Desjardins Global Asset Management Inc. Buys 272 Shares of Packaging Co. of America (NYSE:PKG)

Desjardins Global Asset Management Inc. grew its stake in Packaging Co. of America (NYSE:PKG) by 485.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 328 shares of the industrial products company’s stock after acquiring an additional 272 shares during the period. Desjardins Global Asset Management Inc.’s holdings in Packaging Co. of America were worth $53,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in Packaging Co. of America by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 12,047,771 shares of the industrial products company’s stock valued at $1,880,777,000 after purchasing an additional 161,559 shares during the last quarter. BlackRock Inc. lifted its stake in Packaging Co. of America by 1.7% in the 1st quarter. BlackRock Inc. now owns 9,048,220 shares of the industrial products company’s stock valued at $1,256,164,000 after purchasing an additional 151,624 shares during the last quarter. State Street Corp lifted its stake in Packaging Co. of America by 16.8% in the 1st quarter. State Street Corp now owns 4,607,784 shares of the industrial products company’s stock valued at $645,404,000 after purchasing an additional 663,047 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Packaging Co. of America by 0.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,186,729 shares of the industrial products company’s stock valued at $335,772,000 after purchasing an additional 11,536 shares during the last quarter. Finally, Geode Capital Management LLC lifted its stake in Packaging Co. of America by 2.7% in the 1st quarter. Geode Capital Management LLC now owns 2,065,992 shares of the industrial products company’s stock valued at $286,214,000 after purchasing an additional 55,031 shares during the last quarter. Institutional investors own 89.78% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Truist Financial raised their target price on shares of Packaging Co. of America from $170.00 to $187.00 and gave the company a “buy” rating in a research note on Thursday, January 4th. Seaport Res Ptn downgraded shares of Packaging Co. of America from a “buy” rating to a “neutral” rating in a research report on Monday, January 29th. StockNews.com downgraded shares of Packaging Co. of America from a “buy” rating to a “hold” rating in a research report on Friday. Bank of America upgraded shares of Packaging Co. of America from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $172.00 to $202.00 in a research report on Monday, March 4th. Finally, BNP Paribas downgraded shares of Packaging Co. of America from an “outperform” rating to a “neutral” rating and set a $182.00 price objective for the company. in a research report on Friday, April 12th. Six investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $171.29.

Packaging Co. of America Stock Up 0.9 %

NYSE PKG opened at $179.89 on Friday. The company has a current ratio of 2.57, a quick ratio of 1.77 and a debt-to-equity ratio of 0.62. Packaging Co. of America has a 1-year low of $122.20 and a 1-year high of $191.27. The company has a 50 day moving average of $181.22 and a 200-day moving average of $167.48. The company has a market cap of $16.15 billion, a price-to-earnings ratio of 21.21, a PEG ratio of 4.29 and a beta of 0.78.

Packaging Co. of America (NYSE:PKG) last released its quarterly earnings results on Thursday, January 25th. The industrial products company reported $2.13 earnings per share for the quarter, beating analysts’ consensus estimates of $1.83 by $0.30. Packaging Co. of America had a net margin of 9.81% and a return on equity of 20.25%. The company had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $1.90 billion. During the same period in the previous year, the business earned $2.35 earnings per share. The firm’s quarterly revenue was down 2.0% on a year-over-year basis. On average, equities research analysts expect that Packaging Co. of America will post 8.31 earnings per share for the current fiscal year.

Packaging Co. of America Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Friday, March 15th were given a $1.25 dividend. The ex-dividend date was Thursday, March 14th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.78%. Packaging Co. of America’s payout ratio is 58.96%.

Insider Activity at Packaging Co. of America

In related news, CFO Robert P. Mundy sold 10,000 shares of Packaging Co. of America stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $182.51, for a total value of $1,825,100.00. Following the transaction, the chief financial officer now directly owns 46,454 shares of the company’s stock, valued at $8,478,319.54. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CFO Robert P. Mundy sold 10,000 shares of Packaging Co. of America stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $182.51, for a total value of $1,825,100.00. Following the transaction, the chief financial officer now directly owns 46,454 shares of the company’s stock, valued at $8,478,319.54. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Thomas A. Hassfurther sold 13,850 shares of Packaging Co. of America stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $181.06, for a total transaction of $2,507,681.00. Following the completion of the transaction, the vice president now directly owns 187,647 shares in the company, valued at $33,975,365.82. The disclosure for this sale can be found here. Insiders have sold 38,041 shares of company stock valued at $6,799,177 over the last three months. 1.60% of the stock is owned by insiders.

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.