Portfolio Design Labs LLC Sells 8,787 Shares of Packaging Co. of America (NYSE:PKG)

Portfolio Design Labs LLC lowered its holdings in shares of Packaging Co. of America (NYSE:PKG - Free Report) by 87.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,206 shares of the industrial products company's stock after selling 8,787 shares during the quarter. Portfolio Design Labs LLC's holdings in Packaging Co. of America were worth $260,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in PKG. Boston Partners boosted its stake in Packaging Co. of America by 49.3% in the 1st quarter. Boston Partners now owns 1,446,303 shares of the industrial products company's stock worth $274,421,000 after purchasing an additional 477,487 shares in the last quarter. Millennium Management LLC raised its holdings in shares of Packaging Co. of America by 34.3% during the second quarter. Millennium Management LLC now owns 1,027,585 shares of the industrial products company's stock worth $187,596,000 after purchasing an additional 262,315 shares during the last quarter. AQR Capital Management LLC raised its holdings in shares of Packaging Co. of America by 164.3% during the second quarter. AQR Capital Management LLC now owns 401,360 shares of the industrial products company's stock worth $73,272,000 after purchasing an additional 249,483 shares during the last quarter. International Assets Investment Management LLC raised its holdings in shares of Packaging Co. of America by 41,151.7% during the third 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. Finally, Mizuho Securities USA LLC raised its holdings in shares of Packaging Co. of America by 1,800.2% during the third 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. Institutional investors own 89.78% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Citigroup boosted their price target 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. Wells Fargo & Company lifted their price objective on Packaging Co. of America from $235.00 to $253.00 and gave the company an "overweight" rating in a research note on Thursday, October 24th. Truist Financial reaffirmed a "buy" rating and set a $252.00 price objective (up previously from $242.00) on shares of Packaging Co. of America in a research report on Thursday, October 24th. Finally, StockNews.com cut shares of Packaging Co. of America from a "buy" rating to a "hold" rating in a research report on Wednesday. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $221.60.

Packaging Co. of America Stock Up 0.3 %

Shares of PKG stock traded up $0.77 during trading hours on Thursday, hitting $244.87. 124,893 shares of the company were exchanged, compared to its average volume of 599,826. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.98 and a current ratio of 2.95. Packaging Co. of America has a one year low of $152.99 and a one year high of $248.62. The business's 50-day simple moving average is $223.36 and its two-hundred day simple moving average is $201.48. The stock has a market capitalization of $21.99 billion, a price-to-earnings ratio of 28.41, a P/E/G ratio of 3.35 and a beta of 0.76.

Packaging Co. of America (NYSE:PKG - Get Free Report) last released its quarterly earnings results on Tuesday, October 22nd. The industrial products company reported $2.65 EPS for the quarter, topping analysts' consensus estimates of $2.50 by $0.15. The company had revenue of $2.18 billion for the quarter, compared to the consensus estimate of $2.09 billion. Packaging Co. of America had a net margin of 9.46% and a return on equity of 19.10%. Packaging Co. of America's revenue was up 14.9% on a year-over-year basis. During the same period in the previous year, the firm earned $2.05 EPS. Sell-side analysts predict that Packaging Co. of America will post 9.07 EPS for the current fiscal year.

Packaging Co. of America Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Tuesday, October 15th were given a dividend of $1.25 per share. The ex-dividend date was Monday, September 16th. This represents a $5.00 annualized dividend and a dividend yield of 2.04%. Packaging Co. of America's dividend payout ratio (DPR) is 58.28%.

Insider Activity

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

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.