SG Americas Securities LLC Sells 5,766 Shares of Packaging Co. of America (NYSE:PKG)

SG Americas Securities LLC trimmed its holdings in shares of Packaging Co. of America (NYSE:PKGFree Report) by 59.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,983 shares of the industrial products company’s stock after selling 5,766 shares during the period. SG Americas Securities LLC’s holdings in Packaging Co. of America were worth $649,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. AEGON ASSET MANAGEMENT UK Plc purchased a new position in Packaging Co. of America during the 4th quarter valued at about $16,338,000. Meiji Yasuda Asset Management Co Ltd. grew its holdings in Packaging Co. of America by 60.4% during the 3rd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 5,020 shares of the industrial products company’s stock valued at $771,000 after buying an additional 1,890 shares in the last quarter. Acadian Asset Management LLC grew its holdings in Packaging Co. of America by 75.0% during the 3rd quarter. Acadian Asset Management LLC now owns 15,884 shares of the industrial products company’s stock valued at $2,436,000 after buying an additional 6,809 shares in the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund grew its holdings in Packaging Co. of America by 16.7% during the 3rd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 700 shares of the industrial products company’s stock valued at $107,000 after buying an additional 100 shares in the last quarter. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its holdings in Packaging Co. of America by 14.2% during the 3rd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 86,831 shares of the industrial products company’s stock valued at $13,333,000 after buying an additional 10,769 shares in the last quarter. 89.78% of the stock is currently owned by institutional investors.

Packaging Co. of America Stock Performance

NYSE:PKG opened at $188.68 on Thursday. The business has a 50 day moving average of $177.01 and a 200 day moving average of $164.84. The company has a market capitalization of $16.93 billion, a price-to-earnings ratio of 22.25, a PEG ratio of 4.61 and a beta of 0.78. Packaging Co. of America has a 1-year low of $122.20 and a 1-year high of $190.60. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.57 and a quick ratio of 1.77.

Packaging Co. of America (NYSE:PKGGet Free Report) last released its earnings results on Thursday, January 25th. The industrial products company reported $2.13 earnings per share for the quarter, topping analysts’ consensus estimates of $1.83 by $0.30. The company had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $1.90 billion. Packaging Co. of America had a return on equity of 20.25% and a net margin of 9.81%. Packaging Co. of America’s quarterly revenue was down 2.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.35 EPS. On average, sell-side analysts predict that Packaging Co. of America will post 8.18 earnings per share for the current fiscal year.

Packaging Co. of America Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, April 15th. Investors of record on Friday, March 15th will be given a $1.25 dividend. The ex-dividend date of this dividend is Thursday, March 14th. This represents a $5.00 dividend on an annualized basis and a yield of 2.65%. Packaging Co. of America’s payout ratio is 58.96%.

Insider Buying and Selling

In related news, CFO Robert P. Mundy sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $182.51, for a total value of $1,825,100.00. Following the completion of the sale, the chief financial officer now owns 46,454 shares in the company, valued at approximately $8,478,319.54. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Packaging Co. of America news, CFO Robert P. Mundy sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $182.51, for a total value of $1,825,100.00. Following the completion of the sale, the chief financial officer now owns 46,454 shares in the company, valued at $8,478,319.54. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Thomas A. Hassfurther sold 13,850 shares of the business’s stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $181.06, for a total value of $2,507,681.00. Following the completion of the sale, the vice president now owns 187,647 shares of the company’s stock, valued at approximately $33,975,365.82. The disclosure for this sale can be found here. Insiders sold 38,041 shares of company stock worth $6,799,177 in the last quarter. 1.80% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on PKG. Seaport Res Ptn lowered Packaging Co. of America from a “buy” rating to a “neutral” rating in a report on Monday, January 29th. Truist Financial boosted their price objective on Packaging Co. of America from $170.00 to $187.00 and gave the stock a “buy” rating in a report on Thursday, January 4th. StockNews.com lowered Packaging Co. of America from a “buy” rating to a “hold” rating in a report on Monday, February 12th. Finally, Bank of America raised Packaging Co. of America from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $172.00 to $202.00 in a report on Monday, March 4th. Five investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $165.33.

Read Our Latest Stock Analysis on Packaging Co. of America

Packaging Co. of America Company Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Packaging Co. of America (NYSE:PKG)

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