Versor Investments LP Acquires New Stake in Packaging Co. of America (NYSE:PKG)

Versor Investments LP bought a new stake in Packaging Co. of America (NYSE:PKG) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 7,200 shares of the industrial products company’s stock, valued at approximately $1,621,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Fortitude Family Office LLC grew its holdings in shares of Packaging Co. of America by 150.8% during the fourth quarter. Fortitude Family Office LLC now owns 163 shares of the industrial products company’s stock worth $37,000 after buying an additional 98 shares in the last quarter. Larson Financial Group LLC boosted its position in Packaging Co. of America by 234.7% during the third 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 during the last quarter. Centricity Wealth Management LLC purchased a new stake in Packaging Co. of America in the 4th quarter worth approximately $44,000. Golden State Wealth Management LLC acquired a new position in Packaging Co. of America in the 4th quarter valued at $48,000. Finally, Assetmark Inc. lifted its stake in shares of Packaging Co. of America by 44.6% during the 3rd quarter. Assetmark Inc. now owns 269 shares of the industrial products company’s stock worth $58,000 after purchasing an additional 83 shares during the period. 89.78% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Packaging Co. of America news, SVP Joseph Vaughn sold 2,300 shares of the company’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $244.89, for a total value of $563,247.00. Following the completion of the transaction, the senior vice president now owns 9,197 shares in the company, valued at $2,252,253.33. This represents a 20.01 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.70% of the company’s stock.

Packaging Co. of America Trading Up 0.1 %

Shares of PKG stock opened at $212.86 on Thursday. The company has a quick ratio of 1.98, a current ratio of 2.95 and a debt-to-equity ratio of 0.58. Packaging Co. of America has a fifty-two week low of $169.00 and a fifty-two week high of $250.82. The firm’s 50 day moving average price is $222.82 and its two-hundred day moving average price is $222.36. The stock has a market cap of $19.12 billion, a price-to-earnings ratio of 23.84, a price-to-earnings-growth ratio of 2.41 and a beta of 0.77.

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 the consensus estimate 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 anticipate 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 will be paid on Tuesday, April 15th. Stockholders of record on Friday, March 14th will be given a $1.25 dividend. This represents a $5.00 annualized dividend and a dividend yield of 2.35%. Packaging Co. of America’s payout ratio is 55.99%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on PKG shares. Jefferies Financial Group raised Packaging Co. of America from a “hold” rating to a “buy” rating and lifted their price objective for the company from $215.00 to $280.00 in a research report on Wednesday, December 18th. Truist Financial restated a “buy” rating and issued a $265.00 price target (down previously from $282.00) on shares of Packaging Co. of America in a report on Thursday, January 30th. Citigroup increased their price objective on shares of Packaging Co. of America from $232.00 to $235.00 and gave the stock a “neutral” rating in a report on Monday, January 6th. StockNews.com upgraded shares of Packaging Co. of America from a “hold” rating to a “buy” rating in a report on Wednesday. Finally, Seaport Res Ptn raised shares of Packaging Co. of America from a “hold” rating to a “strong-buy” rating in a research note on Thursday, February 13th. Two investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock 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.