Sequoia Financial Advisors LLC Trims Holdings in Packaging Co. of America (NYSE:PKG)

Sequoia Financial Advisors LLC lowered its stake in Packaging Co. of America (NYSE:PKGFree Report) by 52.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,485 shares of the industrial products company’s stock after selling 1,641 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Packaging Co. of America were worth $282,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. FIL Ltd raised its holdings in shares of 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 acquiring an additional 55,000 shares in the last quarter. Northern Trust Corp raised its stake in Packaging Co. of America by 2.4% in the fourth 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. Norges Bank bought a new stake in Packaging Co. of America during the fourth quarter valued at approximately $163,314,000. Boston Partners grew its stake in Packaging Co. of America by 20.1% in the 4th quarter. Boston Partners now owns 968,816 shares of the industrial products company’s stock worth $157,836,000 after buying an additional 162,420 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its position in shares of Packaging Co. of America by 0.7% during the 1st quarter. Bank of New York Mellon Corp now owns 874,497 shares of the industrial products company’s stock valued at $165,962,000 after buying an additional 5,842 shares in the last quarter. Hedge funds and other institutional investors own 89.78% of the company’s stock.

Insiders Place Their Bets

In other news, Director Karen E. Gowland bought 300 shares of the firm’s stock in a transaction dated Wednesday, May 15th. The stock was purchased at an average price of $182.06 per share, with a total value of $54,618.00. Following the transaction, the director now owns 916 shares of the company’s stock, valued at $166,766.96. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.70% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on PKG shares. Wells Fargo & Company upgraded shares of Packaging Co. of America from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $187.00 to $191.00 in a research report on Wednesday, April 24th. Citigroup boosted their target price on Packaging Co. of America from $181.00 to $187.00 and gave the stock a “neutral” rating in a research report on Monday. Truist Financial lifted their price target on shares of Packaging Co. of America from $191.00 to $208.00 and gave the stock a “buy” rating in a research note on Thursday, May 30th. StockNews.com raised shares of Packaging Co. of America from a “hold” rating to a “buy” rating in a research note on Tuesday, May 21st. Finally, Bank of America lifted their target price on shares of Packaging Co. of America from $197.00 to $200.00 and gave the stock a “buy” rating in a research report on Monday, June 17th. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $184.67.

Get Our Latest Stock Analysis on Packaging Co. of America

Packaging Co. of America Stock Down 1.8 %

Shares of NYSE:PKG opened at $176.32 on Wednesday. Packaging Co. of America has a 1 year low of $130.91 and a 1 year high of $191.39. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.46 and a quick ratio of 1.74. The stock’s 50-day moving average is $181.76 and its 200 day moving average is $177.21. The company has a market cap of $15.83 billion, a PE ratio of 22.04, a P/E/G ratio of 4.86 and a beta of 0.77.

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 earnings per share for the quarter, beating the consensus estimate of $1.63 by $0.09. Packaging Co. of America had a net margin of 9.25% and a return on equity of 18.80%. The business had revenue of $1.98 billion for the quarter, compared to analysts’ expectations of $1.91 billion. During the same quarter in the previous year, the business posted $2.20 earnings per share. The firm’s revenue for the quarter was up .2% compared to the same quarter last year. Sell-side analysts anticipate that Packaging Co. of America will post 8.33 EPS 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 paid a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a yield of 2.84%. The ex-dividend date of this dividend is Friday, June 14th. Packaging Co. of America’s payout ratio is currently 62.50%.

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.

Further Reading

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

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