 18th. Finally, Citigroup lifted their target price on Packaging Co. of America from $150.00 to $158.00 and gave the stock a “neutral” rating in a report on Wednesday, October 25th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $145.83.

Insider Activity

In other news, SVP Kent A. Pflederer sold 4,000 shares of the stock in a transaction that occurred on Monday, October 30th. The stock was sold at an average price of $150.93, for a total transaction of $603,720.00. Following the transaction, the senior vice president now owns 54,447 shares in the company, valued at approximately $8,217,685.71. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, SVP Kent A. Pflederer sold 4,000 shares of the stock in a transaction on Monday, October 30th. The stock was sold at an average price of $150.93, for a total value of $603,720.00. Following the completion of the transaction, the senior vice president now directly owns 54,447 shares of the company’s stock, valued at approximately $8,217,685.71. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Paul T. Stecko sold 9,737 shares of the stock in a transaction on Tuesday, October 31st. The shares were sold at an average price of $153.99, for a total value of $1,499,400.63. Following the completion of the transaction, the director now directly owns 18,765 shares of the company’s stock, valued at $2,889,622.35. The disclosure for this sale can be found here. Insiders own 1.60% of the company’s stock.

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 Packaging and Paper segments. 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.