Packaging Co. of America (NYSE:PKG) Shares Sold by ING Groep NV

ING Groep NV reduced its position in Packaging Co. of America (NYSE:PKG) by 22.5% during the 4th quarter, HoldingsChannel.com reports. The firm owned 99,603 shares of the industrial products company’s stock after selling 28,859 shares during the quarter. ING Groep NV’s holdings in Packaging Co. of America were worth $22,424,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of PKG. Larson Financial Group LLC lifted its stake in shares of Packaging Co. of America by 234.7% in the 3rd quarter. Larson Financial Group LLC now owns 164 shares of the industrial products company’s stock valued at $35,000 after purchasing an additional 115 shares in the last quarter. Fortitude Family Office LLC lifted its stake in shares of Packaging Co. of America by 150.8% in the 4th quarter. Fortitude Family Office LLC now owns 163 shares of the industrial products company’s stock valued at $37,000 after purchasing an additional 98 shares in the last quarter. Golden State Wealth Management LLC acquired a new position in shares of Packaging Co. of America in the 4th quarter valued at about $48,000. Assetmark Inc. lifted its stake in shares of Packaging Co. of America by 44.6% in the 3rd quarter. Assetmark Inc. now owns 269 shares of the industrial products company’s stock valued at $58,000 after purchasing an additional 83 shares in the last quarter. Finally, Brooklyn Investment Group acquired a new position in shares of Packaging Co. of America in the 3rd quarter valued at about $64,000. 89.78% of the stock is owned by institutional investors and hedge funds.

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. 1.60% of the stock is owned by company insiders.

Packaging Co. of America Price Performance

PKG stock opened at $209.49 on Friday. The company has a quick ratio of 1.98, a current ratio of 2.95 and a debt-to-equity ratio of 0.58. Packaging Co. of America has a 52-week low of $169.00 and a 52-week high of $250.82. The stock’s 50 day moving average is $224.69 and its two-hundred day moving average is $221.71. The company has a market capitalization of $18.81 billion, a PE ratio of 23.46, a P/E/G ratio of 2.44 and a beta of 0.77.

Packaging Co. of America (NYSE:PKG) last posted its quarterly earnings data on Tuesday, January 28th. The industrial products company reported $2.47 earnings per share (EPS) for the quarter, missing the consensus estimate 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%. Analysts predict that Packaging Co. of America will post 10.44 earnings per share for the current fiscal year.

Packaging Co. of America Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Friday, December 20th were issued a dividend of $1.25 per share. The ex-dividend date of this dividend was Friday, December 20th. This represents a $5.00 annualized dividend and a yield of 2.39%. Packaging Co. of America’s dividend payout ratio is presently 55.99%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Truist Financial reaffirmed a “buy” rating and issued a $265.00 price objective (down from $282.00) on shares of Packaging Co. of America in a research note on Thursday, January 30th. Jefferies Financial Group upgraded Packaging Co. of America from a “hold” rating to a “buy” rating and raised their target price for the company from $215.00 to $280.00 in a report on Wednesday, December 18th. Seaport Res Ptn upgraded Packaging Co. of America from a “hold” rating to a “strong-buy” rating in a report on Thursday, February 13th. Wells Fargo & Company dropped their target price on Packaging Co. of America from $253.00 to $236.00 and set an “overweight” rating on the stock in a report on Thursday, January 30th. Finally, StockNews.com downgraded Packaging Co. of America from a “buy” rating to a “hold” rating in a report on Wednesday, January 29th. Three analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $233.00.

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.