The Manufacturers Life Insurance Company Decreases Stock Position in Packaging Co. of America (NYSE:PKG)

The Manufacturers Life Insurance Company cut its position in shares of Packaging Co. of America (NYSE:PKGFree Report) by 8.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 82,876 shares of the industrial products company’s stock after selling 7,540 shares during the quarter. The Manufacturers Life Insurance Company owned 0.09% of Packaging Co. of America worth $13,501,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. First Horizon Advisors Inc. increased its holdings in shares of Packaging Co. of America by 60.5% during the fourth quarter. First Horizon Advisors Inc. now owns 183 shares of the industrial products company’s stock valued at $30,000 after purchasing an additional 69 shares during the period. Gables Capital Management Inc. acquired a new position in shares of Packaging Co. of America in the 4th quarter valued at $31,000. Anchor Investment Management LLC acquired a new position in shares of Packaging Co. of America in the 4th quarter valued at $37,000. Fortis Group Advisors LLC acquired a new stake in Packaging Co. of America during the 3rd quarter worth about $46,000. Finally, BKM Wealth Management LLC acquired a new stake in Packaging Co. of America during the 4th quarter worth about $49,000. 89.78% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on PKG shares. StockNews.com raised Packaging Co. of America from a “hold” rating to a “buy” rating in a research note on Tuesday, May 21st. Truist Financial lifted their price objective on Packaging Co. of America from $191.00 to $208.00 and gave the stock a “buy” rating in a report on Thursday, May 30th. BNP Paribas lowered Packaging Co. of America from an “outperform” rating to a “neutral” rating and set a $182.00 price target on the stock. in a research note on Friday, April 12th. Wells Fargo & Company raised Packaging Co. of America from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $187.00 to $191.00 in a research note on Wednesday, April 24th. Finally, Citigroup reduced their price objective on Packaging Co. of America from $183.00 to $181.00 and set a “neutral” rating on the stock in a research note on Thursday, April 25th. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $176.57.

View Our Latest Report on Packaging Co. of America

Packaging Co. of America Stock Up 0.5 %

NYSE:PKG opened at $184.41 on Tuesday. Packaging Co. of America has a 1 year low of $127.69 and a 1 year high of $191.27. The company has a current ratio of 2.46, a quick ratio of 1.74 and a debt-to-equity ratio of 0.62. The stock has a market cap of $16.56 billion, a price-to-earnings ratio of 23.05, a PEG ratio of 7.85 and a beta of 0.78. The stock has a 50-day moving average price of $181.07 and a two-hundred day moving average price of $174.17.

Packaging Co. of America (NYSE:PKGGet Free Report) last posted its quarterly earnings data on Tuesday, April 23rd. The industrial products company reported $1.72 earnings per share for the quarter, topping the consensus estimate of $1.63 by $0.09. The company had revenue of $1.98 billion during the quarter, compared to analysts’ expectations of $1.91 billion. Packaging Co. of America had a return on equity of 18.80% and a net margin of 9.25%. Packaging Co. of America’s revenue for the quarter was up .2% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.20 earnings per share. As a group, equities analysts expect that Packaging Co. of America will post 8.27 earnings per share for the current year.

Packaging Co. of America Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 14th will be given a dividend of $1.25 per share. The ex-dividend date is Friday, June 14th. This represents a $5.00 annualized dividend and a yield of 2.71%. Packaging Co. of America’s dividend payout ratio (DPR) is presently 62.50%.

Insider Activity

In other Packaging Co. of America 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 cost of $182.06 per share, with a total value of $54,618.00. Following the completion of the transaction, the director now directly owns 916 shares in the company, valued at approximately $166,766.96. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 1.70% of the company’s stock.

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.

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

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