abrdn plc Decreases Stock Holdings in Packaging Co. of America (NYSE:PKG)

abrdn plc reduced its stake in Packaging Co. of America (NYSE:PKG - Free Report) by 7.0% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 30,944 shares of the industrial products company's stock after selling 2,321 shares during the quarter. abrdn plc's holdings in Packaging Co. of America were worth $6,946,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in PKG. Stifel Financial Corp lifted its holdings in shares of 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 acquiring an additional 536,389 shares during the last quarter. International Assets Investment Management LLC lifted its holdings in shares of 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 acquiring an additional 155,142 shares during the last quarter. Two Sigma Advisers LP lifted its holdings in shares of 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 acquiring an additional 142,400 shares during the last quarter. Mizuho Securities USA LLC lifted its holdings in shares of 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 acquiring an additional 123,711 shares during the last quarter. Finally, State Street Corp lifted its holdings in shares of 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 acquiring an additional 123,050 shares during the last quarter. 89.78% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have commented on PKG shares. StockNews.com cut shares of Packaging Co. of America from a "buy" rating to a "hold" rating in a research report on Wednesday, January 29th. Citigroup raised their price target on shares of Packaging Co. of America from $232.00 to $235.00 and gave the company a "neutral" rating in a research report on Monday, January 6th. Truist Financial reaffirmed a "buy" rating and set a $265.00 price objective (down from $282.00) on shares of Packaging Co. of America in a research report on Thursday, January 30th. Jefferies Financial Group raised shares of Packaging Co. of America from a "hold" rating to a "buy" rating and lifted their price objective for the stock from $215.00 to $280.00 in a research report on Wednesday, December 18th. Finally, Wells Fargo & Company cut their price target on shares of Packaging Co. of America from $253.00 to $236.00 and set an "overweight" rating on the stock in a research note on Thursday, January 30th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, Packaging Co. of America presently has an average rating of "Moderate Buy" and an average target price of $233.00.

Packaging Co. of America Stock Performance

NYSE PKG traded down $3.75 during trading on Wednesday, reaching $204.50. The company's stock had a trading volume of 952,880 shares, compared to its average volume of 944,692. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.98 and a current ratio of 2.95. The firm has a market cap of $18.37 billion, a price-to-earnings ratio of 22.90, a P/E/G ratio of 2.40 and a beta of 0.77. Packaging Co. of America has a twelve month low of $163.68 and a twelve month high of $250.82. The business's fifty day moving average price is $228.91 and its 200-day moving average price is $221.42.

Packaging Co. of America (NYSE:PKG - Get Free Report) last posted its quarterly earnings data on Tuesday, January 28th. The industrial products company reported $2.47 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%. As a group, analysts anticipate that Packaging Co. of America will post 10.6 EPS for the current fiscal year.

Packaging Co. of America Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Friday, December 20th were paid 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 yield of 2.44%. Packaging Co. of America's dividend payout ratio is presently 55.99%.

Insider Buying and Selling at Packaging Co. of America

In other news, SVP Joseph Vaughn sold 2,300 shares of Packaging Co. of America stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $244.89, for a total value of $563,247.00. Following the sale, the senior vice president now owns 9,197 shares of the company's stock, valued at $2,252,253.33. The trade was a 20.01 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Paul T. Stecko sold 10,500 shares of Packaging Co. of America stock in a transaction dated 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 sale, the director now directly owns 8,881 shares in the company, valued at approximately $2,175,045.71. The trade was a 54.18 % decrease in their position. The disclosure for this sale can be found here. 1.60% of the stock is currently owned by company insiders.

Packaging Co. of America Company 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.