Packaging Co. of America (NYSE:PKG) Shares Sold by Crossmark Global Holdings Inc.

Crossmark Global Holdings Inc. reduced its stake in shares of Packaging Co. of America (NYSE:PKG) by 3.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,635 shares of the industrial products company’s stock after selling 203 shares during the period. Crossmark Global Holdings Inc.’s holdings in Packaging Co. of America were worth $1,212,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. CANADA LIFE ASSURANCE Co boosted its stake in shares of Packaging Co. of America by 4.6% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 70,689 shares of the industrial products company’s stock worth $13,419,000 after purchasing an additional 3,078 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp grew its stake in Packaging Co. of America by 30.4% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 90,686 shares of the industrial products company’s stock worth $17,168,000 after acquiring an additional 21,143 shares during the period. Cim LLC purchased a new stake in shares of Packaging Co. of America in the fourth quarter valued at $2,003,000. Summit Financial Strategies Inc. boosted its stake in Packaging Co. of America by 5.5% in the 2nd quarter. Summit Financial Strategies Inc. now owns 234,495 shares of the industrial products company’s stock worth $42,809,000 after buying an additional 12,129 shares during the last quarter. Finally, AXS Investments LLC purchased a new stake in Packaging Co. of America in the 4th quarter valued at about $766,000. Hedge funds and other institutional investors own 89.78% of the company’s stock.

Wall Street Analysts Forecast Growth

PKG has been the topic of several recent analyst reports. Bank of America increased their price objective on shares of Packaging Co. of America from $197.00 to $200.00 and gave the stock a “buy” rating in a report on Monday, June 17th. Truist Financial lifted their target price on Packaging Co. of America from $215.00 to $219.00 and gave the company a “buy” rating in a report on Thursday, July 25th. Citigroup upped their price target on Packaging Co. of America from $181.00 to $187.00 and gave the stock a “neutral” rating in a research note on Monday, July 8th. Wells Fargo & Company lifted their price objective on Packaging Co. of America from $194.00 to $215.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. Finally, StockNews.com downgraded shares of Packaging Co. of America from a “buy” rating to a “hold” rating in a research report on Wednesday. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $190.50.

Packaging Co. of America Price Performance

PKG stock opened at $209.54 on Friday. The firm has a market cap of $18.82 billion, a P/E ratio of 26.19, a price-to-earnings-growth ratio of 5.08 and a beta of 0.77. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.71 and a current ratio of 2.43. Packaging Co. of America has a 1 year low of $143.82 and a 1 year high of $210.11. The stock has a 50-day simple moving average of $192.42 and a 200-day simple moving average of $185.00.

Packaging Co. of America (NYSE:PKG) last issued its quarterly earnings data on Tuesday, July 23rd. The industrial products company reported $2.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.14 by $0.06. The company had revenue of $2.08 billion during the quarter, compared to the consensus estimate of $2.02 billion. Packaging Co. of America had a net margin of 9.06% and a return on equity of 18.21%. Packaging Co. of America’s revenue for the quarter was up 6.3% on a year-over-year basis. During the same quarter last year, the company earned $2.31 earnings per share. On average, equities analysts predict that Packaging Co. of America will post 8.71 earnings per share for the current fiscal year.

Packaging Co. of America Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 16th will be given a $1.25 dividend. The ex-dividend date is Monday, September 16th. This represents a $5.00 dividend on an annualized basis and a yield of 2.39%. Packaging Co. of America’s payout ratio is currently 62.50%.

Insider Buying and Selling

In related news, EVP Charles J. Carter sold 5,389 shares of Packaging Co. of America stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $196.28, for a total value of $1,057,752.92. Following the completion of the sale, the executive vice president now owns 25,539 shares in the company, valued at $5,012,794.92. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, EVP Charles J. Carter sold 5,389 shares of Packaging Co. of America stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $196.28, for a total value of $1,057,752.92. Following the completion of the transaction, the executive vice president now directly owns 25,539 shares in the company, valued at $5,012,794.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Donald R. Shirley sold 6,000 shares of the business’s stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $196.28, for a total value of $1,177,680.00. Following the completion of the sale, the senior vice president now directly owns 20,772 shares of the company’s stock, valued at $4,077,128.16. The disclosure for this sale can be found here. Insiders own 1.60% of the company’s stock.

About Packaging Co. of America

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.