Packaging Co. of America (NYSE:PKG) is Axecap Investments LLC’s 2nd Largest Position

Axecap Investments LLC increased its stake in Packaging Co. of America (NYSE:PKG) by 8.8% in the fourth quarter, Holdings Channel reports. The institutional investor owned 20,690 shares of the industrial products company’s stock after acquiring an additional 1,667 shares during the period. Packaging Co. of America makes up about 3.5% of Axecap Investments LLC’s investment portfolio, making the stock its 2nd biggest holding. Axecap Investments LLC’s holdings in Packaging Co. of America were worth $4,658,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Larson Financial Group LLC lifted its position in shares of 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 purchasing an additional 115 shares during the last quarter. Fortitude Family Office LLC lifted its position 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 purchasing an additional 98 shares during the last quarter. Golden State Wealth Management LLC bought a new stake in shares of Packaging Co. of America in the fourth quarter valued at about $48,000. Assetmark Inc. raised its holdings in shares of Packaging Co. of America by 44.6% in the third quarter. Assetmark Inc. now owns 269 shares of the industrial products company’s stock valued at $58,000 after acquiring an additional 83 shares in the last quarter. Finally, Brooklyn Investment Group bought a new stake in shares of Packaging Co. of America in the third quarter valued at about $64,000. 89.78% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Packaging Co. of America news, Director Paul T. Stecko sold 10,500 shares of the business’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $244.91, for a total value of $2,571,555.00. Following the completion of the transaction, the director now directly owns 8,881 shares of the company’s stock, valued at approximately $2,175,045.71. The trade was a 54.18 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Joseph Vaughn sold 2,300 shares of the business’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were 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 directly owns 9,197 shares of the company’s stock, valued at $2,252,253.33. The trade was a 20.01 % 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.

Wall Street Analyst Weigh In

PKG has been the subject of several recent research reports. StockNews.com downgraded Packaging Co. of America from a “buy” rating to a “hold” rating in a report on Wednesday, January 29th. Truist Financial restated a “buy” rating and issued a $265.00 price objective (down from $282.00) on shares of Packaging Co. of America in a report on Thursday, January 30th. Wells Fargo & Company decreased their price objective on Packaging Co. of America from $253.00 to $236.00 and set an “overweight” rating for the company in a report on Thursday, January 30th. Jefferies Financial Group upgraded Packaging Co. of America from a “hold” rating to a “buy” rating and lifted their target price for the company from $215.00 to $280.00 in a research note on Wednesday, December 18th. Finally, Citigroup lifted their target price on 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. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, Packaging Co. of America presently has a consensus rating of “Moderate Buy” and an average price target of $233.00.

Packaging Co. of America Price Performance

Shares of PKG stock opened at $209.37 on Tuesday. Packaging Co. of America has a fifty-two week low of $163.68 and a fifty-two week high of $250.82. The firm has a market capitalization of $18.80 billion, a price-to-earnings ratio of 23.45, a PEG ratio of 2.40 and a beta of 0.77. 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 stock’s 50-day simple moving average is $229.62 and its 200-day simple moving average is $221.35.

Packaging Co. of America (NYSE:PKG) last issued its quarterly 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 return on equity of 19.67% and a net margin of 9.60%. As a group, equities analysts forecast that Packaging Co. of America will post 10.6 earnings per share for the current fiscal year.

Packaging Co. of America Announces Dividend

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

Packaging Co. of America Profile

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.