Packaging Co. of America (NYSE:PKG) Shares Sold by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC cut its stake in Packaging Co. of America (NYSE:PKG) by 12.1% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 12,793 shares of the industrial products company’s stock after selling 1,755 shares during the period. Nisa Investment Advisors LLC’s holdings in Packaging Co. of America were worth $2,896,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently added to or reduced their stakes in the company. Canada Pension Plan Investment Board bought a new stake in Packaging Co. of America in the 2nd quarter valued at about $1,296,000. Public Sector Pension Investment Board raised its holdings in shares of Packaging Co. of America by 66.4% during the second quarter. Public Sector Pension Investment Board now owns 3,330 shares of the industrial products company’s stock valued at $608,000 after buying an additional 1,329 shares during the last quarter. Bank of Montreal Can raised its holdings in shares of Packaging Co. of America by 1.7% during the second quarter. Bank of Montreal Can now owns 85,422 shares of the industrial products company’s stock valued at $16,056,000 after buying an additional 1,444 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its holdings in Packaging Co. of America by 61.0% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 17,165 shares of the industrial products company’s stock worth $3,134,000 after buying an additional 6,501 shares in the last quarter. Finally, AQR Capital Management LLC increased its position 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 period. 89.78% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

PKG has been the subject of several recent analyst reports. Citigroup increased their price target on 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. StockNews.com raised shares of Packaging Co. of America from a “hold” rating to a “buy” rating in a research note on Tuesday, December 24th. Wells Fargo & Company increased 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 report on Thursday, October 24th. Jefferies Financial Group raised Packaging Co. of America from a “hold” rating to a “buy” rating and boosted their target price for the stock from $215.00 to $280.00 in a report on Wednesday, December 18th. Finally, Truist Financial lifted their price target on Packaging Co. of America from $252.00 to $282.00 and gave the company a “buy” rating in a research report on Monday, January 6th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $238.67.

Insider Activity at Packaging Co. of America

In other Packaging Co. of America news, SVP Joseph Vaughn sold 2,300 shares of the firm’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $244.89, for a total value of $563,247.00. Following the completion of the transaction, the senior vice president now directly owns 9,197 shares in the company, valued at $2,252,253.33. This trade represents a 20.01 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Robert P. Mundy sold 12,500 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $240.62, for a total transaction of $3,007,750.00. Following the sale, the chief financial officer now owns 43,954 shares in the company, valued at $10,576,211.48. This represents a 22.14 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 33,300 shares of company stock worth $8,064,152 in the last quarter. 1.60% of the stock is owned by company insiders.

Packaging Co. of America Price Performance

NYSE PKG opened at $240.08 on Friday. Packaging Co. of America has a 1 year low of $159.57 and a 1 year high of $250.82. The business’s fifty day moving average is $235.85 and its two-hundred day moving average is $219.03. The stock has a market capitalization of $21.56 billion, a P/E ratio of 27.98, a P/E/G ratio of 2.36 and a beta of 0.79. 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 Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Friday, December 20th were issued a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a dividend yield of 2.08%. The ex-dividend date of this dividend was Friday, December 20th. Packaging Co. of America’s dividend payout ratio is 58.28%.

About Packaging Co. of America

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.