Packaging Co. of America (NYSE:PKG) Shares Purchased by Hsbc Holdings PLC

Hsbc Holdings PLC boosted its stake in shares of Packaging Co. of America (NYSE:PKG) by 2.6% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 224,066 shares of the industrial products company’s stock after purchasing an additional 5,585 shares during the period. Hsbc Holdings PLC owned approximately 0.25% of Packaging Co. of America worth $41,012,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Boston Partners raised its position in shares of Packaging Co. of America by 49.3% in the 1st quarter. Boston Partners now owns 1,446,303 shares of the industrial products company’s stock worth $274,421,000 after buying an additional 477,487 shares during the period. Balyasny Asset Management L.P. raised its holdings in shares of Packaging Co. of America by 175.3% in the 4th quarter. Balyasny Asset Management L.P. now owns 438,285 shares of the industrial products company’s stock worth $71,401,000 after purchasing an additional 279,059 shares during the period. Goldman Sachs Group Inc. raised its holdings in shares of Packaging Co. of America by 31.9% in the 4th quarter. Goldman Sachs Group Inc. now owns 783,619 shares of the industrial products company’s stock worth $127,659,000 after purchasing an additional 189,401 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Packaging Co. of America by 8.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,153,732 shares of the industrial products company’s stock valued at $210,636,000 after purchasing an additional 86,005 shares in the last quarter. Finally, Earnest Partners LLC grew its holdings in shares of Packaging Co. of America by 31.7% during the 1st quarter. Earnest Partners LLC now owns 265,341 shares of the industrial products company’s stock worth $50,356,000 after purchasing an additional 63,942 shares during the period. Institutional investors and hedge funds own 89.78% of the company’s stock.

Insider Activity

In related news, SVP Donald R. Shirley sold 6,000 shares of the business’s stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $196.28, for a total value of $1,177,680.00. Following the completion of the sale, the senior vice president now directly owns 20,772 shares of the company’s stock, valued at $4,077,128.16. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, EVP Charles J. Carter sold 5,389 shares of the business’s stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $196.28, for a total transaction of $1,057,752.92. Following the completion of the sale, the executive vice president now owns 25,539 shares of the company’s stock, valued at approximately $5,012,794.92. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Donald R. Shirley sold 6,000 shares of Packaging Co. of America stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $196.28, for a total value of $1,177,680.00. Following the completion of the transaction, the senior vice president now owns 20,772 shares of the company’s stock, valued at $4,077,128.16. The disclosure for this sale can be found here. Company insiders own 1.60% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. StockNews.com raised shares of Packaging Co. of America from a “hold” rating to a “buy” rating in a research report on Thursday. Wells Fargo & Company lifted their target price on shares of Packaging Co. of America from $194.00 to $215.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. Citigroup increased their price target on Packaging Co. of America from $181.00 to $187.00 and gave the company a “neutral” rating in a report on Monday, July 8th. Bank of America boosted their price objective on Packaging Co. of America from $197.00 to $200.00 and gave the stock a “buy” rating in a research note on Monday, June 17th. Finally, Truist Financial increased their target price on Packaging Co. of America from $215.00 to $219.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, Packaging Co. of America currently has an average rating of “Moderate Buy” and an average target price of $190.50.

Packaging Co. of America Stock Down 1.3 %

Shares of NYSE PKG opened at $212.90 on Friday. The firm has a market cap of $19.12 billion, a price-to-earnings ratio of 26.61, a PEG ratio of 4.22 and a beta of 0.77. Packaging Co. of America has a 1 year low of $143.82 and a 1 year high of $217.69. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.71 and a current ratio of 2.43. The stock’s 50-day simple moving average is $199.87 and its 200-day simple moving average is $188.51.

Packaging Co. of America (NYSE:PKG) last announced its earnings results on Tuesday, July 23rd. The industrial products company reported $2.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.14 by $0.06. Packaging Co. of America had a return on equity of 18.21% and a net margin of 9.06%. The company had revenue of $2.08 billion for the quarter, compared to analyst estimates of $2.02 billion. During the same period in the prior year, the company posted $2.31 EPS. Packaging Co. of America’s quarterly revenue was up 6.3% on a year-over-year basis. As a group, equities analysts anticipate that Packaging Co. of America will post 8.72 earnings per share for the current fiscal year.

Packaging Co. of America Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 16th will be given a $1.25 dividend. This represents a $5.00 annualized dividend and a dividend yield of 2.35%. The ex-dividend date of this dividend is Monday, September 16th. Packaging Co. of America’s payout ratio is currently 62.50%.

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.