Packaging Co. of America (NYSE:PKG) Shares Sold by IFM Investors Pty Ltd

IFM Investors Pty Ltd trimmed its stake in shares of Packaging Co. of America (NYSE:PKG) by 4.2% during the third quarter, Holdings Channel reports. The firm owned 18,344 shares of the industrial products company’s stock after selling 812 shares during the period. IFM Investors Pty Ltd’s holdings in Packaging Co. of America were worth $3,951,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Register Financial Advisors LLC bought a new position in Packaging Co. of America during the 1st quarter worth $25,000. Central Pacific Bank Trust Division bought a new position in shares of Packaging Co. of America during the third quarter worth about $32,000. Asset Dedication LLC grew its position in shares of Packaging Co. of America by 200.0% during the second quarter. Asset Dedication LLC now owns 168 shares of the industrial products company’s stock worth $31,000 after acquiring an additional 112 shares during the last quarter. Tortoise Investment Management LLC acquired a new stake in shares of Packaging Co. of America in the 2nd quarter worth about $33,000. Finally, Headlands Technologies LLC bought a new stake in Packaging Co. of America in the 1st quarter valued at about $43,000. Institutional investors own 89.78% of the company’s stock.

Packaging Co. of America Price Performance

NYSE PKG opened at $225.86 on Friday. Packaging Co. of America has a 12 month low of $148.50 and a 12 month high of $231.30. The firm has a market capitalization of $20.28 billion, a PE ratio of 28.23, a P/E/G ratio of 4.24 and a beta of 0.77. The company’s 50 day simple moving average is $212.04 and its 200 day simple moving average is $194.21. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.43 and a quick ratio of 1.71.

Packaging Co. of America (NYSE:PKG) last issued its quarterly earnings results on Tuesday, October 22nd. The industrial products company reported $2.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.50 by $0.15. Packaging Co. of America had a return on equity of 19.35% and a net margin of 9.46%. The company had revenue of $2.18 billion for the quarter, compared to analysts’ expectations of $2.09 billion. During the same period last year, the firm earned $2.05 EPS. The firm’s revenue for the quarter was up 14.9% on a year-over-year basis. As a group, equities research analysts forecast that Packaging Co. of America will post 8.77 EPS for the current fiscal year.

Packaging Co. of America Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Tuesday, October 15th were given a $1.25 dividend. This represents a $5.00 annualized dividend and a yield of 2.21%. The ex-dividend date was Monday, September 16th. Packaging Co. of America’s dividend payout ratio (DPR) is presently 62.50%.

Analyst Ratings Changes

Several research analysts have commented on PKG shares. Citigroup upped their target price on shares of Packaging Co. of America from $199.00 to $221.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 2nd. Truist Financial reissued a “buy” rating and issued a $252.00 price objective (up from $242.00) on shares of Packaging Co. of America in a report on Thursday. StockNews.com raised Packaging Co. of America from a “hold” rating to a “buy” rating in a research note on Tuesday, October 22nd. Finally, Wells Fargo & Company increased their price target on Packaging Co. of America from $235.00 to $253.00 and gave the stock an “overweight” rating in a research note on Thursday. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $221.60.

Packaging Co. of America Company 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.