KBC Group NV Sells 7,098 Shares of Packaging Co. of America (NYSE:PKG)

KBC Group NV lowered its stake in Packaging Co. of America (NYSE:PKG) by 7.8% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 83,629 shares of the industrial products company’s stock after selling 7,098 shares during the quarter. KBC Group NV’s holdings in Packaging Co. of America were worth $18,827,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Central Pacific Bank Trust Division purchased a new stake in Packaging Co. of America during the 3rd quarter valued at $32,000. Larson Financial Group LLC raised its stake in shares of Packaging Co. of America by 234.7% during the third quarter. Larson Financial Group LLC now owns 164 shares of the industrial products company’s stock valued at $35,000 after acquiring an additional 115 shares during the last quarter. Fortitude Family Office LLC boosted its holdings in shares of Packaging Co. of America by 150.8% during the fourth quarter. Fortitude Family Office LLC now owns 163 shares of the industrial products company’s stock worth $37,000 after purchasing an additional 98 shares during the period. Assetmark Inc. grew its stake in shares of Packaging Co. of America by 44.6% in the third quarter. Assetmark Inc. now owns 269 shares of the industrial products company’s stock worth $58,000 after purchasing an additional 83 shares during the last quarter. Finally, Brooklyn Investment Group purchased a new position in Packaging Co. of America during the 3rd quarter valued at about $64,000. Hedge funds and other institutional investors own 89.78% of the company’s stock.

Packaging Co. of America Trading Down 0.4 %

Shares of NYSE PKG opened at $238.71 on Wednesday. The stock has a market cap of $21.44 billion, a P/E ratio of 27.82, a price-to-earnings-growth ratio of 2.36 and a beta of 0.79. 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 $159.57 and a 1 year high of $250.82. The firm has a 50-day moving average of $235.89 and a 200 day moving average of $220.08.

Packaging Co. of America (NYSE:PKG) last issued its quarterly earnings results on Tuesday, January 28th. The industrial products company reported $2.47 EPS for the quarter, missing analysts’ consensus estimates of $2.51 by ($0.04). Packaging Co. of America had a return on equity of 19.10% and a net margin of 9.46%. As a group, sell-side analysts expect that Packaging Co. of America will post 9.08 EPS for the current fiscal year.

Packaging Co. of America Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders 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 dividend yield of 2.09%. Packaging Co. of America’s payout ratio is presently 58.28%.

Insider Transactions at Packaging Co. of America

In other news, SVP Donald R. Shirley sold 8,000 shares of the business’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $240.20, for a total value of $1,921,600.00. Following the completion of the transaction, the senior vice president now owns 15,725 shares in the company, valued at $3,777,145. The trade was a 33.72 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Joseph Vaughn sold 2,300 shares of the stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $244.89, for a total value 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. This trade represents a 20.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 33,300 shares of company stock valued at $8,064,152 in the last quarter. 1.60% of the stock is owned by insiders.

Wall Street Analyst Weigh In

PKG has been the subject of several research analyst reports. Truist Financial increased their price objective on Packaging Co. of America from $252.00 to $282.00 and gave the stock a “buy” rating in a report on Monday, January 6th. Citigroup lifted their price target on shares of Packaging Co. of America from $232.00 to $235.00 and gave the company a “neutral” rating in a report on Monday, January 6th. Jefferies Financial Group upgraded shares of Packaging Co. of America from a “hold” rating to a “buy” rating and upped their price objective for the stock from $215.00 to $280.00 in a report on Wednesday, December 18th. StockNews.com raised shares of Packaging Co. of America from a “hold” rating to a “buy” rating in a research report on Tuesday, December 24th. Finally, Wells Fargo & Company boosted their price target on shares of Packaging Co. of America from $235.00 to $253.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $238.67.

Packaging Co. of America Company 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.