Los Angeles Capital Management LLC Sells 28,733 Shares of Packaging Co. of America (NYSE:PKG)

Los Angeles Capital Management LLC trimmed its holdings in shares of Packaging Co. of America (NYSE:PKG - Free Report) by 34.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 55,239 shares of the industrial products company's stock after selling 28,733 shares during the period. Los Angeles Capital Management LLC owned about 0.06% of Packaging Co. of America worth $11,898,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. CANADA LIFE ASSURANCE Co lifted its holdings in shares of Packaging Co. of America by 4.6% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 70,689 shares of the industrial products company's stock worth $13,419,000 after acquiring an additional 3,078 shares during the period. Mitsubishi UFJ Trust & Banking Corp increased its holdings in Packaging Co. of America by 30.4% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 90,686 shares of the industrial products company's stock valued at $17,168,000 after purchasing an additional 21,143 shares during the period. Summit Financial Strategies Inc. increased its position in shares of 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 acquiring an additional 12,129 shares in the last quarter. DekaBank Deutsche Girozentrale increased its stake in shares of Packaging Co. of America by 6.8% in 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 in the last quarter. Finally, State Board of Administration of Florida Retirement System lifted its position in Packaging Co. of America by 10.7% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 108,959 shares of the industrial products company's stock worth $20,678,000 after buying an additional 10,516 shares during the last quarter. 89.78% of the stock is owned by institutional investors and hedge funds.

Packaging Co. of America Stock Down 0.3 %

Shares of NYSE:PKG traded down $0.81 during midday trading on Tuesday, hitting $240.68. The stock had a trading volume of 170,214 shares, compared to its average volume of 599,377. The company has a market cap of $21.62 billion, a P/E ratio of 28.15, a PEG ratio of 3.40 and a beta of 0.76. The company has a quick ratio of 1.71, a current ratio of 2.43 and a debt-to-equity ratio of 0.60. Packaging Co. of America has a 12 month low of $148.50 and a 12 month high of $245.00. The business's 50-day simple moving average is $218.57 and its 200-day simple moving average is $198.53.

Packaging Co. of America (NYSE:PKG - Get Free Report) last announced its quarterly earnings results on Tuesday, October 22nd. The industrial products company reported $2.65 earnings per share for the quarter, beating the consensus estimate of $2.50 by $0.15. The company had revenue of $2.18 billion during the quarter, compared to analysts' expectations of $2.09 billion. Packaging Co. of America had a return on equity of 19.35% and a net margin of 9.46%. The firm's quarterly revenue was up 14.9% compared to the same quarter last year. During the same period in the previous year, the business earned $2.05 earnings per share. On average, sell-side analysts forecast that Packaging Co. of America will post 9.07 earnings per share for the current fiscal 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 given a $1.25 dividend. The ex-dividend date was Monday, September 16th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.08%. Packaging Co. of America's dividend payout ratio is currently 58.28%.

Insider Buying and Selling

In other news, CFO Robert P. Mundy sold 12,500 shares of the business's stock in a transaction dated 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 completion of the transaction, the chief financial officer now directly owns 43,954 shares of the company's stock, valued at approximately $10,576,211.48. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.60% of the stock is owned by insiders.

Analyst Ratings Changes

Several research firms recently weighed in on PKG. Citigroup increased their price target on Packaging Co. of America from $199.00 to $221.00 and gave the company a "neutral" rating in a report on Wednesday, October 2nd. StockNews.com cut Packaging Co. of America from a "buy" rating to a "hold" rating in a research report on Friday, November 1st. Truist Financial restated a "buy" rating and issued a $252.00 target price (up previously from $242.00) on shares of Packaging Co. of America in a research report on Thursday, October 24th. Finally, 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 report on Thursday, October 24th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $221.60.

About Packaging Co. of America

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.