KBC Group NV lowered its position in Packaging Corp Of America (NYSE:PKG) by 6.7% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 10,204 shares of the industrial products company’s stock after selling 732 shares during the quarter. KBC Group NV’s holdings in Packaging Corp Of America were worth $973,000 as of its most recent SEC filing.
Other institutional investors have also recently modified their holdings of the company. Citizens Financial Group Inc RI acquired a new position in shares of Packaging Corp Of America in the 1st quarter valued at $32,000. Steward Partners Investment Advisory LLC acquired a new position in Packaging Corp Of America in the 2nd quarter valued at $35,000. Cullen Frost Bankers Inc. purchased a new stake in shares of Packaging Corp Of America during the 1st quarter worth $52,000. Zions Bancorporation N.A. purchased a new stake in shares of Packaging Corp Of America during the 1st quarter worth $66,000. Finally, Rockefeller Capital Management L.P. boosted its position in shares of Packaging Corp Of America by 287.4% in the 1st quarter. Rockefeller Capital Management L.P. now owns 895 shares of the industrial products company’s stock worth $89,000 after buying an additional 664 shares in the last quarter. Institutional investors own 88.27% of the company’s stock.
In other news, SVP Donald R. Shirley sold 5,000 shares of Packaging Corp Of America stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $101.48, for a total value of $507,400.00. Following the completion of the transaction, the senior vice president now directly owns 12,790 shares of the company’s stock, valued at approximately $1,297,929.20. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Thomas W.H. Walton sold 6,000 shares of Packaging Corp Of America stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $100.17, for a total value of $601,020.00. Following the completion of the transaction, the senior vice president now directly owns 34,118 shares of the company’s stock, valued at $3,417,600.06. The disclosure for this sale can be found here. Company insiders own 1.20% of the company’s stock.
Shares of PKG stock traded up $1.75 on Friday, hitting $108.78. 4,860 shares of the stock were exchanged, compared to its average volume of 678,640. The company has a current ratio of 3.29, a quick ratio of 2.18 and a debt-to-equity ratio of 0.92. The firm has a market capitalization of $10.28 billion, a P/E ratio of 13.57, a price-to-earnings-growth ratio of 2.71 and a beta of 1.71. The business has a 50-day moving average of $100.81 and a 200 day moving average of $98.10. Packaging Corp Of America has a fifty-two week low of $77.90 and a fifty-two week high of $118.88.
Packaging Corp Of America (NYSE:PKG) last issued its quarterly earnings results on Wednesday, July 24th. The industrial products company reported $2.04 EPS for the quarter, meeting the consensus estimate of $2.04. The firm had revenue of $1.76 billion during the quarter, compared to analysts’ expectations of $1.78 billion. Packaging Corp Of America had a return on equity of 29.23% and a net margin of 11.23%. The business’s quarterly revenue was down .4% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.08 earnings per share. As a group, research analysts forecast that Packaging Corp Of America will post 7.7 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Friday, September 13th will be issued a dividend of $0.79 per share. This represents a $3.16 annualized dividend and a dividend yield of 2.90%. The ex-dividend date is Thursday, September 12th. Packaging Corp Of America’s dividend payout ratio (DPR) is 39.35%.
Several research firms recently commented on PKG. ValuEngine upgraded shares of Packaging Corp Of America from a “hold” rating to a “buy” rating in a research report on Tuesday, August 6th. Seaport Global Securities lowered shares of Packaging Corp Of America from a “buy” rating to a “neutral” rating and set a $98.02 price objective on the stock. in a research report on Friday, July 12th. They noted that the move was a valuation call. KeyCorp lowered shares of Packaging Corp Of America from a “sector weight” rating to an “underweight” rating and set a $89.00 price objective on the stock. in a research report on Monday, July 15th. Finally, UBS Group set a $106.00 target price on shares of Packaging Corp Of America and gave the stock a “buy” rating in a research report on Monday, June 24th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the stock. Packaging Corp Of America currently has a consensus rating of “Hold” and a consensus price target of $100.09.
Packaging Corp Of America Company Profile
Packaging Corporation of America manufactures and sells containerboard and corrugated packaging products primarily in the United States. The company's Packaging segment offers various 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.
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