Park Place Capital Corp Trims Stock Holdings in Packaging Co. of America (NYSE:PKG)

Park Place Capital Corp decreased its holdings in Packaging Co. of America (NYSE:PKG) by 45.9% in the 1st quarter, Holdings Channel.com reports. The firm owned 248 shares of the industrial products company’s stock after selling 210 shares during the period. Park Place Capital Corp’s holdings in Packaging Co. of America were worth $47,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently modified their holdings of PKG. Norges Bank purchased a new position in shares of Packaging Co. of America in the fourth quarter worth about $163,314,000. Balyasny Asset Management L.P. grew its stake in Packaging Co. of America by 175.3% during the fourth quarter. Balyasny Asset Management L.P. now owns 438,285 shares of the industrial products company’s stock valued at $71,401,000 after acquiring an additional 279,059 shares in the last quarter. Retirement Systems of Alabama grew its stake in Packaging Co. of America by 1,133.4% during the fourth quarter. Retirement Systems of Alabama now owns 250,752 shares of the industrial products company’s stock valued at $40,850,000 after acquiring an additional 230,422 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in Packaging Co. of America by 31.9% during the fourth quarter. Goldman Sachs Group Inc. now owns 783,619 shares of the industrial products company’s stock valued at $127,659,000 after acquiring an additional 189,401 shares in the last quarter. Finally, Boston Partners grew its stake in Packaging Co. of America by 20.1% during the fourth quarter. Boston Partners now owns 968,816 shares of the industrial products company’s stock valued at $157,836,000 after acquiring an additional 162,420 shares in the last quarter. Hedge funds and other institutional investors own 89.78% of the company’s stock.

Analyst Upgrades and Downgrades

PKG has been the subject of several recent analyst reports. Truist Financial boosted their price objective on shares of Packaging Co. of America from $191.00 to $208.00 and gave the company a “buy” rating in a research note on Thursday, May 30th. BNP Paribas cut shares of Packaging Co. of America from an “outperform” rating to a “neutral” rating and set a $182.00 price objective for the company. in a research note on Friday, April 12th. StockNews.com raised shares of Packaging Co. of America from a “hold” rating to a “buy” rating in a research note on Tuesday, May 21st. Wells Fargo & Company raised shares of Packaging Co. of America from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $187.00 to $191.00 in a research note on Wednesday, April 24th. Finally, Bank of America increased their price target on shares of Packaging Co. of America from $197.00 to $200.00 and gave the stock a “buy” rating in a report on Monday, June 17th. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $183.67.

Packaging Co. of America Price Performance

Shares of NYSE:PKG opened at $180.06 on Tuesday. Packaging Co. of America has a one year low of $127.69 and a one year high of $191.39. The firm has a market capitalization of $16.17 billion, a price-to-earnings ratio of 22.51, a PEG ratio of 4.94 and a beta of 0.77. The company’s fifty day moving average price is $181.14 and its 200-day moving average price is $176.60. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.46 and a quick ratio of 1.74.

Packaging Co. of America (NYSE:PKG) last announced its quarterly earnings data on Tuesday, April 23rd. The industrial products company reported $1.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.63 by $0.09. Packaging Co. of America had a net margin of 9.25% and a return on equity of 18.80%. The company had revenue of $1.98 billion during the quarter, compared to analysts’ expectations of $1.91 billion. During the same quarter in the prior year, the company earned $2.20 EPS. The firm’s revenue was up .2% on a year-over-year basis. On average, equities research analysts anticipate that Packaging Co. of America will post 8.33 earnings per share for the current fiscal year.

Packaging Co. of America Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 14th will be paid a $1.25 dividend. The ex-dividend date of this dividend is Friday, June 14th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.78%. Packaging Co. of America’s dividend payout ratio (DPR) is 62.50%.

Insider Activity

In other Packaging Co. of America news, Director Karen E. Gowland acquired 300 shares of the business’s stock in a transaction dated Wednesday, May 15th. The stock was bought at an average price of $182.06 per share, with a total value of $54,618.00. Following the purchase, the director now owns 916 shares of the company’s stock, valued at $166,766.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.70% of the stock is owned by corporate insiders.

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.