BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Raises Position in Packaging Co. of America (NYSE:PKG)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its stake in shares of Packaging Co. of America (NYSE:PKG) by 61.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 17,165 shares of the industrial products company’s stock after purchasing an additional 6,501 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Packaging Co. of America were worth $3,134,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Victory Capital Management Inc. grew its stake in Packaging Co. of America by 1.5% in the 2nd quarter. Victory Capital Management Inc. now owns 2,853,417 shares of the industrial products company’s stock valued at $520,920,000 after buying an additional 41,903 shares in the last quarter. FIL Ltd grew its stake in Packaging Co. of America by 2.6% in the 4th quarter. FIL Ltd now owns 2,210,000 shares of the industrial products company’s stock valued at $360,031,000 after buying an additional 55,000 shares in the last quarter. Boston Partners grew its position in shares of Packaging Co. of America by 49.3% during the 1st quarter. Boston Partners now owns 1,446,303 shares of the industrial products company’s stock valued at $274,421,000 after purchasing an additional 477,487 shares in the last quarter. Northern Trust Corp grew its position in shares of Packaging Co. of America by 2.4% during the 4th quarter. Northern Trust Corp now owns 1,182,797 shares of the industrial products company’s stock valued at $192,689,000 after purchasing an additional 27,974 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its position in shares of Packaging Co. of America by 8.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,153,732 shares of the industrial products company’s stock valued at $210,636,000 after purchasing an additional 86,005 shares in the last quarter. Hedge funds and other institutional investors own 89.78% of the company’s stock.

Insider Buying and Selling at Packaging Co. of America

In other Packaging Co. of America news, 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 transaction, the senior vice president now owns 20,772 shares in the company, valued at $4,077,128.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Packaging Co. of America news, 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 transaction, the senior vice president now owns 20,772 shares in the company, valued at $4,077,128.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Charles J. Carter sold 5,389 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 transaction of $1,057,752.92. Following the completion of the transaction, the executive vice president now owns 25,539 shares in the company, valued at approximately $5,012,794.92. The disclosure for this sale can be found here. Corporate insiders own 1.60% of the company’s stock.

Analyst Ratings Changes

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

Packaging Co. of America Stock Performance

Packaging Co. of America stock opened at $215.67 on Friday. The company has a quick ratio of 1.71, a current ratio of 2.43 and a debt-to-equity ratio of 0.60. The company has a market capitalization of $19.37 billion, a PE ratio of 26.96, a P/E/G ratio of 4.22 and a beta of 0.77. The firm has a fifty day simple moving average of $202.87 and a two-hundred day simple moving average of $189.73. Packaging Co. of America has a twelve month low of $143.82 and a twelve month high of $217.69.

Packaging Co. of America (NYSE:PKG) last posted its quarterly earnings results on Tuesday, July 23rd. The industrial products company reported $2.20 earnings per share for the quarter, topping the consensus estimate of $2.14 by $0.06. The business 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%. The firm’s revenue for the quarter was up 6.3% on a year-over-year basis. During the same period in the previous year, the firm posted $2.31 earnings per share. Research analysts expect that Packaging Co. of America will post 8.72 EPS for the current year.

Packaging Co. of America Dividend Announcement

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. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.32%. The ex-dividend date is Monday, September 16th. Packaging Co. of America’s payout ratio is 62.50%.

Packaging Co. of America Company 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.