Packaging Co. of America (NYSE:PKG) Stake Lowered by iA Global Asset Management Inc.

iA Global Asset Management Inc. decreased its position in shares of Packaging Co. of America (NYSE:PKG) by 11.7% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 9,446 shares of the industrial products company’s stock after selling 1,249 shares during the period. iA Global Asset Management Inc.’s holdings in Packaging Co. of America were worth $1,724,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Register Financial Advisors LLC acquired a new stake in shares of Packaging Co. of America during the 1st quarter valued at about $25,000. Neo Ivy Capital Management bought a new position in Packaging Co. of America during the fourth quarter valued at approximately $28,000. First Horizon Advisors Inc. lifted its stake in Packaging Co. of America by 60.5% in the fourth quarter. First Horizon Advisors Inc. now owns 183 shares of the industrial products company’s stock valued at $30,000 after acquiring an additional 69 shares during the last quarter. Gables Capital Management Inc. bought a new stake in Packaging Co. of America in the fourth quarter worth approximately $31,000. Finally, Headlands Technologies LLC bought a new stake in Packaging Co. of America in the first quarter worth approximately $43,000. Hedge funds and other institutional investors own 89.78% of the company’s stock.

Insider Activity

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

Packaging Co. of America Stock Up 1.4 %

Packaging Co. of America stock opened at $209.54 on Friday. The firm has a market cap of $18.82 billion, a price-to-earnings ratio of 26.19, a P/E/G ratio of 5.08 and a beta of 0.77. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.43 and a quick ratio of 1.71. Packaging Co. of America has a fifty-two week low of $143.82 and a fifty-two week high of $210.11. The firm has a fifty day moving average price of $192.42 and a two-hundred day moving average price of $185.15.

Packaging Co. of America (NYSE:PKG) last released its earnings results on Tuesday, July 23rd. The industrial products company reported $2.20 earnings per share for the quarter, topping analysts’ consensus estimates of $2.14 by $0.06. The firm had revenue of $2.08 billion during the quarter, compared to analyst estimates of $2.02 billion. Packaging Co. of America had a net margin of 9.06% and a return on equity of 18.21%. The business’s revenue was up 6.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.31 EPS. As a group, analysts forecast that Packaging Co. of America will post 8.71 earnings per share for the current year.

Packaging Co. of America Announces Dividend

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

Wall Street Analysts Forecast Growth

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

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.