Packaging Co. of America (NYSE:PKG) Holdings Decreased by KBC Group NV

KBC Group NV trimmed its holdings in Packaging Co. of America (NYSE:PKG - Free Report) by 5.4% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 90,727 shares of the industrial products company's stock after selling 5,176 shares during the period. KBC Group NV owned about 0.10% of Packaging Co. of America worth $19,543,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in PKG. Asset Dedication LLC increased its holdings in Packaging Co. of America by 200.0% in the second quarter. Asset Dedication LLC now owns 168 shares of the industrial products company's stock valued at $31,000 after buying an additional 112 shares during the last quarter. Central Pacific Bank Trust Division bought a new stake in shares of Packaging Co. of America in the 3rd quarter valued at approximately $32,000. Tortoise Investment Management LLC bought a new stake in shares of Packaging Co. of America in the 2nd quarter valued at approximately $33,000. Headlands Technologies LLC bought a new position in shares of Packaging Co. of America in the 1st quarter worth about $43,000. Finally, Strategic Financial Concepts LLC acquired a new position in shares of Packaging Co. of America in the 2nd quarter valued at about $50,000. 89.78% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, SVP Donald R. Shirley sold 8,000 shares of the business's stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $240.20, for a total transaction of $1,921,600.00. Following the sale, the senior vice president now directly owns 15,725 shares of the company's stock, valued at $3,777,145. The trade was a 33.72 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Robert P. Mundy sold 12,500 shares of the company's stock in a transaction on Friday, November 8th. The shares were sold at an average price of $240.62, for a total value of $3,007,750.00. Following the sale, the chief financial officer now directly owns 43,954 shares of the company's stock, valued at approximately $10,576,211.48. This represents a 22.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.60% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts have issued reports on PKG shares. Truist Financial reissued 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 raised their price target on Packaging Co. of America from $199.00 to $221.00 and gave the stock a "neutral" rating in a report on Wednesday, October 2nd. Wells Fargo & Company upped their price objective on Packaging Co. of America from $235.00 to $253.00 and gave the stock an "overweight" rating in a research note on Thursday, October 24th. Finally, StockNews.com raised Packaging Co. of America from a "hold" rating to a "buy" rating in a research report on Tuesday. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $221.60.

Packaging Co. of America Price Performance

PKG stock traded up $0.21 during trading on Friday, hitting $235.81. The company had a trading volume of 583,602 shares, compared to its average volume of 600,704. The business has a 50 day moving average of $221.23 and a 200 day moving average of $200.12. The firm has a market capitalization of $21.18 billion, a price-to-earnings ratio of 27.48, a P/E/G ratio of 3.35 and a beta of 0.76. The company has a current ratio of 2.95, a quick ratio of 1.98 and a debt-to-equity ratio of 0.58. Packaging Co. of America has a fifty-two week low of $148.50 and a fifty-two week high of $245.00.

Packaging Co. of America (NYSE:PKG - Get Free Report) last posted its quarterly earnings data on Tuesday, October 22nd. The industrial products company reported $2.65 EPS for the quarter, beating analysts' consensus estimates of $2.50 by $0.15. The business had revenue of $2.18 billion for the quarter, compared to analyst estimates 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 revenue for the quarter was up 14.9% on a year-over-year basis. During the same quarter last year, the business earned $2.05 earnings per share. As a group, research analysts predict that Packaging Co. of America will post 9.07 earnings per share for the current year.

Packaging Co. of America Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Tuesday, October 15th were paid a dividend of $1.25 per share. The ex-dividend date was Monday, September 16th. This represents a $5.00 annualized dividend and a yield of 2.12%. Packaging Co. of America's dividend payout ratio is currently 58.28%.

Packaging Co. of America Company 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.