Packaging Co. of America (NYSE:PKG) Shares Sold by BDF Gestion

BDF Gestion lessened its holdings in shares of Packaging Co. of America (NYSE:PKG) by 11.5% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 10,785 shares of the industrial products company’s stock after selling 1,402 shares during the period. BDF Gestion’s holdings in Packaging Co. of America were worth $2,428,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Public Sector Pension Investment Board increased its position in Packaging Co. of America by 66.4% during the second quarter. Public Sector Pension Investment Board now owns 3,330 shares of the industrial products company’s stock worth $608,000 after buying an additional 1,329 shares during the period. Creative Planning increased its position in Packaging Co. of America by 7.5% during the second quarter. Creative Planning now owns 16,308 shares of the industrial products company’s stock worth $2,977,000 after buying an additional 1,137 shares during the period. NewEdge Advisors LLC increased its holdings in shares of Packaging Co. of America by 11.7% in the second quarter. NewEdge Advisors LLC now owns 10,847 shares of the industrial products company’s stock valued at $1,980,000 after purchasing an additional 1,138 shares during the period. Quarry LP increased its holdings in shares of Packaging Co. of America by 95.9% in the second quarter. Quarry LP now owns 521 shares of the industrial products company’s stock valued at $95,000 after purchasing an additional 255 shares during the period. Finally, B. Riley Wealth Advisors Inc. increased its holdings in shares of Packaging Co. of America by 3.0% in the second quarter. B. Riley Wealth Advisors Inc. now owns 3,772 shares of the industrial products company’s stock valued at $693,000 after purchasing an additional 111 shares during the period. Institutional investors and hedge funds own 89.78% of the company’s stock.

Insider Activity at Packaging Co. of America

In other Packaging Co. of America news, Director Paul T. Stecko sold 10,500 shares of the company’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $244.91, for a total transaction of $2,571,555.00. Following the completion of the sale, the director now directly owns 8,881 shares in the company, valued at $2,175,045.71. This represents a 54.18 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Donald R. Shirley sold 8,000 shares of the company’s stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $240.20, for a total value of $1,921,600.00. Following the sale, the senior vice president now owns 15,725 shares of the company’s stock, valued at $3,777,145. This represents a 33.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 33,300 shares of company stock worth $8,064,152. 1.60% of the stock is currently owned by insiders.

Packaging Co. of America Stock Down 9.7 %

Shares of NYSE:PKG opened at $215.17 on Thursday. The company has a quick ratio of 1.98, a current ratio of 2.95 and a debt-to-equity ratio of 0.58. Packaging Co. of America has a 52-week low of $159.57 and a 52-week high of $250.82. The stock’s fifty day simple moving average is $235.31 and its 200-day simple moving average is $220.05. The company has a market capitalization of $19.32 billion, a P/E ratio of 25.08, a P/E/G ratio of 2.36 and a beta of 0.79.

Packaging Co. of America (NYSE:PKG) last issued its quarterly earnings data on Tuesday, January 28th. The industrial products company reported $2.47 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.51 by ($0.04). Packaging Co. of America had a net margin of 9.46% and a return on equity of 19.10%. As a group, equities research analysts forecast that Packaging Co. of America will post 9.08 earnings per share for the current fiscal year.

Packaging Co. of America Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors 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 annualized dividend and a yield of 2.32%. Packaging Co. of America’s payout ratio is currently 58.28%.

Wall Street Analysts Forecast Growth

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

About Packaging Co. of America

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.