Dai ichi Life Insurance Company Ltd Trims Stock Position in Packaging Co. of America (NYSE:PKG)

Dai ichi Life Insurance Company Ltd reduced its holdings in Packaging Co. of America (NYSE:PKG - Free Report) by 15.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 29,693 shares of the industrial products company's stock after selling 5,500 shares during the period. Dai ichi Life Insurance Company Ltd's holdings in Packaging Co. of America were worth $6,396,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of PKG. Summit Financial Strategies Inc. raised its stake in Packaging Co. of America by 5.5% during the second quarter. Summit Financial Strategies Inc. now owns 234,495 shares of the industrial products company's stock worth $42,809,000 after purchasing an additional 12,129 shares during the period. DekaBank Deutsche Girozentrale raised its stake in Packaging Co. of America by 6.8% during the first quarter. DekaBank Deutsche Girozentrale now owns 224,273 shares of the industrial products company's stock worth $41,839,000 after purchasing an additional 14,277 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its stake in Packaging Co. of America by 227.5% during the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 32,243 shares of the industrial products company's stock worth $6,945,000 after purchasing an additional 22,397 shares during the period. M&G Plc purchased a new position in Packaging Co. of America during the second quarter worth about $840,000. Finally, Wealth Enhancement Advisory Services LLC raised its stake in Packaging Co. of America by 22.7% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 33,401 shares of the industrial products company's stock worth $6,098,000 after purchasing an additional 6,184 shares during the period. 89.78% of the stock is owned by hedge funds and other institutional investors.

Packaging Co. of America Stock Down 0.4 %

Shares of PKG stock traded down $0.98 during trading on Wednesday, reaching $247.05. The company's stock had a trading volume of 33,234 shares, compared to its average volume of 600,652. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.95 and a quick ratio of 1.98. The company has a market capitalization of $22.19 billion, a price-to-earnings ratio of 28.92, a P/E/G ratio of 3.47 and a beta of 0.76. The stock's 50-day moving average price is $225.48 and its 200 day moving average price is $203.08. Packaging Co. of America has a 1-year low of $156.87 and a 1-year high of $250.82.

Packaging Co. of America (NYSE:PKG - Get Free Report) last announced its quarterly earnings data on Tuesday, October 22nd. The industrial products company reported $2.65 earnings per share for the quarter, beating analysts' consensus estimates of $2.50 by $0.15. The firm had revenue of $2.18 billion during the quarter, compared to analysts' expectations of $2.09 billion. Packaging Co. of America had a net margin of 9.46% and a return on equity of 19.10%. The business's quarterly revenue was up 14.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.05 earnings per share. On average, research analysts anticipate that Packaging Co. of America will post 9.07 EPS for the current year.

Insider Activity at Packaging Co. of America

In other Packaging Co. of America news, Director Paul T. Stecko sold 10,500 shares of the business's stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $244.91, for a total transaction of $2,571,555.00. Following the completion of the transaction, the director now owns 8,881 shares in the company, valued at $2,175,045.71. The trade was a 54.18 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Robert P. Mundy sold 12,500 shares of the business's stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $240.62, for a total transaction of $3,007,750.00. Following the transaction, the chief financial officer now owns 43,954 shares of the company's stock, valued at $10,576,211.48. This trade represents a 22.14 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 31,000 shares of company stock worth $7,500,905. Corporate insiders own 1.70% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on PKG shares. Citigroup lifted 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. Wells Fargo & Company boosted their price target on shares of 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. Truist Financial reissued a "buy" rating and issued a $252.00 price target (up from $242.00) on shares of Packaging Co. of America in a research note on Thursday, October 24th. Finally, StockNews.com downgraded shares of Packaging Co. of America from a "buy" rating to a "hold" rating in a research note on Wednesday, November 20th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $221.60.

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.