Livforsakringsbolaget Skandia Omsesidigt Has $283,000 Holdings in Packaging Co. of America (NYSE:PKG)

Livforsakringsbolaget Skandia Omsesidigt increased its position in shares of Packaging Co. of America (NYSE:PKG) by 337.3% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,312 shares of the industrial products company’s stock after buying an additional 1,012 shares during the period. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Packaging Co. of America were worth $283,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Register Financial Advisors LLC acquired a new position in shares of Packaging Co. of America in the 1st quarter valued at about $25,000. Asset Dedication LLC lifted its stake in Packaging Co. of America by 200.0% in the second quarter. Asset Dedication LLC now owns 168 shares of the industrial products company’s stock valued at $31,000 after buying an additional 112 shares during the period. Central Pacific Bank Trust Division acquired a new stake in shares of Packaging Co. of America during the 3rd quarter worth approximately $32,000. Tortoise Investment Management LLC bought a new stake in shares of Packaging Co. of America in the 2nd quarter valued at $33,000. Finally, Headlands Technologies LLC acquired a new position in shares of Packaging Co. of America during the 1st quarter valued at $43,000. Institutional investors and hedge funds own 89.78% of the company’s stock.

Packaging Co. of America Price Performance

PKG opened at $219.98 on Tuesday. The firm has a 50-day moving average price of $207.13 and a 200-day moving average price of $192.12. Packaging Co. of America has a twelve month low of $143.82 and a twelve month high of $220.09. 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 $19.75 billion, a price-to-earnings ratio of 27.50, a PEG ratio of 4.25 and a beta of 0.77.

Packaging Co. of America (NYSE:PKG) last announced its quarterly earnings results on Tuesday, July 23rd. The industrial products company reported $2.20 earnings per share for the quarter, beating the consensus estimate of $2.14 by $0.06. Packaging Co. of America had a return on equity of 18.21% and a net margin of 9.06%. The firm had revenue of $2.08 billion for the quarter, compared to analysts’ expectations of $2.02 billion. During the same period in the prior year, the business posted $2.31 earnings per share. The company’s revenue was up 6.3% on a year-over-year basis. Equities analysts expect that Packaging Co. of America will post 8.73 EPS for the current year.

Packaging Co. of America Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Tuesday, October 15th were issued a $1.25 dividend. This represents a $5.00 annualized dividend and a yield of 2.27%. The ex-dividend date of this dividend was Monday, September 16th. Packaging Co. of America’s payout ratio is 62.50%.

Insider Activity

In related news, EVP Charles J. Carter sold 5,389 shares of the stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $196.28, for a total value of $1,057,752.92. Following the sale, the executive vice president now owns 25,539 shares in the company, valued at approximately $5,012,794.92. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, SVP Donald R. Shirley sold 6,000 shares of the firm’s stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $196.28, for a total transaction of $1,177,680.00. Following the sale, the senior vice president now owns 20,772 shares in the company, valued at approximately $4,077,128.16. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Charles J. Carter sold 5,389 shares of the company’s stock in a transaction on 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 owns 25,539 shares of the company’s stock, valued at $5,012,794.92. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.60% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. 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 research note on Monday, June 17th. Truist Financial increased their target price on shares of Packaging Co. of America from $215.00 to $219.00 and gave the company a “buy” rating in a report on Thursday, July 25th. Wells Fargo & Company boosted their price target on shares of Packaging Co. of America from $215.00 to $235.00 and gave the stock an “overweight” rating in a report on Monday, October 7th. Citigroup raised their price objective on shares of Packaging Co. of America from $199.00 to $221.00 and gave the stock a “neutral” rating in a report on Wednesday, October 2nd. Finally, StockNews.com downgraded shares of Packaging Co. of America from a “buy” rating to a “hold” rating in a research report on Saturday, September 28th. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, Packaging Co. of America presently has a consensus rating of “Hold” and an average target price of $199.50.

About Packaging Co. of America

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.