Packaging Co. of America (NYSE:PKG) Shares Sold by Corient Private Wealth LLC

Corient Private Wealth LLC decreased its position in Packaging Co. of America (NYSE:PKG) by 1.7% during the 4th quarter, Holdings Channel reports. The fund owned 142,408 shares of the industrial products company’s stock after selling 2,435 shares during the quarter. Corient Private Wealth LLC’s holdings in Packaging Co. of America were worth $23,200,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in PKG. Louisiana State Employees Retirement System acquired a new stake in Packaging Co. of America during the fourth quarter worth approximately $880,000. International Assets Investment Management LLC raised its holdings in Packaging Co. of America by 19,323.7% during the fourth quarter. International Assets Investment Management LLC now owns 30,301 shares of the industrial products company’s stock worth $4,936,000 after purchasing an additional 30,145 shares in the last quarter. AEGON ASSET MANAGEMENT UK Plc acquired a new stake in Packaging Co. of America during the fourth quarter worth approximately $16,338,000. Meiji Yasuda Asset Management Co Ltd. grew its position in shares of Packaging Co. of America by 60.4% during the third quarter. Meiji Yasuda Asset Management Co Ltd. now owns 5,020 shares of the industrial products company’s stock worth $771,000 after acquiring an additional 1,890 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC grew its position in shares of Packaging Co. of America by 90.2% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 13,431 shares of the industrial products company’s stock worth $2,188,000 after acquiring an additional 6,368 shares during the last quarter. Institutional investors and hedge funds own 89.78% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on PKG shares. StockNews.com upgraded shares of Packaging Co. of America from a “hold” rating to a “buy” rating in a research report on Tuesday. Bank of America upgraded shares of Packaging Co. of America from a “neutral” rating to a “buy” rating and raised their target price for the stock from $172.00 to $202.00 in a research report on Monday, March 4th. Wells Fargo & Company upgraded shares of Packaging Co. of America from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $187.00 to $191.00 in a research report on Wednesday, April 24th. Seaport Res Ptn lowered shares of Packaging Co. of America from a “buy” rating to a “neutral” rating in a research report on Monday, January 29th. Finally, BNP Paribas lowered shares of Packaging Co. of America from an “outperform” rating to a “neutral” rating and set a $182.00 target price on the stock. in a research report on Friday, April 12th. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Packaging Co. of America currently has a consensus rating of “Moderate Buy” and an average price target of $173.57.

Packaging Co. of America Stock Performance

NYSE:PKG opened at $180.24 on Friday. The firm’s fifty day moving average price is $181.81 and its 200 day moving average price is $171.86. Packaging Co. of America has a 1-year low of $122.20 and a 1-year high of $191.27. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.46 and a quick ratio of 1.74. The firm has a market cap of $16.19 billion, a price-to-earnings ratio of 22.53, a price-to-earnings-growth ratio of 7.75 and a beta of 0.80.

Packaging Co. of America (NYSE:PKG) last posted its quarterly earnings data on Tuesday, April 23rd. The industrial products company reported $1.72 earnings per share for the quarter, beating analysts’ consensus estimates of $1.63 by $0.09. The firm had revenue of $1.98 billion for the quarter, compared to analyst estimates of $1.91 billion. Packaging Co. of America had a net margin of 9.25% and a return on equity of 18.80%. Packaging Co. of America’s quarterly revenue was up .2% on a year-over-year basis. During the same period last year, the firm posted $2.20 EPS. On average, sell-side analysts expect that Packaging Co. of America will post 8.27 EPS for the current year.

Packaging Co. of America Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 14th will be given a dividend of $1.25 per share. The ex-dividend date is Friday, June 14th. This represents a $5.00 annualized dividend and a dividend yield of 2.77%. Packaging Co. of America’s payout ratio is currently 62.50%.

Insiders Place Their Bets

In other Packaging Co. of America news, VP Thomas A. Hassfurther sold 13,850 shares of the business’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $181.06, for a total transaction of $2,507,681.00. Following the sale, the vice president now directly owns 187,647 shares in the company, valued at approximately $33,975,365.82. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Packaging Co. of America news, VP Thomas A. Hassfurther sold 13,850 shares of the business’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $181.06, for a total transaction of $2,507,681.00. Following the sale, the vice president now directly owns 187,647 shares in the company, valued at approximately $33,975,365.82. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Robert P. Mundy sold 10,000 shares of the business’s stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $182.51, for a total transaction of $1,825,100.00. Following the sale, the chief financial officer now owns 46,454 shares in the company, valued at $8,478,319.54. The disclosure for this sale can be found here. Insiders own 1.60% of the company’s stock.

Packaging Co. of America 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.