Packaging Co. of America (NYSE:PKG) Shares Sold by Pacer Advisors Inc.

Pacer Advisors Inc. cut its holdings in shares of Packaging Co. of America (NYSE:PKG) by 40.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 15,040 shares of the industrial products company’s stock after selling 10,394 shares during the quarter. Pacer Advisors Inc.’s holdings in Packaging Co. of America were worth $3,386,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Central Pacific Bank Trust Division acquired a new stake in Packaging Co. of America during the third quarter worth about $32,000. Larson Financial Group LLC increased its holdings in shares of Packaging Co. of America by 234.7% during the 3rd quarter. Larson Financial Group LLC now owns 164 shares of the industrial products company’s stock worth $35,000 after buying an additional 115 shares during the last quarter. Fortitude Family Office LLC raised its position in shares of Packaging Co. of America by 150.8% during the 4th quarter. Fortitude Family Office LLC now owns 163 shares of the industrial products company’s stock valued at $37,000 after buying an additional 98 shares during the period. Assetmark Inc. lifted its holdings in Packaging Co. of America by 44.6% in the third quarter. Assetmark Inc. now owns 269 shares of the industrial products company’s stock valued at $58,000 after acquiring an additional 83 shares during the last quarter. Finally, Brooklyn Investment Group purchased a new position in Packaging Co. of America in the third quarter worth approximately $64,000. Hedge funds and other institutional investors own 89.78% of the company’s stock.

Insider Transactions at Packaging Co. of America

In other news, SVP Joseph Vaughn sold 2,300 shares of the firm’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $244.89, for a total value of $563,247.00. Following the completion of the sale, the senior vice president now owns 9,197 shares in the company, valued at approximately $2,252,253.33. This trade represents a 20.01 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Robert P. Mundy sold 12,500 shares of the business’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $240.62, for a total transaction of $3,007,750.00. Following the transaction, the chief financial officer now owns 43,954 shares in the company, valued at approximately $10,576,211.48. This trade represents a 22.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 33,300 shares of company stock worth $8,064,152. Company insiders own 1.60% of the company’s stock.

Packaging Co. of America Price Performance

Shares of PKG opened at $214.22 on Friday. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.95 and a quick ratio of 1.98. Packaging Co. of America has a 1-year low of $159.57 and a 1-year high of $250.82. The stock has a market cap of $19.24 billion, a PE ratio of 24.97, a price-to-earnings-growth ratio of 2.36 and a beta of 0.79. The firm has a fifty day moving average price of $234.69 and a 200 day moving average price of $220.01.

Packaging Co. of America (NYSE:PKG) last issued its quarterly earnings data on Tuesday, January 28th. The industrial products company reported $2.47 earnings per share for the quarter, missing analysts’ consensus estimates of $2.51 by ($0.04). Packaging Co. of America had a net margin of 9.46% and a return on equity of 19.10%. As a group, sell-side analysts anticipate that Packaging Co. of America will post 9.08 EPS for the current year.

Packaging Co. of America Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Friday, December 20th were issued a $1.25 dividend. The ex-dividend date was Friday, December 20th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.33%. Packaging Co. of America’s payout ratio is 58.28%.

Analyst Ratings Changes

Several equities analysts have recently commented on PKG shares. Truist Financial reaffirmed a “buy” rating and issued a $265.00 price target (down previously from $282.00) on shares of Packaging Co. of America in a research note on Thursday. Wells Fargo & Company decreased their price objective on shares of Packaging Co. of America from $253.00 to $236.00 and set an “overweight” rating for the company in a research report on Thursday. Citigroup increased their target price on Packaging Co. of America from $232.00 to $235.00 and gave the company a “neutral” rating in a report on Monday, January 6th. StockNews.com downgraded Packaging Co. of America from a “buy” rating to a “hold” rating in a report on Wednesday. Finally, Jefferies Financial Group upgraded Packaging Co. of America from a “hold” rating to a “buy” rating and increased their price objective for the company from $215.00 to $280.00 in a report on Wednesday, December 18th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $233.00.

Packaging Co. of America Profile

Packaging Corporation of America engages in the production of container products. It operates through the following segments: Packaging, Paper, and Corporate and Other. The Packaging segment offers a variety of corrugated packaging products, such as conventional shipping containers. The Paper segment manufactures and sells a range of papers, including communication-based papers, and pressure sensitive papers.