Banque Cantonale Vaudoise Sells 1,600 Shares of Packaging Co. of America (NYSE:PKG)

Posted by John Perry on May 26th, 2023

Banque Cantonale Vaudoise reduced its stake in shares of Packaging Co. of America (NYSE:PKG – Get Rating) by 32.9% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 3,262 shares of the industrial products company’s stock after selling 1,600 shares during the period. Banque Cantonale Vaudoise’s holdings in Packaging Co. of America were worth $417,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Aviva PLC increased its holdings in Packaging Co. of America by 57.0% during the 4th quarter. Aviva PLC now owns 20,166 shares of the industrial products company’s stock worth $10,999,000 after purchasing an additional 7,320 shares in the last quarter. Victory Capital Management Inc. increased its holdings in Packaging Co. of America by 4.0% during the 4th quarter. Victory Capital Management Inc. now owns 3,261,223 shares of the industrial products company’s stock worth $417,143,000 after purchasing an additional 125,498 shares in the last quarter. Argent Trust Co increased its holdings in Packaging Co. of America by 11.7% during the 4th quarter. Argent Trust Co now owns 5,244 shares of the industrial products company’s stock worth $671,000 after purchasing an additional 551 shares in the last quarter. Advisor Group Holdings Inc. increased its holdings in Packaging Co. of America by 63.8% during the 4th quarter. Advisor Group Holdings Inc. now owns 30,622 shares of the industrial products company’s stock worth $3,918,000 after purchasing an additional 11,928 shares in the last quarter. Finally, Cim LLC increased its holdings in Packaging Co. of America by 3.6% during the 4th quarter. Cim LLC now owns 11,253 shares of the industrial products company’s stock worth $1,577,000 after purchasing an additional 390 shares in the last quarter. 90.39% of the stock is owned by institutional investors.

Packaging Co. of America Price Performance

Packaging Co. of America stock opened at $127.33 on Friday. Packaging Co. of America has a 12 month low of $110.56 and a 12 month high of $162.93. The company has a current ratio of 3.12, a quick ratio of 1.91 and a debt-to-equity ratio of 0.66. The business’s 50 day simple moving average is $135.46 and its 200 day simple moving average is $134.53. The company has a market cap of $11.45 billion, a price-to-earnings ratio of 12.22, a PEG ratio of 3.14 and a beta of 0.87.

Packaging Co. of America (NYSE:PKG – Get Rating) last posted its quarterly earnings data on Tuesday, April 25th. The industrial products company reported $2.20 EPS for the quarter, missing the consensus estimate of $2.27 by ($0.07). The firm had revenue of $1.98 billion during the quarter, compared to analysts’ expectations of $2.08 billion. Packaging Co. of America had a net margin of 11.61% and a return on equity of 25.59%. Packaging Co. of America’s revenue for the quarter was down 7.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.72 EPS. Sell-side analysts forecast that Packaging Co. of America will post 8.12 EPS for the current year.

Packaging Co. of America Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, July 14th. Shareholders of record on Thursday, June 15th will be given a dividend of $1.25 per share. The ex-dividend date is Wednesday, June 14th. This represents a $5.00 dividend on an annualized basis and a yield of 3.93%. Packaging Co. of America’s payout ratio is 47.98%.

Analyst Ratings Changes

PKG has been the subject of a number of recent research reports. StockNews.com initiated coverage on Packaging Co. of America in a report on Thursday, May 18th. They set a “hold” rating for the company. Wells Fargo & Company cut their target price on Packaging Co. of America from $135.00 to $126.00 in a research note on Wednesday, April 26th. 22nd Century Group restated a “maintains” rating on shares of Packaging Co. of America in a research note on Wednesday, April 26th. VNET Group restated a “maintains” rating on shares of Packaging Co. of America in a research note on Wednesday, April 26th. Finally, Bank of America boosted their target price on Packaging Co. of America from $149.00 to $150.00 and gave the stock a “neutral” rating in a research note on Thursday, April 20th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $127.29.

Packaging Co. of America Company Profile

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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.