Tredje AP fonden Trims Position in Packaging Co. of America (NYSE:PKG)

Tredje AP fonden lowered its holdings in Packaging Co. of America (NYSE:PKG) by 1.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,082 shares of the industrial products company’s stock after selling 78 shares during the period. Tredje AP fonden’s holdings in Packaging Co. of America were worth $928,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Victory Capital Management Inc. grew its holdings in Packaging Co. of America by 1.5% in 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 buying an additional 41,903 shares during the period. FIL Ltd grew its holdings in Packaging Co. of America by 2.6% in the fourth quarter. FIL Ltd now owns 2,210,000 shares of the industrial products company’s stock valued at $360,031,000 after purchasing an additional 55,000 shares during the period. Boston Partners grew its holdings in Packaging Co. of America by 49.3% in the first quarter. Boston Partners now owns 1,446,303 shares of the industrial products company’s stock valued at $274,421,000 after purchasing an additional 477,487 shares during the period. Northern Trust Corp increased its position in Packaging Co. of America by 2.4% during the fourth quarter. Northern Trust Corp now owns 1,182,797 shares of the industrial products company’s stock worth $192,689,000 after purchasing an additional 27,974 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in Packaging Co. of America by 8.1% during 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 during the period. 89.78% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Packaging Co. of America Price Performance

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

Packaging Co. of America (NYSE:PKG) last issued its quarterly earnings data on Tuesday, July 23rd. The industrial products company reported $2.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.14 by $0.06. Packaging Co. of America had a net margin of 9.06% and a return on equity of 18.21%. The company had revenue of $2.08 billion during the quarter, compared to the consensus estimate of $2.02 billion. During the same quarter last year, the company earned $2.31 earnings per share. Packaging Co. of America’s revenue for the quarter was up 6.3% on a year-over-year basis. On average, equities analysts predict that Packaging Co. of America will post 8.72 earnings per share for the current fiscal year.

Packaging Co. of America Announces Dividend

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

Insider Buying and Selling at Packaging Co. of America

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

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. 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.