Packaging Co. of America (NYSE:PKG) Stock Holdings Boosted by Toronto Dominion Bank

Toronto Dominion Bank increased its position in Packaging Co. of America (NYSE:PKG) by 1.4% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 44,122 shares of the industrial products company’s stock after acquiring an additional 627 shares during the period. Toronto Dominion Bank’s holdings in Packaging Co. of America were worth $9,504,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of PKG. State Street Corp increased its stake in shares of Packaging Co. of America by 3.2% in the third quarter. State Street Corp now owns 3,948,546 shares of the industrial products company’s stock valued at $855,212,000 after purchasing an additional 123,050 shares during the period. Charles Schwab Investment Management Inc. increased its position in Packaging Co. of America by 3.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,937,113 shares of the industrial products company’s stock valued at $632,654,000 after acquiring an additional 98,223 shares during the period. Victory Capital Management Inc. raised its stake in Packaging Co. of America by 1.5% during the 2nd quarter. Victory Capital Management Inc. now owns 2,853,417 shares of the industrial products company’s stock valued at $520,920,000 after acquiring an additional 41,903 shares in the last quarter. Geode Capital Management LLC boosted its position in Packaging Co. of America by 0.6% during the 3rd quarter. Geode Capital Management LLC now owns 2,337,296 shares of the industrial products company’s stock worth $501,896,000 after acquiring an additional 12,936 shares during the period. Finally, Dimensional Fund Advisors LP grew its stake in shares of Packaging Co. of America by 8.1% in the second quarter. Dimensional Fund Advisors LP now owns 1,153,732 shares of the industrial products company’s stock worth $210,636,000 after purchasing an additional 86,005 shares in the last quarter. 89.78% of the stock is currently owned by institutional investors.

Packaging Co. of America Price Performance

Shares of Packaging Co. of America stock opened at $238.21 on Friday. Packaging Co. of America has a 52 week low of $159.57 and a 52 week high of $250.82. The company has a current ratio of 2.95, a quick ratio of 1.98 and a debt-to-equity ratio of 0.58. The company’s 50-day moving average price is $233.62 and its two-hundred day moving average price is $208.74. The stock has a market cap of $21.39 billion, a PE ratio of 27.76, a price-to-earnings-growth ratio of 3.35 and a beta of 0.77.

Packaging Co. of America (NYSE:PKG) last released its earnings results on Tuesday, October 22nd. The industrial products company reported $2.65 EPS for the quarter, topping analysts’ consensus estimates of $2.50 by $0.15. The business had revenue of $2.18 billion for the quarter, compared to the consensus estimate of $2.09 billion. Packaging Co. of America had a net margin of 9.46% and a return on equity of 19.10%. The business’s revenue for the quarter was up 14.9% on a year-over-year basis. During the same period in the previous year, the firm earned $2.05 EPS. As a group, sell-side analysts anticipate that Packaging Co. of America will post 9.07 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 Wednesday, January 15th. Stockholders of record on Friday, December 20th will be paid a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a dividend yield of 2.10%. The ex-dividend date of this dividend is Friday, December 20th. Packaging Co. of America’s dividend payout ratio is presently 58.28%.

Wall Street Analyst Weigh In

PKG has been the topic of a number of recent analyst reports. Citigroup lifted their price objective on shares of Packaging Co. of America from $199.00 to $221.00 and gave the company a “neutral” rating in a research note on Wednesday, October 2nd. Truist Financial restated a “buy” rating and set a $252.00 price target (up from $242.00) on shares of Packaging Co. of America in a research report on Thursday, October 24th. Wells Fargo & Company increased their price objective on shares of Packaging Co. of America from $235.00 to $253.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. Finally, StockNews.com upgraded shares of Packaging Co. of America from a “hold” rating to a “buy” rating in a research note on Saturday. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $221.60.

Insider Buying and Selling

In related news, SVP Donald R. Shirley sold 8,000 shares of the stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $240.20, for a total value of $1,921,600.00. Following the completion of the transaction, the senior vice president now owns 15,725 shares in the company, valued at $3,777,145. This trade represents a 33.72 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Robert P. Mundy sold 12,500 shares of the business’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $240.62, for a total value of $3,007,750.00. Following the sale, the chief financial officer now owns 43,954 shares in the company, valued at approximately $10,576,211.48. The trade was a 22.14 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 33,300 shares of company stock worth $8,064,152 in the last three months. 1.60% of the stock is currently owned by insiders.

Packaging Co. of America Company Profile

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.