Mn Services Vermogensbeheer B.V. Reduces Position in Packaging Co. of America (NYSE:PKG)

Mn Services Vermogensbeheer B.V. lowered its holdings in shares of Packaging Co. of America (NYSE:PKG) by 2.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 34,500 shares of the industrial products company’s stock after selling 700 shares during the quarter. Mn Services Vermogensbeheer B.V.’s holdings in Packaging Co. of America were worth $7,431,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Coldstream Capital Management Inc. lifted its position in Packaging Co. of America by 1.4% in the second quarter. Coldstream Capital Management Inc. now owns 3,859 shares of the industrial products company’s stock worth $704,000 after buying an additional 54 shares during the last quarter. Daiwa Securities Group Inc. raised its holdings in shares of Packaging Co. of America by 0.6% in the second quarter. Daiwa Securities Group Inc. now owns 9,713 shares of the industrial products company’s stock valued at $1,773,000 after acquiring an additional 56 shares in the last quarter. Moors & Cabot Inc. lifted its stake in Packaging Co. of America by 2.1% in the second quarter. Moors & Cabot Inc. now owns 2,689 shares of the industrial products company’s stock worth $491,000 after acquiring an additional 56 shares during the period. Evergreen Capital Management LLC grew its holdings in Packaging Co. of America by 2.4% during the 2nd quarter. Evergreen Capital Management LLC now owns 2,461 shares of the industrial products company’s stock worth $452,000 after acquiring an additional 57 shares in the last quarter. Finally, Tokio Marine Asset Management Co. Ltd. increased its position in Packaging Co. of America by 2.8% during the 1st quarter. Tokio Marine Asset Management Co. Ltd. now owns 2,160 shares of the industrial products company’s stock valued at $410,000 after purchasing an additional 59 shares during the period. 89.78% of the stock is owned by hedge funds and other institutional investors.

Packaging Co. of America Stock Up 1.1 %

PKG stock opened at $232.65 on Wednesday. The stock has a market capitalization of $20.89 billion, a PE ratio of 27.12, a price-to-earnings-growth ratio of 3.25 and a beta of 0.76. Packaging Co. of America has a 52 week low of $148.50 and a 52 week high of $232.98. The company has a quick ratio of 1.71, a current ratio of 2.43 and a debt-to-equity ratio of 0.60. The firm has a 50 day moving average of $215.37 and a 200 day moving average of $196.27.

Packaging Co. of America (NYSE:PKG) last posted its quarterly earnings data on Tuesday, October 22nd. The industrial products company reported $2.65 EPS for the quarter, topping the consensus estimate of $2.50 by $0.15. Packaging Co. of America had a net margin of 9.46% and a return on equity of 19.35%. The business had revenue of $2.18 billion during the quarter, compared to the consensus estimate of $2.09 billion. During the same period in the previous year, the firm posted $2.05 earnings per share. The business’s revenue for the quarter was up 14.9% compared to the same quarter last year. Sell-side analysts forecast that Packaging Co. of America will post 9 earnings per share for the current year.

Packaging Co. of America Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Tuesday, October 15th were issued a dividend of $1.25 per share. The ex-dividend date of this dividend was Monday, September 16th. This represents a $5.00 annualized dividend and a dividend yield of 2.15%. Packaging Co. of America’s dividend payout ratio (DPR) is presently 58.28%.

Analysts Set New Price Targets

A number of analysts have weighed in on PKG shares. Citigroup upped their target price on Packaging Co. of America from $199.00 to $221.00 and gave the stock a “neutral” rating in a report on Wednesday, October 2nd. Truist Financial restated a “buy” rating and set a $252.00 price objective (up from $242.00) on shares of Packaging Co. of America in a research note on Thursday, October 24th. Wells Fargo & Company lifted their target price on Packaging Co. of America from $235.00 to $253.00 and gave the company an “overweight” rating in a research note on Thursday, October 24th. Finally, StockNews.com lowered shares of Packaging Co. of America from a “buy” rating to a “hold” rating in a research report on Friday, November 1st. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $221.60.

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.