Packaging Corporation of America $PKG Shares Bought by Aberdeen Group plc

Aberdeen Group plc grew its position in Packaging Corporation of America (NYSE:PKG) by 1,620.8% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 734,812 shares of the industrial products company’s stock after purchasing an additional 692,111 shares during the period. Aberdeen Group plc’s holdings in Packaging Corporation of America were worth $168,463,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. John Boyer Inc. acquired a new stake in shares of Packaging Corporation of America during the 3rd quarter valued at about $28,000. Fiduciary Financial Advisors acquired a new stake in shares of Packaging Corporation of America in the second quarter worth about $36,000. Keating Financial Advisory Services Inc. bought a new stake in shares of Packaging Corporation of America during the 2nd quarter worth about $41,000. Elevated Capital Advisors LLC boosted its stake in shares of Packaging Corporation of America by 900.0% during the 3rd quarter. Elevated Capital Advisors LLC now owns 170 shares of the industrial products company’s stock worth $39,000 after acquiring an additional 153 shares in the last quarter. Finally, Oslo Pensjonsforsikring AS bought a new stake in shares of Packaging Corporation of America during the 1st quarter worth about $41,000. 89.78% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages recently weighed in on PKG. JPMorgan Chase & Co. raised their price objective on Packaging Corporation of America from $320.00 to $322.00 and gave the company an “overweight” rating in a research note on Friday, October 23rd. UBS Group decreased their target price on Packaging Corporation of America from $292.00 to $289.00 and set a “buy” rating for the company in a research report on Monday, October 5th. Truist Financial reiterated a “buy” rating and set a $294.00 price target (up from $280.00) on shares of Packaging Corporation of America in a report on Friday, October 23rd. Weiss Ratings upgraded shares of Packaging Corporation of America from a “buy (b-)” rating to a “buy (b)” rating in a research note on Tuesday, October 27th. Finally, Citigroup boosted their price objective on shares of Packaging Corporation of America from $253.00 to $262.00 and gave the stock a “neutral” rating in a research note on Monday, October 26th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, Packaging Corporation of America presently has a consensus rating of “Moderate Buy” and an average target price of $275.43.

Insider Activity

In other news, VP Donald Shirley sold 12,000 shares of the firm’s stock in a transaction dated Thursday, August 20th. The shares were sold at an average price of $250.71, for a total transaction of $3,008,520.00. Following the completion of the transaction, the vice president directly owned 19,110 shares of the company’s stock, valued at approximately $4,791,068.10. This trade represents a 38.57% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.60% of the company’s stock.

Packaging Corporation of America Price Performance

Shares of NYSE:PKG opened at $251.18 on Friday. The firm has a market capitalization of $22.38 billion, a PE ratio of 30.93, a PEG ratio of 1.88 and a beta of 0.76. The company has a current ratio of 2.87, a quick ratio of 1.82 and a debt-to-equity ratio of 0.83. Packaging Corporation of America has a 1-year low of $191.50 and a 1-year high of $262.59. The business’s 50 day moving average is $239.96 and its 200-day moving average is $231.10.

Packaging Corporation of America (NYSE:PKG) last issued its earnings results on Wednesday, October 21st. The industrial products company reported $3.04 EPS for the quarter, beating analysts’ consensus estimates of $2.93 by $0.11. The business had revenue of $2.60 billion during the quarter, compared to analyst estimates of $2.61 billion. Packaging Corporation of America had a return on equity of 19.43% and a net margin of 7.40%. Packaging Corporation of America’s revenue was up 12.5% on a year-over-year basis. During the same period in the prior year, the company posted $2.73 earnings per share. Sell-side analysts predict that Packaging Corporation of America will post 10.59 earnings per share for the current year.

Packaging Corporation of America Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 15th. Stockholders of record on Tuesday, September 15th were paid a $1.50 dividend. The ex-dividend date was Tuesday, September 15th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.4%. Packaging Corporation of America’s dividend payout ratio is currently 73.89%.

Packaging Corporation of America Company Profile

Packaging Corporation of America (PCA) manufactures containerboard and corrugated packaging. Its packaging products include shipping boxes, retail displays and other protective packaging used to move and present goods. The company operates mills that produce containerboard and facilities that convert it into corrugated products. PCA also makes and sells paper products, including communication and specialty papers. Founded in 1999 as a spin-off from Tenneco, PCA is based in Lake Forest, Illinois, and serves customers primarily in the United States through a network of mills and packaging plants.