Swiss National Bank Trims Stock Position in Packaging Co. of America (NYSE:PKG)

Swiss National Bank lessened its position in shares of Packaging Co. of America (NYSE:PKG) by 4.6% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 268,300 shares of the industrial products company’s stock after selling 12,800 shares during the quarter. Swiss National Bank owned about 0.30% of Packaging Co. of America worth $50,918,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in PKG. Anchor Investment Management LLC purchased a new stake in shares of Packaging Co. of America during the 4th quarter valued at approximately $37,000. Wedmont Private Capital acquired a new stake in Packaging Co. of America in the 4th quarter valued at approximately $240,000. BKM Wealth Management LLC acquired a new stake in Packaging Co. of America in the 4th quarter valued at approximately $49,000. Rise Advisors LLC increased its holdings in Packaging Co. of America by 6.7% in the 4th quarter. Rise Advisors LLC now owns 1,423 shares of the industrial products company’s stock valued at $232,000 after purchasing an additional 89 shares during the last quarter. Finally, Raymond James Trust N.A. increased its holdings in Packaging Co. of America by 10.1% in the 4th quarter. Raymond James Trust N.A. now owns 5,649 shares of the industrial products company’s stock valued at $920,000 after purchasing an additional 520 shares during the last quarter. Hedge funds and other institutional investors own 89.78% of the company’s stock.

Insider Activity at Packaging Co. of America

In related news, Director Karen E. Gowland purchased 300 shares of Packaging Co. of America stock in a transaction that occurred on Wednesday, May 15th. The stock was purchased at an average cost of $182.06 per share, with a total value of $54,618.00. Following the completion of the transaction, the director now directly owns 916 shares in the company, valued at $166,766.96. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.60% of the stock is owned by corporate insiders.

Packaging Co. of America Stock Up 1.1 %

Shares of NYSE:PKG traded up $2.04 during trading on Monday, hitting $187.48. The company’s stock had a trading volume of 23,681 shares, compared to its average volume of 621,851. The business has a 50 day moving average price of $182.20 and a two-hundred day moving average price of $177.60. The company has a market capitalization of $16.84 billion, a PE ratio of 23.18, a P/E/G ratio of 5.02 and a beta of 0.77. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.74 and a current ratio of 2.46. Packaging Co. of America has a fifty-two week low of $132.70 and a fifty-two week high of $191.39.

Packaging Co. of America (NYSE:PKG) last announced its quarterly earnings results on Tuesday, April 23rd. The industrial products company reported $1.72 earnings per share 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 firm had revenue of $1.98 billion during the quarter, compared to analysts’ expectations of $1.91 billion. During the same period in the previous year, the company earned $2.20 earnings per share. Packaging Co. of America’s quarterly revenue was up .2% compared to the same quarter last year. As a group, research analysts expect that Packaging Co. of America will post 8.33 EPS for the current fiscal year.

Packaging Co. of America Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 14th will be given 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 yield of 2.67%. Packaging Co. of America’s dividend payout ratio (DPR) is presently 62.50%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on PKG. Wells Fargo & Company lifted their target price on shares of Packaging Co. of America from $191.00 to $194.00 and gave the company an “overweight” rating in a report on Wednesday, July 10th. BNP Paribas downgraded shares of Packaging Co. of America from an “outperform” rating to a “neutral” rating and set a $182.00 target price for the company. in a report on Friday, April 12th. Citigroup lifted their target price on shares of Packaging Co. of America from $181.00 to $187.00 and gave the company a “neutral” rating in a report on Monday, July 8th. StockNews.com upgraded shares of Packaging Co. of America from a “hold” rating to a “buy” rating in a report on Tuesday, May 21st. Finally, Truist Financial boosted their price target on shares of Packaging Co. of America from $191.00 to $208.00 and gave the stock a “buy” rating in a research note on Thursday, May 30th. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $185.17.

About Packaging Co. of America

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.