KBC Group NV Lowers Position in Packaging Co. of America (NYSE:PKG)

KBC Group NV reduced its position in Packaging Co. of America (NYSE:PKGFree Report) by 57.5% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 21,135 shares of the industrial products company’s stock after selling 28,539 shares during the period. KBC Group NV’s holdings in Packaging Co. of America were worth $3,443,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Campbell & CO Investment Adviser LLC acquired a new position in shares of Packaging Co. of America during the 4th quarter valued at $1,528,000. Bank of Nova Scotia increased its stake in shares of Packaging Co. of America by 31.8% in the fourth quarter. Bank of Nova Scotia now owns 11,697 shares of the industrial products company’s stock worth $1,906,000 after buying an additional 2,821 shares during the last quarter. Treasurer of the State of North Carolina raised its holdings in Packaging Co. of America by 0.9% in the fourth quarter. Treasurer of the State of North Carolina now owns 41,659 shares of the industrial products company’s stock valued at $6,787,000 after acquiring an additional 386 shares in the last quarter. Allianz Asset Management GmbH boosted its stake in Packaging Co. of America by 269.6% during the 4th quarter. Allianz Asset Management GmbH now owns 27,754 shares of the industrial products company’s stock valued at $4,521,000 after acquiring an additional 20,244 shares during the last quarter. Finally, Focus Financial Network Inc. ADV acquired a new position in Packaging Co. of America during the 4th quarter worth $505,000. Institutional investors and hedge funds own 89.78% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on PKG. Bank of America upgraded shares of Packaging Co. of America from a “neutral” rating to a “buy” rating and upped their target price for the company from $172.00 to $202.00 in a research note on Monday, March 4th. StockNews.com raised Packaging Co. of America from a “hold” rating to a “buy” rating in a report on Tuesday, May 21st. BNP Paribas lowered Packaging Co. of America from an “outperform” rating to a “neutral” rating and set a $182.00 target price for the company. in a research report on Friday, April 12th. Citigroup dropped their price target on Packaging Co. of America from $183.00 to $181.00 and set a “neutral” rating on the stock in a research report on Thursday, April 25th. Finally, Truist Financial lifted their price objective on shares of Packaging Co. of America from $191.00 to $208.00 and gave the stock a “buy” rating in a report on Thursday, May 30th. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, Packaging Co. of America has a consensus rating of “Moderate Buy” and a consensus target price of $176.57.

Get Our Latest Research Report on Packaging Co. of America

Insider Buying and Selling

In related news, Director Karen E. Gowland acquired 300 shares of the business’s stock in a transaction dated Wednesday, May 15th. The stock was bought at an average price of $182.06 per share, for a total transaction of $54,618.00. Following the transaction, the director now owns 916 shares of the company’s stock, valued at $166,766.96. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. 1.60% of the stock is owned by corporate insiders.

Packaging Co. of America Trading Up 0.2 %

NYSE:PKG opened at $183.09 on Friday. The firm has a market capitalization of $16.44 billion, a P/E ratio of 22.89, a P/E/G ratio of 7.81 and a beta of 0.78. The business has a 50 day simple moving average of $181.19 and a 200 day simple moving average of $173.68. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.46 and a quick ratio of 1.74. Packaging Co. of America has a 12-month low of $127.69 and a 12-month high of $191.27.

Packaging Co. of America (NYSE:PKGGet Free Report) last released its quarterly earnings results on Tuesday, April 23rd. The industrial products company reported $1.72 EPS for the quarter, topping the consensus estimate of $1.63 by $0.09. The business had revenue of $1.98 billion during the quarter, compared to analyst estimates of $1.91 billion. Packaging Co. of America had a net margin of 9.25% and a return on equity of 18.80%. The company’s quarterly revenue was up .2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.20 earnings per share. Equities research analysts predict that Packaging Co. of America will post 8.27 EPS for the current year.

Packaging Co. of America Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 14th will be given a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a dividend yield of 2.73%. The ex-dividend date is Friday, June 14th. Packaging Co. of America’s dividend payout ratio (DPR) is presently 62.50%.

Packaging Co. of America 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.

Further Reading

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

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