Maj Invest Holding A S Sells 428,677 Shares of Packaging Co. of America (NYSE:PKG)

Maj Invest Holding A S cut its position in Packaging Co. of America (NYSE:PKG) by 58.7% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 301,140 shares of the industrial products company’s stock after selling 428,677 shares during the quarter. Packaging Co. of America makes up approximately 2.2% of Maj Invest Holding A S’s investment portfolio, making the stock its 20th largest holding. Maj Invest Holding A S’s holdings in Packaging Co. of America were worth $67,795,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. Central Pacific Bank Trust Division bought a new position in shares of Packaging Co. of America during the 3rd quarter worth approximately $32,000. Fortitude Family Office LLC increased its position in shares of Packaging Co. of America by 150.8% during the fourth quarter. Fortitude Family Office LLC now owns 163 shares of the industrial products company’s stock worth $37,000 after purchasing an additional 98 shares in the last quarter. Larson Financial Group LLC increased its position in shares of Packaging Co. of America by 234.7% during the third quarter. Larson Financial Group LLC now owns 164 shares of the industrial products company’s stock worth $35,000 after purchasing an additional 115 shares in the last quarter. Assetmark Inc. boosted its position in shares of Packaging Co. of America by 44.6% in the 3rd quarter. Assetmark Inc. now owns 269 shares of the industrial products company’s stock worth $58,000 after purchasing an additional 83 shares in the last quarter. Finally, Brooklyn Investment Group purchased a new position in Packaging Co. of America during the 3rd quarter worth $64,000. 89.78% of the stock is owned by hedge funds and other institutional investors.

Packaging Co. of America Price Performance

NYSE:PKG opened at $240.08 on Monday. The firm’s fifty day moving average is $235.85 and its two-hundred day moving average is $219.31. The firm has a market cap of $21.56 billion, a price-to-earnings ratio of 27.98, a PEG ratio of 2.36 and a beta of 0.79. 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 one year low of $159.57 and a one year high of $250.82.

Packaging Co. of America Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Friday, December 20th were paid a $1.25 dividend. The ex-dividend date of this dividend was Friday, December 20th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.08%. Packaging Co. of America’s payout ratio is 58.28%.

Insider Buying and Selling

In other Packaging Co. of America news, SVP Donald R. Shirley sold 8,000 shares of the company’s stock in a transaction dated Tuesday, November 12th. The shares were 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 approximately $3,777,145. This represents a 33.72 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Joseph Vaughn sold 2,300 shares of the stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $244.89, for a total transaction of $563,247.00. Following the sale, the senior vice president now directly owns 9,197 shares in the company, valued at approximately $2,252,253.33. The trade was a 20.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 33,300 shares of company stock valued at $8,064,152 over the last ninety days. Company insiders own 1.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. Truist Financial upped their target price on Packaging Co. of America from $252.00 to $282.00 and gave the company a “buy” rating in a research report on Monday, January 6th. Wells Fargo & Company lifted their target price on shares of Packaging Co. of America from $235.00 to $253.00 and gave the stock an “overweight” rating in a research note on Thursday, October 24th. Jefferies Financial Group upgraded shares of Packaging Co. of America from a “hold” rating to a “buy” rating and upped their price target for the company from $215.00 to $280.00 in a research note on Wednesday, December 18th. StockNews.com upgraded shares of Packaging Co. of America from a “hold” rating to a “buy” rating in a research note on Tuesday, December 24th. Finally, Citigroup upped their target price on Packaging Co. of America from $232.00 to $235.00 and gave the company a “neutral” rating in a research report on Monday, January 6th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, Packaging Co. of America presently has an average rating of “Moderate Buy” and an average price target of $238.67.

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.