SG Americas Securities LLC Sells 6,149 Shares of Packaging Co. of America (NYSE:PKG)

SG Americas Securities LLC reduced its holdings in Packaging Co. of America (NYSE:PKGGet Rating) by 63.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,607 shares of the industrial products company’s stock after selling 6,149 shares during the quarter. SG Americas Securities LLC’s holdings in Packaging Co. of America were worth $563,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of PKG. McDonald Partners LLC acquired a new position in Packaging Co. of America during the first quarter valued at approximately $1,457,000. Park Avenue Securities LLC boosted its holdings in shares of Packaging Co. of America by 14.1% in the 1st quarter. Park Avenue Securities LLC now owns 5,267 shares of the industrial products company’s stock valued at $822,000 after purchasing an additional 650 shares in the last quarter. TriaGen Wealth Management LLC acquired a new stake in shares of Packaging Co. of America in the 1st quarter valued at $3,206,000. Daiwa Securities Group Inc. boosted its holdings in shares of Packaging Co. of America by 3.2% in the 1st quarter. Daiwa Securities Group Inc. now owns 5,685 shares of the industrial products company’s stock valued at $887,000 after purchasing an additional 174 shares in the last quarter. Finally, Nisa Investment Advisors LLC boosted its holdings in shares of Packaging Co. of America by 11.3% in the 1st quarter. Nisa Investment Advisors LLC now owns 21,150 shares of the industrial products company’s stock valued at $3,302,000 after purchasing an additional 2,150 shares in the last quarter. 91.01% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Deutsche Bank Aktiengesellschaft cut their target price on Packaging Co. of America from $158.00 to $144.00 in a report on Tuesday, July 19th. Truist Financial cut their target price on Packaging Co. of America to $175.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 27th. Argus boosted their target price on Packaging Co. of America from $160.00 to $176.00 in a research note on Friday, April 29th. Wells Fargo & Company lowered their target price on shares of Packaging Co. of America from $154.00 to $143.00 and set a “maintains” rating on the stock in a report on Wednesday, July 27th. Finally, Citigroup increased their target price on Packaging Co. of America from $144.00 to $147.00 and gave the company a “neutral” rating in a research note on Wednesday, July 27th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $156.57.

Insider Activity at Packaging Co. of America

In related news, Director Donna A. Harman acquired 500 shares of the stock in a transaction on Wednesday, May 25th. The stock was bought at an average cost of $153.21 per share, with a total value of $76,605.00. Following the transaction, the director now directly owns 2,725 shares in the company, valued at $417,497.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Packaging Co. of America news, CFO Robert P. Mundy sold 13,800 shares of the company’s stock in a transaction that occurred on Monday, June 6th. The shares were sold at an average price of $160.30, for a total transaction of $2,212,140.00. Following the transaction, the chief financial officer now owns 38,799 shares in the company, valued at approximately $6,219,479.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Donna A. Harman purchased 500 shares of the business’s stock in a transaction on Wednesday, May 25th. The shares were bought at an average price of $153.21 per share, for a total transaction of $76,605.00. Following the purchase, the director now directly owns 2,725 shares in the company, valued at approximately $417,497.25. The disclosure for this purchase can be found here. 1.60% of the stock is currently owned by insiders.

Packaging Co. of America Stock Performance

Shares of NYSE PKG opened at $139.15 on Thursday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.99 and a current ratio of 2.96. The company has a market cap of $13.04 billion, a P/E ratio of 12.87, a P/E/G ratio of 2.41 and a beta of 0.77. The firm’s fifty day moving average is $143.99 and its two-hundred day moving average is $149.34. Packaging Co. of America has a 52-week low of $124.78 and a 52-week high of $168.50.

Packaging Co. of America (NYSE:PKGGet Rating) last posted its earnings results on Monday, July 25th. The industrial products company reported $3.23 earnings per share for the quarter, topping analysts’ consensus estimates of $2.85 by $0.38. Packaging Co. of America had a net margin of 12.13% and a return on equity of 29.35%. The firm had revenue of $2.24 billion for the quarter, compared to the consensus estimate of $2.14 billion. During the same period in the previous year, the firm posted $2.17 EPS. The business’s quarterly revenue was up 19.0% on a year-over-year basis. As a group, analysts anticipate that Packaging Co. of America will post 11.54 EPS for the current fiscal year.

Packaging Co. of America Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, July 15th. Investors of record on Wednesday, June 15th were issued a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a yield of 3.59%. This is an increase from Packaging Co. of America’s previous quarterly dividend of $1.00. The ex-dividend date was Tuesday, June 14th. Packaging Co. of America’s dividend payout ratio is presently 46.25%.

Packaging Co. of America Company Profile

(Get Rating)

Packaging Corporation of America manufactures and sells containerboard and corrugated packaging products in the United States. The company operates through Packaging and Paper segments. 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.

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Institutional Ownership by Quarter for Packaging Co. of America (NYSE:PKG)

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