Andra AP fonden Sells 8,200 Shares of Packaging Co. of America (NYSE:PKG)

Andra AP fonden lessened its position in Packaging Co. of America (NYSE:PKG) by 10.6% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 69,000 shares of the industrial products company’s stock after selling 8,200 shares during the quarter. Andra AP fonden’s holdings in Packaging Co. of America were worth $12,597,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. Register Financial Advisors LLC purchased a new position in Packaging Co. of America during the first quarter valued at $25,000. Neo Ivy Capital Management purchased a new position in Packaging Co. of America during the 4th quarter valued at about $28,000. Asset Dedication LLC lifted its position in Packaging Co. of America by 200.0% during the 2nd quarter. Asset Dedication LLC now owns 168 shares of the industrial products company’s stock valued at $31,000 after acquiring an additional 112 shares during the period. Tortoise Investment Management LLC bought a new stake in Packaging Co. of America during the second quarter worth about $33,000. Finally, Headlands Technologies LLC purchased a new stake in Packaging Co. of America in the first quarter worth about $43,000. 89.78% of the stock is currently owned by institutional investors.

Packaging Co. of America Price Performance

NYSE PKG opened at $205.04 on Wednesday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.71 and a current ratio of 2.43. The company has a market capitalization of $18.41 billion, a price-to-earnings ratio of 25.63, a PEG ratio of 5.21 and a beta of 0.77. The stock has a 50-day moving average of $195.39 and a 200 day moving average of $187.00. Packaging Co. of America has a one year low of $143.82 and a one year high of $210.11.

Packaging Co. of America (NYSE:PKG) last issued its quarterly earnings data on Tuesday, July 23rd. The industrial products company reported $2.20 earnings per share 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 18.21%. The company had revenue of $2.08 billion for the quarter, compared to the consensus estimate of $2.02 billion. During the same quarter in the prior year, the firm earned $2.31 earnings per share. The firm’s revenue for the quarter was up 6.3% compared to the same quarter last year. On average, sell-side analysts forecast that Packaging Co. of America will post 8.72 EPS for the current year.

Packaging Co. of America Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Tuesday, October 15th will be issued a $1.25 dividend. This represents a $5.00 annualized dividend and a dividend yield of 2.44%. The ex-dividend date is Monday, September 16th. Packaging Co. of America’s payout ratio is currently 62.50%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on PKG. Wells Fargo & Company lifted their target price on shares of Packaging Co. of America from $194.00 to $215.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. Citigroup lifted their price objective on 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. Truist Financial increased their target price on Packaging Co. of America from $215.00 to $219.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. Bank of America lifted their price target on 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. Finally, StockNews.com cut shares of Packaging Co. of America from a “buy” rating to a “hold” rating in a research note on Wednesday, August 28th. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $190.50.

Insider Activity at Packaging Co. of America

In other Packaging Co. of America news, SVP Donald R. Shirley sold 6,000 shares of the firm’s stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $196.28, for a total value of $1,177,680.00. Following the transaction, the senior vice president now directly owns 20,772 shares of the company’s stock, valued at $4,077,128.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Packaging Co. of America news, EVP Charles J. Carter sold 5,389 shares of the company’s stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $196.28, for a total transaction of $1,057,752.92. Following the completion of the sale, the executive vice president now directly owns 25,539 shares of the company’s stock, valued at $5,012,794.92. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Donald R. Shirley sold 6,000 shares of the stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $196.28, for a total transaction of $1,177,680.00. Following the completion of the transaction, the senior vice president now owns 20,772 shares in the company, valued at $4,077,128.16. The disclosure for this sale can be found here. 1.60% of the stock is owned by company insiders.

About Packaging Co. of America

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.