Janus Henderson Group PLC Lowers Stock Holdings in Packaging Co. of America (NYSE:PKG)

Janus Henderson Group PLC decreased its position in shares of Packaging Co. of America (NYSE:PKG) by 3.2% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 9,106 shares of the industrial products company’s stock after selling 300 shares during the quarter. Janus Henderson Group PLC’s holdings in Packaging Co. of America were worth $1,961,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of PKG. Millennium Management LLC increased its holdings in Packaging Co. of America by 34.3% in the 2nd quarter. Millennium Management LLC now owns 1,027,585 shares of the industrial products company’s stock valued at $187,596,000 after acquiring an additional 262,315 shares during the last quarter. AQR Capital Management LLC increased its holdings in Packaging Co. of America by 164.3% in the 2nd quarter. AQR Capital Management LLC now owns 401,360 shares of the industrial products company’s stock valued at $73,272,000 after acquiring an additional 249,483 shares during the last quarter. International Assets Investment Management LLC increased its holdings in Packaging Co. of America by 41,151.7% in the 3rd quarter. International Assets Investment Management LLC now owns 155,519 shares of the industrial products company’s stock valued at $33,499,000 after acquiring an additional 155,142 shares during the last quarter. Mizuho Securities USA LLC increased its holdings in Packaging Co. of America by 1,800.2% in the 3rd quarter. Mizuho Securities USA LLC now owns 130,583 shares of the industrial products company’s stock valued at $28,128,000 after acquiring an additional 123,711 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Packaging Co. of America by 3.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,937,113 shares of the industrial products company’s stock worth $632,654,000 after buying an additional 98,223 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

Packaging Co. of America stock opened at $239.03 on Friday. The firm has a 50-day moving average of $233.12 and a two-hundred day moving average of $208.37. Packaging Co. of America has a 1 year low of $159.57 and a 1 year high of $250.82. The stock has a market cap of $21.47 billion, a price-to-earnings ratio of 27.86, a price-to-earnings-growth ratio of 3.41 and a beta of 0.77. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.95 and a quick ratio of 1.98.

Packaging Co. of America (NYSE:PKG) last announced its quarterly earnings results on Tuesday, October 22nd. The industrial products company reported $2.65 earnings per share for the quarter, topping the consensus estimate of $2.50 by $0.15. Packaging Co. of America had a net margin of 9.46% and a return on equity of 19.10%. The firm had revenue of $2.18 billion during the quarter, compared to analysts’ expectations of $2.09 billion. During the same quarter in the prior year, the company earned $2.05 EPS. The company’s revenue was up 14.9% compared to the same quarter last year. On average, research analysts forecast that Packaging Co. of America will post 9.07 earnings per share for the current year.

Packaging Co. of America Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Friday, December 20th will be given a $1.25 dividend. The ex-dividend date is Friday, December 20th. This represents a $5.00 annualized dividend and a dividend yield of 2.09%. Packaging Co. of America’s payout ratio is presently 58.28%.

Insider Transactions at Packaging Co. of America

In related news, SVP Joseph Vaughn sold 2,300 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $244.89, for a total transaction of $563,247.00. Following the completion of the sale, the senior vice president now owns 9,197 shares of the company’s stock, valued at $2,252,253.33. This represents a 20.01 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Donald R. Shirley sold 8,000 shares of the stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $240.20, for a total transaction of $1,921,600.00. Following the sale, the senior vice president now directly owns 15,725 shares of the company’s stock, valued at $3,777,145. The trade was a 33.72 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 33,300 shares of company stock valued at $8,064,152. Company insiders own 1.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on PKG shares. StockNews.com upgraded shares of Packaging Co. of America from a “hold” rating to a “buy” rating in a report on Tuesday, December 3rd. Truist Financial reiterated a “buy” rating and set a $252.00 price target (up from $242.00) on shares of Packaging Co. of America in a report on Thursday, October 24th. Citigroup boosted their price objective on shares of Packaging Co. of America from $199.00 to $221.00 and gave the company a “neutral” rating in a research report on Wednesday, October 2nd. Finally, Wells Fargo & Company boosted their price objective on shares of Packaging Co. of America from $235.00 to $253.00 and gave the company an “overweight” rating in a research 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’s stock. According to data from MarketBeat.com, Packaging Co. of America currently has an average rating of “Moderate Buy” and an average 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.