Packaging Co. of America (NYSE:PKG) Shares Purchased by Mizuho Securities USA LLC

Mizuho Securities USA LLC raised its stake in Packaging Co. of America (NYSE:PKG) by 1,800.2% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 130,583 shares of the industrial products company’s stock after acquiring an additional 123,711 shares during the quarter. Mizuho Securities USA LLC owned approximately 0.15% of Packaging Co. of America worth $28,128,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of PKG. Victory Capital Management Inc. lifted its stake in shares of Packaging Co. of America by 1.5% in the 2nd quarter. Victory Capital Management Inc. now owns 2,853,417 shares of the industrial products company’s stock valued at $520,920,000 after purchasing an additional 41,903 shares during the period. Boston Partners boosted its stake in shares of Packaging Co. of America by 49.3% during the 1st quarter. Boston Partners now owns 1,446,303 shares of the industrial products company’s stock worth $274,421,000 after acquiring an additional 477,487 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of Packaging Co. of America by 8.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,153,732 shares of the industrial products company’s stock valued at $210,636,000 after acquiring an additional 86,005 shares during the period. Millennium Management LLC grew its position in shares of Packaging Co. of America by 34.3% during the 2nd quarter. Millennium Management LLC now owns 1,027,585 shares of the industrial products company’s stock valued at $187,596,000 after acquiring an additional 262,315 shares during the period. Finally, Price T Rowe Associates Inc. MD increased its stake in shares of Packaging Co. of America by 5.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 869,341 shares of the industrial products company’s stock valued at $164,985,000 after purchasing an additional 42,465 shares in the last quarter. Hedge funds and other institutional investors own 89.78% of the company’s stock.

Packaging Co. of America Trading Up 0.1 %

Shares of Packaging Co. of America stock opened at $235.81 on Friday. 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’s 50 day simple moving average is $221.23 and its 200-day simple moving average is $199.93. The stock has a market cap of $21.18 billion, a P/E ratio of 27.48, a P/E/G ratio of 3.35 and a beta of 0.76. Packaging Co. of America has a 1-year low of $148.50 and a 1-year high of $245.00.

Packaging Co. of America (NYSE:PKG) last released its quarterly earnings data on Tuesday, October 22nd. The industrial products company reported $2.65 earnings per share for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $2.09 billion. During the same quarter in the previous year, the company posted $2.05 earnings per share. The firm’s revenue for the quarter was up 14.9% compared to the same quarter last year. Analysts predict that Packaging Co. of America will post 9.07 EPS for the current fiscal year.

Packaging Co. of America Announces Dividend

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

Analyst Ratings Changes

Several brokerages have recently weighed in on PKG. StockNews.com upgraded Packaging Co. of America from a “hold” rating to a “buy” rating in a research report on Tuesday. Citigroup increased 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. Wells Fargo & Company lifted their target price on shares of 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. Finally, Truist Financial reiterated a “buy” rating and set a $252.00 price objective (up from $242.00) on shares of Packaging Co. of America in a research note on Thursday, October 24th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, Packaging Co. of America has an average rating of “Moderate Buy” and an average price target of $221.60.

Insider Activity

In other news, CFO Robert P. Mundy sold 12,500 shares of the company’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 transaction, the chief financial officer now owns 43,954 shares of the company’s stock, 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 SEC, which is available at this hyperlink. Also, SVP Donald R. Shirley sold 8,000 shares of the firm’s stock in a transaction dated 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 $3,777,145. The trade was a 33.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.60% of the company’s stock.

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.