MV Capital Management Inc. Trims Stock Position in Packaging Co. of America (NYSE:PKG)

MV Capital Management Inc. reduced its stake in Packaging Co. of America (NYSE:PKG) by 5.3% during the 1st quarter, HoldingsChannel reports. The firm owned 12,424 shares of the industrial products company’s stock after selling 693 shares during the period. MV Capital Management Inc.’s holdings in Packaging Co. of America were worth $2,358,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of the stock. Register Financial Advisors LLC purchased a new position in Packaging Co. of America in the 1st quarter valued at $25,000. Neo Ivy Capital Management purchased a new stake in shares of Packaging Co. of America in the fourth quarter valued at about $28,000. First Horizon Advisors Inc. increased its stake in shares of Packaging Co. of America by 60.5% during the fourth quarter. First Horizon Advisors Inc. now owns 183 shares of the industrial products company’s stock worth $30,000 after acquiring an additional 69 shares during the period. Gables Capital Management Inc. acquired a new position in shares of Packaging Co. of America during the fourth quarter worth about $31,000. Finally, Anchor Investment Management LLC purchased a new position in Packaging Co. of America during the fourth quarter worth about $37,000. Institutional investors and hedge funds own 89.78% of the company’s stock.

Packaging Co. of America Price Performance

Shares of PKG stock traded down $2.55 during mid-day trading on Tuesday, reaching $177.51. The stock had a trading volume of 905,290 shares, compared to its average volume of 635,791. The company has a market cap of $15.94 billion, a P/E ratio of 22.51, a price-to-earnings-growth ratio of 4.94 and a beta of 0.77. The company has a current ratio of 2.46, a quick ratio of 1.74 and a debt-to-equity ratio of 0.62. Packaging Co. of America has a 12-month low of $127.69 and a 12-month high of $191.39. The business has a 50-day simple moving average of $181.14 and a 200 day simple moving average of $176.60.

Packaging Co. of America (NYSE:PKG) last posted its earnings results on Tuesday, April 23rd. The industrial products company reported $1.72 earnings per share for the quarter, beating the consensus estimate of $1.63 by $0.09. The firm had revenue of $1.98 billion during the quarter, compared to the consensus estimate of $1.91 billion. Packaging Co. of America had a net margin of 9.25% and a return on equity of 18.80%. The firm’s revenue for the quarter 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 anticipate that Packaging Co. of America will post 8.33 earnings per share for the current year.

Packaging Co. of America Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 14th will be given a dividend of $1.25 per share. The ex-dividend date of this dividend is Friday, June 14th. This represents a $5.00 annualized dividend and a dividend yield of 2.82%. Packaging Co. of America’s dividend payout ratio is currently 62.50%.

Wall Street Analyst Weigh In

PKG has been the topic of several recent analyst reports. BNP Paribas cut 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. Bank of America increased their price objective on Packaging Co. of America from $197.00 to $200.00 and gave the stock a “buy” rating in a research report on Monday, June 17th. Citigroup decreased their target price on shares of Packaging Co. of America from $183.00 to $181.00 and set a “neutral” rating on the stock in a research report on Thursday, April 25th. Wells Fargo & Company upgraded shares of Packaging Co. of America from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $187.00 to $191.00 in a report on Wednesday, April 24th. Finally, StockNews.com upgraded shares of Packaging Co. of America from a “hold” rating to a “buy” rating in a research note on Tuesday, May 21st. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $183.67.

Insider Activity at Packaging Co. of America

In related news, Director Karen E. Gowland acquired 300 shares of the firm’s stock in a transaction that occurred on Wednesday, May 15th. The shares were acquired at an average price of $182.06 per share, with a total value of $54,618.00. Following the completion of the purchase, the director now directly owns 916 shares in the company, valued at $166,766.96. The purchase was disclosed in a document filed with the SEC, which is available through this link. 1.70% of the stock is owned by corporate insiders.

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.