Gulf International Bank UK Ltd Sells 279 Shares of Packaging Co. of America (NYSE:PKG)

Gulf International Bank UK Ltd decreased its holdings in Packaging Co. of America (NYSE:PKG) by 3.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,111 shares of the industrial products company’s stock after selling 279 shares during the period. Gulf International Bank UK Ltd’s holdings in Packaging Co. of America were worth $1,531,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Coldstream Capital Management Inc. grew its holdings in shares of Packaging Co. of America by 1.4% in the second quarter. Coldstream Capital Management Inc. now owns 3,859 shares of the industrial products company’s stock worth $704,000 after acquiring an additional 54 shares during the period. Daiwa Securities Group Inc. grew its holdings in shares of Packaging Co. of America by 0.6% in the second quarter. Daiwa Securities Group Inc. now owns 9,713 shares of the industrial products company’s stock worth $1,773,000 after acquiring an additional 56 shares during the period. Moors & Cabot Inc. grew its holdings in shares of Packaging Co. of America by 2.1% in the second quarter. Moors & Cabot Inc. now owns 2,689 shares of the industrial products company’s stock worth $491,000 after acquiring an additional 56 shares during the period. Evergreen Capital Management LLC grew its holdings in shares of Packaging Co. of America by 2.4% in the second quarter. Evergreen Capital Management LLC now owns 2,461 shares of the industrial products company’s stock worth $452,000 after acquiring an additional 57 shares during the period. Finally, Deseret Mutual Benefit Administrators grew its holdings in shares of Packaging Co. of America by 22.4% in the second quarter. Deseret Mutual Benefit Administrators now owns 322 shares of the industrial products company’s stock worth $59,000 after acquiring an additional 59 shares during the period. Institutional investors own 89.78% of the company’s stock.

Packaging Co. of America Price Performance

Shares of Packaging Co. of America stock opened at $239.48 on Friday. The stock’s 50-day simple moving average is $217.31 and its 200-day simple moving average is $197.25. Packaging Co. of America has a 52 week low of $148.50 and a 52 week high of $245.00. The company has a market capitalization of $21.51 billion, a price-to-earnings ratio of 27.91, a PEG ratio of 3.26 and a beta of 0.76. The company has a quick ratio of 1.71, a current ratio of 2.43 and a debt-to-equity ratio of 0.60.

Packaging Co. of America (NYSE:PKG) last posted its 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 return on equity of 19.35% and a net margin of 9.46%. The firm’s revenue for the quarter was up 14.9% on a year-over-year basis. During the same period in the previous year, the business earned $2.05 earnings per share. As a group, analysts expect that Packaging Co. of America will post 9 earnings per share for the current fiscal year.

Packaging Co. of America Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Tuesday, October 15th were given a $1.25 dividend. The ex-dividend date of this dividend was Monday, September 16th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.09%. Packaging Co. of America’s dividend payout ratio is currently 58.28%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on PKG shares. Citigroup boosted their price target on Packaging Co. of America from $199.00 to $221.00 and gave the company a “neutral” rating in a report on Wednesday, October 2nd. StockNews.com lowered Packaging Co. of America from a “buy” rating to a “hold” rating in a report on Friday, November 1st. Truist Financial reissued a “buy” rating and set a $252.00 price target (up previously from $242.00) on shares of Packaging Co. of America in a report on Thursday, October 24th. Finally, Wells Fargo & Company boosted their price target on Packaging Co. of America from $235.00 to $253.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $221.60.

Packaging Co. of America 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.