Truist Financial Corp Purchases 1,122 Shares of Packaging Co. of America (NYSE:PKG)

Truist Financial Corp increased its holdings in Packaging Co. of America (NYSE:PKG) by 4.8% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 24,351 shares of the industrial products company’s stock after purchasing an additional 1,122 shares during the period. Truist Financial Corp’s holdings in Packaging Co. of America were worth $5,482,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of PKG. SYM FINANCIAL Corp boosted its holdings in shares of Packaging Co. of America by 3.1% in the 4th quarter. SYM FINANCIAL Corp now owns 1,405 shares of the industrial products company’s stock worth $316,000 after purchasing an additional 42 shares during the period. Mather Group LLC. boosted its stake in Packaging Co. of America by 1.7% during the fourth quarter. Mather Group LLC. now owns 2,586 shares of the industrial products company’s stock worth $582,000 after buying an additional 43 shares during the period. UMB Bank n.a. increased its position in Packaging Co. of America by 3.9% during the fourth quarter. UMB Bank n.a. now owns 1,165 shares of the industrial products company’s stock valued at $262,000 after acquiring an additional 44 shares during the last quarter. Deseret Mutual Benefit Administrators grew its holdings in Packaging Co. of America by 15.2% during the 3rd quarter. Deseret Mutual Benefit Administrators now owns 371 shares of the industrial products company’s stock valued at $80,000 after purchasing an additional 49 shares during the last quarter. Finally, AlphaMark Advisors LLC grew its stake in shares of Packaging Co. of America by 3.9% during the fourth quarter. AlphaMark Advisors LLC now owns 1,384 shares of the industrial products company’s stock valued at $312,000 after buying an additional 52 shares during the last quarter. Hedge funds and other institutional investors own 89.78% of the company’s stock.

Packaging Co. of America Price Performance

Shares of PKG opened at $208.19 on Monday. The stock has a market capitalization of $18.70 billion, a PE ratio of 23.31, a PEG ratio of 2.41 and a beta of 0.77. The company has a 50 day moving average price of $224.09 and a 200-day moving average price of $222.20. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.98 and a current ratio of 2.95. Packaging Co. of America has a fifty-two week low of $169.00 and a fifty-two week high of $250.82.

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 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%. Equities analysts predict that Packaging Co. of America will post 10.44 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. Shareholders of record on Friday, December 20th were issued a $1.25 dividend. The ex-dividend date was Friday, December 20th. This represents a $5.00 dividend on an annualized basis and a yield of 2.40%. Packaging Co. of America’s dividend payout ratio is presently 55.99%.

Insider Buying and Selling at Packaging Co. of America

In related news, 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 transaction 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. The trade was a 20.01 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 1.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on PKG shares. StockNews.com lowered Packaging Co. of America from a “buy” rating to a “hold” rating in a research note on Wednesday, January 29th. Truist Financial reiterated a “buy” rating and set a $265.00 target price (down from $282.00) on shares of Packaging Co. of America in a research report on Thursday, January 30th. Seaport Res Ptn upgraded shares of Packaging Co. of America from a “hold” rating to a “strong-buy” rating in a report on Thursday, February 13th. Citigroup lifted their price objective on shares of Packaging Co. of America from $232.00 to $235.00 and gave the company a “neutral” rating in a report on Monday, January 6th. Finally, Wells Fargo & Company dropped their target price on shares of Packaging Co. of America from $253.00 to $236.00 and set an “overweight” rating on the stock in a research note on Thursday, January 30th. Three equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $233.00.

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.