CX Institutional Sells 1,299 Shares of Packaging Co. of America (NYSE:PKG)

CX Institutional lessened its stake in shares of Packaging Co. of America (NYSE:PKG) by 73.9% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 459 shares of the industrial products company’s stock after selling 1,299 shares during the period. CX Institutional’s holdings in Packaging Co. of America were worth $91,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the stock. Asset Management One Co. Ltd. lifted its position in Packaging Co. of America by 1.3% during the fourth quarter. Asset Management One Co. Ltd. now owns 39,704 shares of the industrial products company’s stock valued at $9,016,000 after purchasing an additional 514 shares during the period. Principal Securities Inc. raised its stake in Packaging Co. of America by 38.9% during the 4th quarter. Principal Securities Inc. now owns 1,806 shares of the industrial products company’s stock valued at $407,000 after buying an additional 506 shares during the last quarter. Allworth Financial LP lifted its holdings in shares of Packaging Co. of America by 26.0% during the 4th quarter. Allworth Financial LP now owns 393 shares of the industrial products company’s stock valued at $94,000 after buying an additional 81 shares during the period. J.W. Cole Advisors Inc. boosted its stake in shares of Packaging Co. of America by 19.0% in the 4th quarter. J.W. Cole Advisors Inc. now owns 2,084 shares of the industrial products company’s stock worth $469,000 after buying an additional 333 shares during the last quarter. Finally, Principal Financial Group Inc. grew its holdings in shares of Packaging Co. of America by 0.7% in the fourth quarter. Principal Financial Group Inc. now owns 463,899 shares of the industrial products company’s stock worth $104,445,000 after acquiring an additional 3,381 shares during the period. Hedge funds and other institutional investors own 89.78% of the company’s stock.

Packaging Co. of America Price Performance

Shares of Packaging Co. of America stock opened at $189.39 on Tuesday. The stock has a 50 day moving average of $189.32 and a 200 day moving average of $207.24. Packaging Co. of America has a 12 month low of $172.72 and a 12 month high of $250.82. The firm has a market cap of $17.04 billion, a PE ratio of 21.21, a PEG ratio of 2.41 and a beta of 0.84. The company has a current ratio of 2.95, a quick ratio of 1.98 and a debt-to-equity ratio of 0.58.

Packaging Co. of America (NYSE:PKG) last released its earnings results on Tuesday, April 22nd. The industrial products company reported $2.31 earnings per share for the quarter, beating the consensus estimate of $2.21 by $0.10. The firm had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $2.12 billion. Packaging Co. of America had a return on equity of 19.67% and a net margin of 9.60%. On average, research analysts expect that Packaging Co. of America will post 10.44 EPS for the current fiscal year.

Packaging Co. of America Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Friday, June 13th will be paid a $1.25 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $5.00 dividend on an annualized basis and a yield of 2.64%. Packaging Co. of America’s dividend payout ratio is currently 52.30%.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. Wall Street Zen cut Packaging Co. of America from a “buy” rating to a “hold” rating in a research report on Sunday, April 6th. Truist Financial decreased their target price on shares of Packaging Co. of America from $265.00 to $238.00 and set a “buy” rating on the stock in a research note on Tuesday, April 22nd. UBS Group initiated coverage on shares of Packaging Co. of America in a research report on Wednesday, June 4th. They issued a “neutral” rating and a $200.00 price target for the company. Wells Fargo & Company restated an “equal weight” rating and set a $180.00 price objective (down from $205.00) on shares of Packaging Co. of America in a research report on Friday, May 9th. Finally, Jefferies Financial Group lowered Packaging Co. of America from a “buy” rating to a “hold” rating and cut their price target for the stock from $245.00 to $205.00 in a research note on Monday. Five research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $209.67.

About Packaging Co. of America

Packaging Corporation of America engages in the production of container products. It operates through the following segments: Packaging, Paper, and Corporate and Other. The Packaging segment offers a variety of corrugated packaging products, such as conventional shipping containers. The Paper segment manufactures and sells a range of papers, including communication-based papers, and pressure sensitive papers.