Livforsakringsbolaget Skandia Omsesidigt Trims Position in Packaging Co. of America (NYSE:PKG)

Livforsakringsbolaget Skandia Omsesidigt lowered its holdings in Packaging Co. of America (NYSE:PKG) by 7.6% in the fourth quarter, Holdings Channel.com reports. The firm owned 1,212 shares of the industrial products company’s stock after selling 100 shares during the period. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Packaging Co. of America were worth $274,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in Packaging Co. of America by 19.2% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 10,551 shares of the industrial products company’s stock valued at $2,375,000 after buying an additional 1,699 shares during the period. Strategic Financial Concepts LLC acquired a new stake in shares of Packaging Co. of America in the fourth quarter worth approximately $6,966,000. Oakworth Capital Inc. grew its holdings in Packaging Co. of America by 1,404.8% in the fourth quarter. Oakworth Capital Inc. now owns 316 shares of the industrial products company’s stock valued at $71,000 after purchasing an additional 295 shares during the period. Buck Wealth Strategies LLC increased its position in Packaging Co. of America by 59.7% during the fourth quarter. Buck Wealth Strategies LLC now owns 3,818 shares of the industrial products company’s stock worth $860,000 after purchasing an additional 1,427 shares during the last quarter. Finally, Bleakley Financial Group LLC raised its stake in Packaging Co. of America by 10.3% during the fourth quarter. Bleakley Financial Group LLC now owns 1,254 shares of the industrial products company’s stock worth $282,000 after purchasing an additional 117 shares during the period. 89.78% of the stock is currently owned by institutional investors and hedge funds.

Packaging Co. of America Price Performance

Shares of NYSE PKG opened at $210.03 on Friday. The company has a market capitalization of $18.86 billion, a price-to-earnings ratio of 23.52, a PEG ratio of 2.29 and a beta of 0.77. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.95 and a quick ratio of 1.98. Packaging Co. of America has a 1-year low of $163.68 and a 1-year high of $250.82. The business has a 50-day moving average of $230.33 and a 200-day moving average of $220.85.

Packaging Co. of America (NYSE:PKG) last released its quarterly earnings results on Tuesday, January 28th. The industrial products company reported $2.47 earnings per share for the quarter, missing analysts’ consensus estimates of $2.51 by ($0.04). Packaging Co. of America had a return on equity of 19.67% and a net margin of 9.60%. On average, equities analysts anticipate that Packaging Co. of America will post 11.15 EPS for the current fiscal year.

Packaging Co. of America Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Friday, December 20th were paid a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a yield of 2.38%. The ex-dividend date of this dividend was Friday, December 20th. Packaging Co. of America’s dividend payout ratio (DPR) is 55.99%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on PKG. Citigroup boosted their price objective on shares of Packaging Co. of America from $232.00 to $235.00 and gave the company a “neutral” rating in a research note on Monday, January 6th. Wells Fargo & Company lowered their price target on Packaging Co. of America from $253.00 to $236.00 and set an “overweight” rating for the company in a research report on Thursday, January 30th. StockNews.com downgraded Packaging Co. of America from a “buy” rating to a “hold” rating in a report on Wednesday, January 29th. Truist Financial reiterated a “buy” rating and set a $265.00 target price (down previously from $282.00) on shares of Packaging Co. of America in a report on Thursday, January 30th. Finally, Jefferies Financial Group upgraded shares of Packaging Co. of America from a “hold” rating to a “buy” rating and raised their price target for the company from $215.00 to $280.00 in a report on Wednesday, December 18th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $233.00.

Insiders Place Their Bets

In other Packaging Co. of America news, SVP Joseph Vaughn sold 2,300 shares of Packaging Co. of America stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $244.89, for a total transaction of $563,247.00. Following the sale, the senior vice president now directly owns 9,197 shares in the company, valued at $2,252,253.33. The trade was a 20.01 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Paul T. Stecko sold 10,500 shares of the company’s stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $244.91, for a total value of $2,571,555.00. Following the completion of the transaction, the director now directly owns 8,881 shares in the company, valued at approximately $2,175,045.71. The trade was a 54.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 20,800 shares of company stock worth $5,056,402 in the last quarter. 1.60% of the stock is owned by corporate insiders.

Packaging Co. of America Profile

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.