Packaging Co. of America (NYSE:PKG) Shares Bought by USA Financial Formulas

USA Financial Formulas raised its stake in Packaging Co. of America (NYSE:PKG - Free Report) by 23,659.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,227 shares of the industrial products company's stock after acquiring an additional 5,205 shares during the period. USA Financial Formulas' holdings in Packaging Co. of America were worth $852,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in PKG. Envestnet Portfolio Solutions Inc. lifted its position in Packaging Co. of America by 38.3% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 6,004 shares of the industrial products company's stock valued at $978,000 after purchasing an additional 1,662 shares during the last quarter. QRG Capital Management Inc. lifted its position in shares of Packaging Co. of America by 18.2% in the 4th quarter. QRG Capital Management Inc. now owns 29,837 shares of the industrial products company's stock valued at $4,861,000 after acquiring an additional 4,601 shares in the last quarter. Johnson Investment Counsel Inc. acquired a new position in Packaging Co. of America in the 4th quarter worth approximately $455,000. Dana Investment Advisors Inc. grew its position in Packaging Co. of America by 5.8% during the 4th quarter. Dana Investment Advisors Inc. now owns 6,050 shares of the industrial products company's stock worth $986,000 after purchasing an additional 334 shares in the last quarter. Finally, Cary Street Partners Investment Advisory LLC lifted its holdings in shares of Packaging Co. of America by 6.8% in the fourth quarter. Cary Street Partners Investment Advisory LLC now owns 8,643 shares of the industrial products company's stock valued at $1,408,000 after purchasing an additional 551 shares in the last quarter. 89.78% of the stock is owned by institutional investors.

Packaging Co. of America Stock Performance

PKG stock traded up $2.03 during mid-day trading on Monday, reaching $181.43. 308,646 shares of the stock traded hands, compared to its average volume of 674,245. The firm has a market capitalization of $16.29 billion, a PE ratio of 22.68, a P/E/G ratio of 4.34 and a beta of 0.80. The business has a 50-day moving average of $182.34 and a two-hundred day moving average of $170.54. Packaging Co. of America has a 52 week low of $122.20 and a 52 week high of $191.27. The company has a quick ratio of 1.74, a current ratio of 2.46 and a debt-to-equity ratio of 0.62.

Packaging Co. of America (NYSE:PKG - Get Free Report) last posted its quarterly earnings data on Tuesday, April 23rd. The industrial products company reported $1.72 earnings per share for the quarter, beating the consensus estimate of $1.63 by $0.09. Packaging Co. of America had a return on equity of 18.80% and a net margin of 9.25%. The company had revenue of $1.98 billion during the quarter, compared to analysts' expectations of $1.91 billion. During the same period in the prior year, the business earned $2.20 earnings per share. Packaging Co. of America's revenue for the quarter was up .2% compared to the same quarter last year. As a group, equities analysts predict that Packaging Co. of America will post 8.27 EPS for the current fiscal year.

Packaging Co. of America Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 14th will be issued a dividend of $1.25 per share. The ex-dividend date is Friday, June 14th. This represents a $5.00 annualized dividend and a dividend yield of 2.76%. Packaging Co. of America's payout ratio is 62.50%.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Citigroup lowered their price target on Packaging Co. of America from $183.00 to $181.00 and set a "neutral" rating on the stock in a report on Thursday, April 25th. StockNews.com lowered shares of Packaging Co. of America from a "buy" rating to a "hold" rating in a research note on Friday, April 19th. BNP Paribas lowered shares of Packaging Co. of America from an "outperform" rating to a "neutral" rating and set a $182.00 price objective for the company. in a research note on Friday, April 12th. Seaport Res Ptn downgraded shares of Packaging Co. of America from a "buy" rating to a "neutral" rating in a research report on Monday, January 29th. Finally, Bank of America raised Packaging Co. of America from a "neutral" rating to a "buy" rating and boosted their price target for the stock from $172.00 to $202.00 in a research report on Monday, March 4th. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $173.57.

Insider Activity

In related news, CFO Robert P. Mundy sold 10,000 shares of Packaging Co. of America stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $182.51, for a total transaction of $1,825,100.00. Following the sale, the chief financial officer now directly owns 46,454 shares of the company's stock, valued at $8,478,319.54. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, VP Thomas A. Hassfurther sold 13,850 shares of the company's stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $181.06, for a total value of $2,507,681.00. Following the sale, the vice president now owns 187,647 shares of the company's stock, valued at $33,975,365.82. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Robert P. Mundy sold 10,000 shares of Packaging Co. of America stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $182.51, for a total value of $1,825,100.00. Following the sale, the chief financial officer now directly owns 46,454 shares in the company, valued at $8,478,319.54. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 38,041 shares of company stock valued at $6,799,177. Insiders own 1.70% of the company's stock.

About Packaging Co. of America

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.