Barclays PLC Cuts Position in Packaging Co. of America (NYSE:PKG)

Barclays PLC lessened its stake in shares of Packaging Co. of America (NYSE:PKG - Free Report) by 16.3% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 401,662 shares of the industrial products company's stock after selling 78,011 shares during the period. Barclays PLC owned approximately 0.45% of Packaging Co. of America worth $86,516,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Cetera Advisors LLC grew its position in Packaging Co. of America by 33.0% during the 1st quarter. Cetera Advisors LLC now owns 2,535 shares of the industrial products company's stock worth $481,000 after purchasing an additional 629 shares during the period. M&G Plc purchased a new position in Packaging Co. of America during the second quarter worth about $840,000. Wealth Enhancement Advisory Services LLC raised its position in shares of Packaging Co. of America by 22.7% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 33,401 shares of the industrial products company's stock valued at $6,098,000 after buying an additional 6,184 shares during the period. ORG Partners LLC acquired a new stake in Packaging Co. of America during the second quarter worth $81,000. Finally, Envestnet Portfolio Solutions Inc. lifted its position in Packaging Co. of America by 2.0% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 6,807 shares of the industrial products company's stock valued at $1,243,000 after buying an additional 135 shares during the last quarter. 89.78% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Packaging Co. of America

In related news, Director Paul T. Stecko sold 10,500 shares of the company's stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $244.91, for a total value of $2,571,555.00. Following the completion of the transaction, the director now directly owns 8,881 shares in the company, valued at approximately $2,175,045.71. This represents a 54.18 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 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 transaction, the senior vice president now 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. Over the last quarter, insiders sold 33,300 shares of company stock valued at $8,064,152. 1.60% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several analysts recently weighed in on PKG shares. Truist Financial reiterated a "buy" rating and issued a $252.00 target price (up previously from $242.00) on shares of Packaging Co. of America in a report on Thursday, October 24th. Citigroup upped their target price on shares of Packaging Co. of America from $199.00 to $221.00 and gave the stock a "neutral" rating in a research note on Wednesday, October 2nd. StockNews.com upgraded Packaging Co. of America from a "hold" rating to a "buy" rating in a research note on Tuesday, December 3rd. Finally, Wells Fargo & Company boosted their price objective on shares of Packaging Co. of America from $235.00 to $253.00 and gave the stock an "overweight" rating in a research report on Thursday, October 24th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $221.60.

Packaging Co. of America Stock Performance

NYSE PKG traded up $0.39 during trading on Thursday, reaching $239.03. The company's stock had a trading volume of 433,576 shares, compared to its average volume of 601,475. Packaging Co. of America has a twelve month low of $159.57 and a twelve month high of $250.82. The firm has a market cap of $21.47 billion, a price-to-earnings ratio of 27.81, a P/E/G ratio of 3.41 and a beta of 0.77. The business's fifty day moving average price is $232.58 and its 200-day moving average price is $208.15. 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 (NYSE:PKG - Get Free Report) last issued its quarterly earnings results on Tuesday, October 22nd. The industrial products company reported $2.65 earnings per share for the quarter, topping the consensus estimate of $2.50 by $0.15. The firm had revenue of $2.18 billion during the quarter, compared to the consensus estimate of $2.09 billion. Packaging Co. of America had a return on equity of 19.10% and a net margin of 9.46%. The company's revenue for the quarter was up 14.9% on a year-over-year basis. During the same period last year, the company earned $2.05 earnings per share. As a group, analysts anticipate that Packaging Co. of America will post 9.07 EPS for the current fiscal year.

Packaging Co. of America Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Friday, December 20th will be issued a $1.25 dividend. The ex-dividend date of this dividend is Friday, December 20th. This represents a $5.00 annualized dividend and a dividend yield of 2.09%. Packaging Co. of America's dividend payout ratio is currently 58.28%.

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.