Mirae Asset Global Investments Co. Ltd. Acquires 11,648 Shares of Packaging Co. of America (NYSE:PKG)

Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Packaging Co. of America (NYSE:PKG) by 16.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 82,979 shares of the industrial products company’s stock after purchasing an additional 11,648 shares during the period. Mirae Asset Global Investments Co. Ltd. owned approximately 0.09% of Packaging Co. of America worth $18,821,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in PKG. State Street Corp grew its position in shares of Packaging Co. of America by 3.2% during the 3rd quarter. State Street Corp now owns 3,948,546 shares of the industrial products company’s stock worth $855,212,000 after buying an additional 123,050 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in Packaging Co. of America by 3.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,937,113 shares of the industrial products company’s stock worth $632,654,000 after acquiring an additional 98,223 shares in the last quarter. Geode Capital Management LLC grew its holdings in Packaging Co. of America by 0.6% in the third quarter. Geode Capital Management LLC now owns 2,337,296 shares of the industrial products company’s stock worth $501,896,000 after purchasing an additional 12,936 shares during the period. FMR LLC increased its stake in Packaging Co. of America by 3.4% in the third quarter. FMR LLC now owns 1,076,350 shares of the industrial products company’s stock valued at $231,846,000 after purchasing an additional 35,827 shares in the last quarter. Finally, Stifel Financial Corp raised its holdings in shares of Packaging Co. of America by 1,462.2% during the third quarter. Stifel Financial Corp now owns 573,073 shares of the industrial products company’s stock valued at $123,440,000 after purchasing an additional 536,389 shares during the period. 89.78% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

PKG has been the topic of a number of research reports. Truist Financial reaffirmed a “buy” rating and set a $265.00 price target (down from $282.00) on shares of Packaging Co. of America in a research note on Thursday, January 30th. Jefferies Financial Group upgraded Packaging Co. of America from a “hold” rating to a “buy” rating and increased their target price for the stock from $215.00 to $280.00 in a report on Wednesday, December 18th. StockNews.com lowered shares of Packaging Co. of America from a “buy” rating to a “hold” rating in a research note on Wednesday, January 29th. Citigroup raised their price objective on shares of Packaging Co. of America from $232.00 to $235.00 and gave the company a “neutral” rating in a research note on Monday, January 6th. Finally, Wells Fargo & Company decreased their target price on shares of 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. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $233.00.

Insider Activity at Packaging Co. of America

In other Packaging Co. of America news, CFO Robert P. Mundy sold 12,500 shares of the business’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $240.62, for a total value of $3,007,750.00. Following the sale, the chief financial officer now directly owns 43,954 shares in the company, valued at $10,576,211.48. The trade was a 22.14 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Joseph Vaughn sold 2,300 shares of the company’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $244.89, for a total value of $563,247.00. Following the transaction, the senior vice president now directly owns 9,197 shares in the company, valued at $2,252,253.33. This represents a 20.01 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 33,300 shares of company stock worth $8,064,152. 1.70% of the stock is owned by company insiders.

Packaging Co. of America Price Performance

PKG opened at $210.20 on Thursday. Packaging Co. of America has a 1 year low of $161.55 and a 1 year high of $250.82. 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 company has a market capitalization of $18.88 billion, a price-to-earnings ratio of 23.54, a P/E/G ratio of 2.29 and a beta of 0.77. The firm’s fifty day moving average price is $231.80 and its two-hundred day moving average price is $220.80.

Packaging Co. of America (NYSE:PKG) last announced its earnings results on Tuesday, January 28th. The industrial products company reported $2.47 earnings per share for the quarter, missing analysts’ consensus estimates of $2.51 by ($0.04). Packaging Co. of America had a return on equity of 19.67% and a net margin of 9.60%. As a group, analysts anticipate that Packaging Co. of America will post 11.15 earnings per share for the current fiscal year.

Packaging Co. of America Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Friday, December 20th were issued a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.38%. The ex-dividend date was Friday, December 20th. Packaging Co. of America’s dividend payout ratio (DPR) is currently 55.99%.

Packaging Co. of America Company 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.