Sanibel Captiva Trust Company Inc. Acquires New Holdings in Packaging Co. of America (NYSE:PKG)

Sanibel Captiva Trust Company Inc. bought a new stake in Packaging Co. of America (NYSE:PKG) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 987 shares of the industrial products company’s stock, valued at approximately $222,000.

Other hedge funds have also modified their holdings of the company. Vanguard Personalized Indexing Management LLC lifted its position in Packaging Co. of America by 14.9% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 6,379 shares of the industrial products company’s stock valued at $1,161,000 after acquiring an additional 828 shares during the last quarter. Intech Investment Management LLC lifted its holdings in shares of Packaging Co. of America by 430.8% during the 2nd quarter. Intech Investment Management LLC now owns 12,814 shares of the industrial products company’s stock valued at $2,339,000 after purchasing an additional 10,400 shares during the last quarter. Benjamin F. Edwards & Company Inc. boosted its position in shares of Packaging Co. of America by 15.9% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 25,905 shares of the industrial products company’s stock worth $4,730,000 after purchasing an additional 3,552 shares in the last quarter. Canada Pension Plan Investment Board purchased a new position in Packaging Co. of America during the 2nd quarter worth $1,296,000. Finally, AE Wealth Management LLC increased its position in Packaging Co. of America by 28.6% during the 2nd quarter. AE Wealth Management LLC now owns 3,751 shares of the industrial products company’s stock valued at $685,000 after buying an additional 835 shares in the last quarter. 89.78% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Truist Financial raised their price target on Packaging Co. of America from $252.00 to $282.00 and gave the stock a “buy” rating in a report on Monday, January 6th. Citigroup lifted their target price on shares of 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. Jefferies Financial Group upgraded shares of Packaging Co. of America from a “hold” rating to a “buy” rating and upped their price target for the company from $215.00 to $280.00 in a research note on Wednesday, December 18th. StockNews.com upgraded shares of Packaging Co. of America from a “hold” rating to a “buy” rating in a research note on Tuesday, December 24th. Finally, Wells Fargo & Company upped their target price on Packaging Co. of America from $235.00 to $253.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, Packaging Co. of America has a consensus rating of “Moderate Buy” and a consensus target price of $238.67.

Packaging Co. of America Trading Up 0.9 %

Shares of Packaging Co. of America stock opened at $237.52 on Monday. Packaging Co. of America has a 1 year low of $159.57 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 stock has a market cap of $21.33 billion, a PE ratio of 27.68, a price-to-earnings-growth ratio of 2.24 and a beta of 0.79. The firm has a fifty day moving average price of $235.69 and a 200 day moving average price of $217.15.

Packaging Co. of America (NYSE:PKG) last issued its quarterly earnings data on Tuesday, October 22nd. The industrial products company reported $2.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.50 by $0.15. The business had revenue of $2.18 billion during the quarter, compared to analysts’ expectations of $2.09 billion. Packaging Co. of America had a return on equity of 19.10% and a net margin of 9.46%. The company’s revenue for the quarter was up 14.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.05 EPS. Equities research analysts predict that Packaging Co. of America will post 9.08 earnings per share for the current year.

Packaging Co. of America Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Friday, December 20th were issued a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a dividend yield of 2.11%. The ex-dividend date was Friday, December 20th. Packaging Co. of America’s dividend payout ratio (DPR) is 58.28%.

Insider Activity at Packaging Co. of America

In other Packaging Co. of America news, SVP Donald R. Shirley sold 8,000 shares of the firm’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 sale, the senior vice president now directly owns 15,725 shares of the company’s stock, valued at approximately $3,777,145. This trade represents a 33.72 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Paul T. Stecko sold 10,500 shares of the company’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $244.91, for a total value of $2,571,555.00. Following the transaction, the director now directly owns 8,881 shares of the company’s stock, valued at approximately $2,175,045.71. The trade was a 54.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 33,300 shares of company stock worth $8,064,152 in the last three months. Company insiders own 1.70% of the company’s stock.

Packaging Co. of America 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.