Unigestion Holding SA Sells 60,030 Shares of Packaging Co. of America (NYSE:PKG)

Unigestion Holding SA trimmed its holdings in Packaging Co. of America (NYSE:PKG - Free Report) by 45.6% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 71,624 shares of the industrial products company's stock after selling 60,030 shares during the period. Unigestion Holding SA owned 0.08% of Packaging Co. of America worth $15,428,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PKG. Asset Dedication LLC boosted its holdings in shares of Packaging Co. of America by 200.0% in the 2nd quarter. Asset Dedication LLC now owns 168 shares of the industrial products company's stock valued at $31,000 after purchasing an additional 112 shares during the last quarter. Central Pacific Bank Trust Division acquired a new stake in shares of Packaging Co. of America in the third quarter valued at about $32,000. Tortoise Investment Management LLC purchased a new stake in shares of Packaging Co. of America during the 2nd quarter valued at about $33,000. Larson Financial Group LLC boosted its holdings in Packaging Co. of America by 234.7% in the 3rd quarter. Larson Financial Group LLC now owns 164 shares of the industrial products company's stock worth $35,000 after acquiring an additional 115 shares during the period. Finally, Strategic Financial Concepts LLC acquired a new stake in Packaging Co. of America in the second quarter valued at approximately $50,000. Hedge funds and other institutional investors own 89.78% of the company's stock.

Packaging Co. of America Price Performance

NYSE:PKG traded up $0.41 during trading hours on Wednesday, reaching $238.64. 704,162 shares of the company's stock were exchanged, compared to its average volume of 602,120. The company has a quick ratio of 1.98, a current ratio of 2.95 and a debt-to-equity ratio of 0.58. The company has a market capitalization of $21.43 billion, a P/E ratio of 27.77, a price-to-earnings-growth ratio of 3.41 and a beta of 0.77. The business's 50-day simple moving average is $232.07 and its two-hundred day simple moving average is $207.94. Packaging Co. of America has a 12 month low of $159.57 and a 12 month high of $250.82.

Packaging Co. of America (NYSE:PKG - Get Free Report) last issued its quarterly earnings results 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. Packaging Co. of America had a return on equity of 19.10% and a net margin of 9.46%. The business had revenue of $2.18 billion for the quarter, compared to the consensus estimate of $2.09 billion. During the same quarter in the previous year, the company posted $2.05 earnings per share. Packaging Co. of America's revenue for the quarter was up 14.9% compared to the same quarter last year. Sell-side analysts expect that Packaging Co. of America will post 9.07 EPS for the current fiscal year.

Packaging Co. of America Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Friday, December 20th will be issued a dividend of $1.25 per share. The ex-dividend date of this dividend is Friday, December 20th. This represents a $5.00 annualized dividend and a dividend yield of 2.10%. Packaging Co. of America's dividend payout ratio is 58.28%.

Insider Transactions at Packaging Co. of America

In other Packaging Co. of America news, 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 sale, 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 transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Robert P. Mundy sold 12,500 shares of the stock in a transaction that occurred 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 completion of the sale, the chief financial officer now directly owns 43,954 shares of the company's stock, valued at $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. Insiders sold 33,300 shares of company stock valued at $8,064,152 in the last three months. Corporate insiders own 1.60% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in 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 research report on Thursday, October 24th. StockNews.com raised Packaging Co. of America from a "hold" rating to a "buy" rating in a report on Tuesday, December 3rd. Citigroup lifted their target price on Packaging Co. of America from $199.00 to $221.00 and gave the stock a "neutral" rating in a research report on Wednesday, October 2nd. Finally, Wells Fargo & Company lifted their price objective on shares of Packaging Co. of America from $235.00 to $253.00 and gave the stock an "overweight" rating in a report on Thursday, October 24th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $221.60.

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.