Fri Sep 20 12:30:27 UTC 2024: ## Institutional Investors Show Strong Interest in Packaging Co. of America (PKG)

**New York, NY** – Moors & Cabot Inc. increased its stake in Packaging Co. of America (PKG) by 2.1% in the second quarter, according to a recent SEC filing. The investment firm now owns 2,689 shares of the industrial products company, valued at $491,000. This move reflects a broader trend among institutional investors, with several others adjusting their holdings in PKG during recent quarters.

**Other Institutional Activity:**

* CANADA LIFE ASSURANCE Co. raised its position in PKG by 4.6% in the first quarter, now owning 70,689 shares worth $13,419,000.
* Mitsubishi UFJ Trust & Banking Corp. boosted its stake in PKG by 30.4% in the first quarter, now owning 90,686 shares worth $17,168,000.
* Cim LLC acquired a new position in PKG in the fourth quarter valued at approximately $2,003,000.
* Summit Financial Strategies Inc. increased its holdings in PKG by 5.5% in the second quarter, now owning 234,495 shares valued at $42,809,000.
* AXS Investments LLC bought a new position in PKG during the fourth quarter valued at about $766,000.

Overall, hedge funds and institutional investors own 89.78% of PKG stock, demonstrating significant confidence in the company’s future prospects.

**PKG Stock Performance:**

Shares of Packaging Co. of America opened at $215.58 on Friday. The company has a market cap of $19.36 billion and a price-to-earnings ratio of 26.95.

**Analyst Ratings:**

Several analysts have recently weighed in on PKG, with a consensus rating of “Moderate Buy” and a consensus target price of $190.50.

**Dividends and Insider Transactions:**

Packaging Co. of America announced a quarterly dividend of $1.25, payable on October 15th to shareholders of record on September 16th. The ex-dividend date is September 16th.

Recent insider transactions include the sale of shares by EVP Charles J. Carter and SVP Donald R. Shirley. Insiders currently own 1.60% 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.

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