Sumitomo Mitsui Trust Group Inc. Cuts Stake in Packaging Co. of America (NYSE:PKG)

Sumitomo Mitsui Trust Group Inc. lessened its stake in shares of Packaging Co. of America (NYSE:PKG - Free Report) by 2.3% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 224,726 shares of the industrial products company's stock after selling 5,263 shares during the period. Sumitomo Mitsui Trust Group Inc. owned about 0.25% of Packaging Co. of America worth $50,593,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Larson Financial Group LLC increased its holdings in Packaging Co. of America by 234.7% during the third quarter. Larson Financial Group LLC now owns 164 shares of the industrial products company's stock worth $35,000 after buying an additional 115 shares during the last quarter. Fortitude Family Office LLC increased its holdings in Packaging Co. of America by 150.8% during the fourth quarter. Fortitude Family Office LLC now owns 163 shares of the industrial products company's stock worth $37,000 after buying an additional 98 shares during the last quarter. Assetmark Inc. increased its holdings in Packaging Co. of America by 44.6% during the third quarter. Assetmark Inc. now owns 269 shares of the industrial products company's stock worth $58,000 after buying an additional 83 shares during the last quarter. Brooklyn Investment Group purchased a new stake in Packaging Co. of America during the third quarter worth about $64,000. Finally, Allworth Financial LP increased its holdings in Packaging Co. of America by 65.1% during the third quarter. Allworth Financial LP now owns 312 shares of the industrial products company's stock worth $67,000 after buying an additional 123 shares during the last quarter. Hedge funds and other institutional investors own 89.78% of the company's stock.

Packaging Co. of America Price Performance

Shares of PKG stock traded up $0.39 during trading hours on Friday, reaching $212.54. The stock had a trading volume of 806,333 shares, compared to its average volume of 959,478. The stock's fifty day simple moving average is $226.87 and its 200 day simple moving average is $221.33. 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 12 month low of $165.20 and a 12 month high of $250.82. The firm has a market capitalization of $19.09 billion, a PE ratio of 23.80, a PEG ratio of 2.40 and a beta of 0.77.

Packaging Co. of America (NYSE:PKG - Get Free Report) last released 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%. On average, equities research analysts predict that Packaging Co. of America will post 10.6 EPS for the current year.

Packaging Co. of America Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Friday, December 20th were given a $1.25 dividend. The ex-dividend date was Friday, December 20th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.35%. Packaging Co. of America's dividend payout ratio (DPR) is currently 55.99%.

Insider Activity

In other Packaging Co. of America news, Director Paul T. Stecko sold 10,500 shares of the business's stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $244.91, for a total value of $2,571,555.00. Following the completion of the transaction, the director now owns 8,881 shares of the company's stock, valued at $2,175,045.71. The trade was a 54.18 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Joseph Vaughn sold 2,300 shares of the business'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 directly owns 9,197 shares of the company's stock, valued at approximately $2,252,253.33. This represents a 20.01 % decrease in their position. The disclosure for this sale can be found here. 1.60% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

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

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.