JLB & Associates Inc. Has $18.53 Million Stock Holdings in Packaging Co. of America (NYSE:PKG)

JLB & Associates Inc. trimmed its position in Packaging Co. of America (NYSE:PKG) by 1.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 82,285 shares of the industrial products company’s stock after selling 1,614 shares during the quarter. Packaging Co. of America comprises approximately 2.5% of JLB & Associates Inc.’s holdings, making the stock its 15th largest position. JLB & Associates Inc.’s holdings in Packaging Co. of America were worth $18,525,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. State Street Corp raised its holdings in Packaging Co. of America by 3.2% in the 3rd quarter. State Street Corp now owns 3,948,546 shares of the industrial products company’s stock worth $855,212,000 after acquiring an additional 123,050 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of Packaging Co. of America by 3.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,937,113 shares of the industrial products company’s stock valued at $632,654,000 after purchasing an additional 98,223 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of 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 lifted its position in shares of Packaging Co. of America by 3.4% during the 3rd quarter. FMR LLC now owns 1,076,350 shares of the industrial products company’s stock worth $231,846,000 after purchasing an additional 35,827 shares during the last quarter. Finally, Stifel Financial Corp boosted its stake in Packaging Co. of America by 1,462.2% during the 3rd 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 and hedge funds.

Insider Buying and Selling

In other Packaging Co. of America news, SVP Joseph Vaughn sold 2,300 shares of the stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $244.89, for a total transaction of $563,247.00. Following the completion of 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.60% of the stock is owned by corporate insiders.

Packaging Co. of America Trading Down 1.3 %

Shares of Packaging Co. of America stock opened at $209.49 on Friday. Packaging Co. of America has a 52-week low of $169.00 and a 52-week high of $250.82. The firm has a market capitalization of $18.81 billion, a PE ratio of 23.46, a price-to-earnings-growth ratio of 2.44 and a beta of 0.77. 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’s fifty day moving average price is $224.69 and its two-hundred day moving average price is $221.71.

Packaging Co. of America (NYSE:PKG) last posted 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 net margin of 9.60% and a return on equity of 19.67%. On average, analysts expect that Packaging Co. of America will post 10.44 EPS for the current year.

Packaging Co. of America Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Friday, December 20th were issued a $1.25 dividend. The ex-dividend date was Friday, December 20th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.39%. Packaging Co. of America’s payout ratio is presently 55.99%.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Truist Financial reaffirmed a “buy” rating and issued a $265.00 target price (down previously from $282.00) on shares of Packaging Co. of America in a report on Thursday, January 30th. Seaport Res Ptn raised shares of Packaging Co. of America from a “hold” rating to a “strong-buy” rating in a research report on Thursday, February 13th. Citigroup increased their price target on shares of Packaging Co. of America from $232.00 to $235.00 and gave the company a “neutral” rating in a report on Monday, January 6th. Wells Fargo & Company decreased their price target on shares of Packaging Co. of America from $253.00 to $236.00 and set an “overweight” rating on the stock in a research report on Thursday, January 30th. Finally, Jefferies Financial Group upgraded shares of Packaging Co. of America from a “hold” rating to a “buy” rating and increased their target price for the company from $215.00 to $280.00 in a research note on Wednesday, December 18th. Three investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Packaging Co. of America currently has an average rating of “Moderate Buy” and an average target price of $233.00.

About Packaging Co. of America

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.