Packaging Co. of America (NYSE:PKG) Shares Purchased by Dai ichi Life Insurance Company Ltd

Dai ichi Life Insurance Company Ltd boosted its stake in Packaging Co. of America (NYSE:PKG) by 10.5% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 35,193 shares of the industrial products company’s stock after acquiring an additional 3,355 shares during the period. Dai ichi Life Insurance Company Ltd’s holdings in Packaging Co. of America were worth $6,425,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Coldstream Capital Management Inc. increased its position in Packaging Co. of America by 1.4% in the 2nd quarter. Coldstream Capital Management Inc. now owns 3,859 shares of the industrial products company’s stock valued at $704,000 after acquiring an additional 54 shares during the period. Daiwa Securities Group Inc. increased its position in Packaging Co. of America by 0.6% during the 2nd quarter. Daiwa Securities Group Inc. now owns 9,713 shares of the industrial products company’s stock worth $1,773,000 after purchasing an additional 56 shares during the period. Tokio Marine Asset Management Co. Ltd. increased its position in Packaging Co. of America by 2.8% during the 1st quarter. Tokio Marine Asset Management Co. Ltd. now owns 2,160 shares of the industrial products company’s stock worth $410,000 after purchasing an additional 59 shares during the period. Deseret Mutual Benefit Administrators increased its position in Packaging Co. of America by 22.4% during the 2nd quarter. Deseret Mutual Benefit Administrators now owns 322 shares of the industrial products company’s stock worth $59,000 after purchasing an additional 59 shares during the period. Finally, Kentucky Retirement Systems Insurance Trust Fund increased its position in Packaging Co. of America by 2.4% during the 4th quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 3,193 shares of the industrial products company’s stock worth $520,000 after purchasing an additional 75 shares during the period. Institutional investors and hedge funds own 89.78% of the company’s stock.

Insider Activity at Packaging Co. of America

In related news, EVP Charles J. Carter sold 5,389 shares of the company’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 sale, 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 filing with the SEC, which is available through this link. In other Packaging Co. of America news, SVP Donald R. Shirley sold 6,000 shares of the stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $196.28, for a total transaction of $1,177,680.00. Following the transaction, the senior vice president now owns 20,772 shares of the company’s stock, valued at approximately $4,077,128.16. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Charles J. Carter sold 5,389 shares of the stock in a transaction 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 approximately $5,012,794.92. The disclosure for this sale can be found here. 1.60% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on PKG. Citigroup boosted their target price on Packaging Co. of America from $181.00 to $187.00 and gave the stock a “neutral” rating in a research report on Monday, July 8th. Bank of America boosted their target price on Packaging Co. of America from $197.00 to $200.00 and gave the stock a “buy” rating in a research report on Monday, June 17th. Truist Financial boosted their target price on Packaging Co. of America from $215.00 to $219.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Wells Fargo & Company boosted their target price on Packaging Co. of America from $194.00 to $215.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. Finally, StockNews.com lowered Packaging Co. of America from a “buy” rating to a “hold” rating in a research note on Wednesday. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $190.50.

Packaging Co. of America Price Performance

Shares of NYSE:PKG opened at $210.27 on Friday. The business’s 50 day simple moving average is $197.12 and its 200-day simple moving average is $187.61. The firm has a market capitalization of $18.88 billion, a price-to-earnings ratio of 26.28, a price-to-earnings-growth ratio of 4.03 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 has a 12 month low of $143.82 and a 12 month high of $211.90.

Packaging Co. of America (NYSE:PKG) last posted its earnings results on Tuesday, July 23rd. The industrial products company reported $2.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.14 by $0.06. Packaging Co. of America had a return on equity of 18.21% and a net margin of 9.06%. The firm had revenue of $2.08 billion for the quarter, compared to analyst estimates of $2.02 billion. During the same quarter in the prior year, the company earned $2.31 EPS. Packaging Co. of America’s revenue was up 6.3% on a year-over-year basis. As a group, equities analysts forecast that Packaging Co. of America will post 8.72 earnings per share for the current fiscal year.

Packaging Co. of America Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 16th will be paid a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a yield of 2.38%. The ex-dividend date of this dividend is Monday, September 16th. Packaging Co. of America’s payout ratio is currently 62.50%.

Packaging Co. of America 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.