Pacer Advisors Inc. Has $1.17 Million Stock Holdings in Packaging Co. of America (NYSE:PKG)

Pacer Advisors Inc. lowered its stake in Packaging Co. of America (NYSE:PKG) by 20.7% during the second quarter, HoldingsChannel.com reports. The firm owned 6,393 shares of the industrial products company’s stock after selling 1,672 shares during the period. Pacer Advisors Inc.’s holdings in Packaging Co. of America were worth $1,167,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. CANADA LIFE ASSURANCE Co lifted its stake in Packaging Co. of America by 4.6% in the first quarter. CANADA LIFE ASSURANCE Co now owns 70,689 shares of the industrial products company’s stock valued at $13,419,000 after buying an additional 3,078 shares during the period. Mitsubishi UFJ Trust & Banking Corp raised its position in shares of Packaging Co. of America by 30.4% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 90,686 shares of the industrial products company’s stock valued at $17,168,000 after acquiring an additional 21,143 shares during the period. Cim LLC bought a new position in Packaging Co. of America during the 4th quarter worth approximately $2,003,000. Summit Financial Strategies Inc. grew its holdings in Packaging Co. of America by 5.5% during the second quarter. Summit Financial Strategies Inc. now owns 234,495 shares of the industrial products company’s stock valued at $42,809,000 after purchasing an additional 12,129 shares during the period. Finally, DekaBank Deutsche Girozentrale increased its stake in Packaging Co. of America by 6.8% in the first quarter. DekaBank Deutsche Girozentrale now owns 224,273 shares of the industrial products company’s stock valued at $41,839,000 after purchasing an additional 14,277 shares in the last quarter. 89.78% of the stock is currently owned by institutional investors.

Packaging Co. of America Stock Up 0.4 %

PKG stock opened at $215.67 on Friday. The business has a 50-day moving average of $202.87 and a 200-day moving average of $189.73. Packaging Co. of America has a fifty-two week low of $143.82 and a fifty-two week high of $217.69. The stock has a market capitalization of $19.37 billion, a P/E ratio of 26.96, a P/E/G ratio of 4.22 and a beta of 0.77. 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, July 23rd. The industrial products company reported $2.20 earnings per share for the quarter, topping the consensus estimate of $2.14 by $0.06. The company had revenue of $2.08 billion during the quarter, compared to analysts’ expectations of $2.02 billion. Packaging Co. of America had a net margin of 9.06% and a return on equity of 18.21%. The business’s quarterly revenue was up 6.3% on a year-over-year basis. During the same period last year, the business earned $2.31 EPS. On average, sell-side analysts anticipate that Packaging Co. of America will post 8.72 earnings per share for the current fiscal year.

Packaging Co. of America Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 16th will be paid a $1.25 dividend. The ex-dividend date is Monday, September 16th. This represents a $5.00 annualized dividend and a yield of 2.32%. Packaging Co. of America’s payout ratio is currently 62.50%.

Insiders Place Their Bets

In other Packaging Co. of America news, EVP Charles J. Carter sold 5,389 shares of the business’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $196.28, for a total transaction of $1,057,752.92. Following the transaction, the executive vice president now owns 25,539 shares of the company’s stock, valued at approximately $5,012,794.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, SVP Donald R. Shirley sold 6,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $196.28, for a total value of $1,177,680.00. Following the completion of the sale, the senior vice president now directly owns 20,772 shares of the company’s stock, valued at $4,077,128.16. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Charles J. Carter sold 5,389 shares of the business’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $196.28, for a total value of $1,057,752.92. Following the transaction, the executive vice president now directly owns 25,539 shares in the company, valued at $5,012,794.92. The disclosure for this sale can be found here. Insiders own 1.60% of the company’s stock.

Analyst Upgrades and Downgrades

PKG has been the topic of a number of recent analyst reports. StockNews.com cut shares of Packaging Co. of America from a “buy” rating to a “hold” rating in a research report on Saturday. Truist Financial lifted their target price on Packaging Co. of America from $215.00 to $219.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. Bank of America increased their price target on Packaging Co. of America from $197.00 to $200.00 and gave the stock a “buy” rating in a report on Monday, June 17th. Wells Fargo & Company lifted their price objective on Packaging Co. of America from $194.00 to $215.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. Finally, Citigroup increased their target price on Packaging Co. of America from $181.00 to $187.00 and gave the stock a “neutral” rating in a research note on Monday, July 8th. Five analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, Packaging Co. of America currently has an average rating of “Hold” and a consensus price target of $190.50.

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.