Pacer Advisors Inc. Sells 10,394 Shares of Packaging Co. of America (NYSE:PKG)

Pacer Advisors Inc. reduced its holdings in Packaging Co. of America (NYSE:PKG - Free Report) by 40.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,040 shares of the industrial products company's stock after selling 10,394 shares during the period. Pacer Advisors Inc.'s holdings in Packaging Co. of America were worth $3,386,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of PKG. Stifel Financial Corp increased its position in Packaging Co. of America by 1,462.2% in the 3rd quarter. Stifel Financial Corp now owns 573,073 shares of the industrial products company's stock worth $123,440,000 after purchasing an additional 536,389 shares during the last quarter. International Assets Investment Management LLC increased its position in Packaging Co. of America by 41,151.7% in the 3rd quarter. International Assets Investment Management LLC now owns 155,519 shares of the industrial products company's stock worth $33,499,000 after purchasing an additional 155,142 shares during the last quarter. Two Sigma Advisers LP increased its position in Packaging Co. of America by 218.1% in the 3rd quarter. Two Sigma Advisers LP now owns 207,700 shares of the industrial products company's stock worth $44,739,000 after purchasing an additional 142,400 shares during the last quarter. Mizuho Securities USA LLC increased its position in Packaging Co. of America by 1,800.2% in the 3rd quarter. Mizuho Securities USA LLC now owns 130,583 shares of the industrial products company's stock worth $28,128,000 after purchasing an additional 123,711 shares during the last quarter. Finally, State Street Corp increased its position in Packaging Co. of America by 3.2% in the 3rd quarter. State Street Corp now owns 3,948,546 shares of the industrial products company's stock worth $855,212,000 after purchasing an additional 123,050 shares during the last quarter. 89.78% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, SVP Joseph Vaughn sold 2,300 shares of the firm's stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $244.89, for a total transaction of $563,247.00. Following the completion of the transaction, the senior vice president now owns 9,197 shares in the company, valued at $2,252,253.33. This trade represents a 20.01 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Paul T. Stecko sold 10,500 shares of the firm's stock in a transaction that occurred 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 transaction, the director now owns 8,881 shares of the company's stock, valued at $2,175,045.71. This trade represents a 54.18 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 33,300 shares of company stock worth $8,064,152. 1.60% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages have weighed in on PKG. StockNews.com lowered Packaging Co. of America from a "buy" rating to a "hold" rating in a research report on Wednesday, January 29th. Wells Fargo & Company dropped their target price on Packaging Co. of America from $253.00 to $236.00 and set an "overweight" rating on the stock in a research report on Thursday. Truist Financial reissued a "buy" rating and set a $265.00 price objective (down previously from $282.00) on shares of Packaging Co. of America in a report on Thursday. Citigroup increased their price objective on Packaging Co. of America from $232.00 to $235.00 and gave the company a "neutral" rating in a report on Monday, January 6th. Finally, Jefferies Financial Group raised Packaging Co. of America from a "hold" rating to a "buy" rating and increased their price objective for the company from $215.00 to $280.00 in a report on Wednesday, December 18th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, Packaging Co. of America currently has a consensus rating of "Moderate Buy" and an average price target of $233.00.

Packaging Co. of America Stock Performance

PKG traded down $1.23 during midday trading on Monday, reaching $211.43. The company's stock had a trading volume of 1,075,367 shares, compared to its average volume of 976,713. The stock has a market cap of $18.99 billion, a P/E ratio of 23.68, a PEG ratio of 2.29 and a beta of 0.79. The company has a fifty day simple moving average of $234.01 and a 200 day simple moving average of $220.60. 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 twelve month low of $159.57 and a twelve month high of $250.82.

Packaging Co. of America (NYSE:PKG - Get Free Report) last released its earnings results on Tuesday, January 28th. The industrial products company reported $2.47 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.51 by ($0.04). Packaging Co. of America had a net margin of 9.60% and a return on equity of 19.67%. Research analysts expect that Packaging Co. of America will post 11.15 earnings per share for the current year.

Packaging Co. of America Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Friday, December 20th were given a $1.25 dividend. The ex-dividend date of this dividend was Friday, December 20th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.36%. Packaging Co. of America's dividend payout ratio is currently 55.99%.

Packaging Co. of America Profile

Packaging Corporation of America engages in the production of container products. It operates through the following segments: Packaging, Paper, and Corporate and Other. The Packaging segment offers a variety of corrugated packaging products, such as conventional shipping containers. The Paper segment manufactures and sells a range of papers, including communication-based papers, and pressure sensitive papers.