Archer Investment Corp Purchases New Holdings in Packaging Co. of America (NYSE:PKG)

Archer Investment Corp purchased a new stake in Packaging Co. of America (NYSE:PKG) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 1,335 shares of the industrial products company’s stock, valued at approximately $288,000.

Several other hedge funds have also made changes to their positions in the company. Empirical Finance LLC lifted its position in shares of Packaging Co. of America by 2.1% in the 3rd quarter. Empirical Finance LLC now owns 3,105 shares of the industrial products company’s stock valued at $669,000 after acquiring an additional 63 shares in the last quarter. CIBC Asset Management Inc grew its position in Packaging Co. of America by 3.6% in the 3rd quarter. CIBC Asset Management Inc now owns 15,239 shares of the industrial products company’s stock worth $3,282,000 after purchasing an additional 534 shares during the last quarter. Balboa Wealth Partners acquired a new stake in Packaging Co. of America in the 3rd quarter worth $206,000. ING Groep NV lifted its holdings in shares of Packaging Co. of America by 129.8% during the 3rd quarter. ING Groep NV now owns 128,462 shares of the industrial products company’s stock worth $27,671,000 after acquiring an additional 72,567 shares during the period. Finally, Tokio Marine Asset Management Co. Ltd. lifted its holdings in Packaging Co. of America by 10.6% during the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 2,510 shares of the industrial products company’s stock valued at $541,000 after purchasing an additional 240 shares during the last quarter. Hedge funds and other institutional investors own 89.78% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on PKG. StockNews.com raised shares of Packaging Co. of America from a “hold” rating to a “buy” rating in a research note on Tuesday. Wells Fargo & Company lifted their price target on shares of 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. Truist Financial restated a “buy” rating and set a $252.00 price objective (up previously from $242.00) on shares of Packaging Co. of America in a report on Thursday, October 24th. Finally, Citigroup boosted their price objective on shares of Packaging Co. of America from $199.00 to $221.00 and gave the company a “neutral” rating in a report on Wednesday, October 2nd. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $221.60.

Insider Transactions at Packaging Co. of America

In related news, CFO Robert P. Mundy sold 12,500 shares of the company’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $240.62, for a total transaction of $3,007,750.00. Following 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Donald R. Shirley sold 8,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $240.20, for a total value of $1,921,600.00. Following the transaction, the senior vice president now directly owns 15,725 shares in the company, valued at approximately $3,777,145. This trade represents a 33.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.60% of the stock is owned by insiders.

Packaging Co. of America Stock Up 0.1 %

Packaging Co. of America stock traded up $0.29 during midday trading on Friday, reaching $235.89. The stock had a trading volume of 37,979 shares, compared to its average volume of 598,263. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.98 and a current ratio of 2.95. Packaging Co. of America has a 1-year low of $148.50 and a 1-year high of $245.00. The firm’s fifty day simple moving average is $220.55 and its 200-day simple moving average is $199.52. The stock has a market capitalization of $21.19 billion, a P/E ratio of 27.46, a price-to-earnings-growth ratio of 3.35 and a beta of 0.76.

Packaging Co. of America (NYSE:PKG) last issued its earnings results on Tuesday, October 22nd. The industrial products company reported $2.65 EPS for the quarter, topping the consensus estimate of $2.50 by $0.15. Packaging Co. of America had a return on equity of 19.10% and a net margin of 9.46%. The company had revenue of $2.18 billion during the quarter, compared to the consensus estimate of $2.09 billion. During the same period in the previous year, the company posted $2.05 EPS. The firm’s revenue for the quarter was up 14.9% compared to the same quarter last year. As a group, analysts expect that Packaging Co. of America will post 9.07 EPS for the current fiscal year.

Packaging Co. of America Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Tuesday, October 15th were issued a dividend of $1.25 per share. The ex-dividend date was Monday, September 16th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.12%. Packaging Co. of America’s dividend payout ratio (DPR) is currently 58.28%.

Packaging Co. of America Company 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.