Packaging Co. of America (NYSE:PKG) Shares Sold by Bokf Na

Bokf Na lowered its position in shares of Packaging Co. of America (NYSE:PKG) by 26.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 41,330 shares of the industrial products company’s stock after selling 15,197 shares during the period. Bokf Na’s holdings in Packaging Co. of America were worth $7,801,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of PKG. Norges Bank acquired a new position in shares of Packaging Co. of America during the fourth quarter worth $163,314,000. Balyasny Asset Management L.P. boosted its stake in Packaging Co. of America by 175.3% in the fourth quarter. Balyasny Asset Management L.P. now owns 438,285 shares of the industrial products company’s stock valued at $71,401,000 after acquiring an additional 279,059 shares in the last quarter. Retirement Systems of Alabama boosted its stake in Packaging Co. of America by 1,133.4% in the fourth quarter. Retirement Systems of Alabama now owns 250,752 shares of the industrial products company’s stock valued at $40,850,000 after acquiring an additional 230,422 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in Packaging Co. of America by 31.9% in the fourth quarter. Goldman Sachs Group Inc. now owns 783,619 shares of the industrial products company’s stock valued at $127,659,000 after acquiring an additional 189,401 shares in the last quarter. Finally, Boston Partners boosted its stake in Packaging Co. of America by 20.1% in the fourth quarter. Boston Partners now owns 968,816 shares of the industrial products company’s stock valued at $157,836,000 after acquiring an additional 162,420 shares in the last quarter. Institutional investors and hedge funds own 89.78% of the company’s stock.

Packaging Co. of America Stock Performance

Shares of NYSE:PKG traded up $4.76 on Friday, reaching $199.00. The company’s stock had a trading volume of 745,432 shares, compared to its average volume of 592,215. The stock’s 50-day moving average is $184.62 and its two-hundred day moving average is $179.43. Packaging Co. of America has a 52-week low of $143.82 and a 52-week high of $199.42. 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 has a market capitalization of $17.87 billion, a P/E ratio of 24.88, a PEG ratio of 5.26 and a beta of 0.77.

Packaging Co. of America (NYSE:PKG) last announced its earnings results on Tuesday, July 23rd. The industrial products company reported $2.20 EPS for the quarter, beating analysts’ consensus estimates of $2.14 by $0.06. Packaging Co. of America had a net margin of 9.06% and a return on equity of 18.39%. The business had revenue of $2.08 billion during the quarter, compared to analysts’ expectations of $2.02 billion. During the same period in the prior year, the company earned $2.31 earnings per share. The business’s revenue was up 6.3% compared to the same quarter last year. As a group, sell-side analysts forecast that Packaging Co. of America will post 8.62 EPS for the current year.

Packaging Co. of America Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Friday, June 14th were given a $1.25 dividend. The ex-dividend date of this dividend was Friday, June 14th. This represents a $5.00 dividend on an annualized basis and a yield of 2.51%. Packaging Co. of America’s payout ratio is currently 62.50%.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. Wells Fargo & Company upped their price objective on shares of Packaging Co. of America from $194.00 to $215.00 and gave the company an “overweight” rating in a research note on Thursday. Bank of America upped their price objective on shares of Packaging Co. of America from $197.00 to $200.00 and gave the company a “buy” rating in a research note on Monday, June 17th. Truist Financial upped their price objective on shares of Packaging Co. of America from $215.00 to $219.00 and gave the company a “buy” rating in a research note on Thursday. Citigroup upped their price objective on shares of Packaging Co. of America from $181.00 to $187.00 and gave the company a “neutral” rating in a research note on Monday, July 8th. Finally, BNP Paribas cut shares of Packaging Co. of America from an “outperform” rating to a “neutral” rating and set a $182.00 target price for the company. in a report on Friday, April 12th. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $190.50.

Insider Activity at Packaging Co. of America

In other news, Director Karen E. Gowland acquired 300 shares of Packaging Co. of America stock in a transaction that occurred on Wednesday, May 15th. The stock was purchased at an average price of $182.06 per share, for a total transaction of $54,618.00. Following the completion of the transaction, the director now directly owns 916 shares in the company, valued at $166,766.96. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 1.60% of the stock is owned by insiders.

Packaging Co. of America Profile

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.