Transamerica Financial Advisors Inc. Grows Stake in Packaging Co. of America (NYSE:PKG)

Transamerica Financial Advisors Inc. raised its position in shares of Packaging Co. of America (NYSE:PKG) by 48,200.0% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,898 shares of the industrial products company’s stock after purchasing an additional 2,892 shares during the period. Transamerica Financial Advisors Inc.’s holdings in Packaging Co. of America were worth $653,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Cerity Partners LLC increased its holdings in Packaging Co. of America by 105.2% during the third quarter. Cerity Partners LLC now owns 15,833 shares of the industrial products company’s stock valued at $3,410,000 after buying an additional 8,117 shares during the period. Larson Financial Group LLC raised its position in shares of Packaging Co. of America by 234.7% in the 3rd quarter. Larson Financial Group LLC now owns 164 shares of the industrial products company’s stock worth $35,000 after acquiring an additional 115 shares in the last quarter. Bank of Montreal Can lifted its stake in shares of Packaging Co. of America by 19.0% during the 3rd quarter. Bank of Montreal Can now owns 101,641 shares of the industrial products company’s stock worth $21,924,000 after purchasing an additional 16,219 shares during the last quarter. FMR LLC lifted its stake 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, BNP Paribas Financial Markets grew its stake in Packaging Co. of America by 24.2% in the third quarter. BNP Paribas Financial Markets now owns 121,641 shares of the industrial products company’s stock valued at $26,201,000 after purchasing an additional 23,683 shares during the last quarter. 89.78% of the stock is currently owned by hedge funds and other institutional investors.

Packaging Co. of America Stock Down 1.4 %

Packaging Co. of America stock opened at $195.40 on Friday. The business’s 50-day simple moving average is $210.46 and its two-hundred day simple moving average is $222.16. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.98 and a current ratio of 2.95. The company has a market cap of $17.55 billion, a PE ratio of 21.88, a PEG ratio of 2.41 and a beta of 0.77. Packaging Co. of America has a fifty-two week low of $169.00 and a fifty-two week high of $250.82.

Packaging Co. of America (NYSE:PKG) last issued its earnings results on Tuesday, January 28th. The industrial products company reported $2.47 EPS 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%. Equities analysts anticipate that Packaging Co. of America will post 10.44 EPS for the current year.

Packaging Co. of America Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Friday, March 14th will be paid a $1.25 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.56%. Packaging Co. of America’s payout ratio is currently 55.99%.

Wall Street Analysts Forecast Growth

PKG has been the subject of several analyst reports. 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 for the company in a research report on Thursday, January 30th. Citigroup raised their target price 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. Seaport Res Ptn raised Packaging Co. of America from a “hold” rating to a “strong-buy” rating in a research report on Thursday, February 13th. StockNews.com raised Packaging Co. of America from a “hold” rating to a “buy” rating in a research report on Saturday. Finally, Truist Financial reaffirmed a “buy” rating and set a $265.00 target price (down from $282.00) on shares of Packaging Co. of America in a research report on Thursday, January 30th. Two analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Packaging Co. of America has a consensus 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.