Sumitomo Mitsui DS Asset Management Company Ltd Has $2.38 Million Stock Holdings in Packaging Co. of America (NYSE:PKG)

Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in shares of Packaging Co. of America (NYSE:PKG) by 19.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 10,551 shares of the industrial products company’s stock after purchasing an additional 1,699 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Packaging Co. of America were worth $2,375,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. Stifel Financial Corp grew its position in shares of Packaging Co. of America by 1,462.2% during the 3rd quarter. Stifel Financial Corp now owns 573,073 shares of the industrial products company’s stock worth $123,440,000 after buying an additional 536,389 shares during the period. International Assets Investment Management LLC grew its holdings in Packaging Co. of America by 41,151.7% in the third quarter. International Assets Investment Management LLC now owns 155,519 shares of the industrial products company’s stock worth $33,499,000 after purchasing an additional 155,142 shares during the period. Two Sigma Advisers LP grew its holdings in Packaging Co. of America by 218.1% in the third quarter. Two Sigma Advisers LP now owns 207,700 shares of the industrial products company’s stock worth $44,739,000 after purchasing an additional 142,400 shares during the period. Mizuho Securities USA LLC increased its stake in Packaging Co. of America by 1,800.2% in the third quarter. Mizuho Securities USA LLC now owns 130,583 shares of the industrial products company’s stock valued at $28,128,000 after purchasing an additional 123,711 shares in the last quarter. Finally, State Street Corp raised its holdings in shares of Packaging Co. of America by 3.2% during the third quarter. State Street Corp now owns 3,948,546 shares of the industrial products company’s stock valued at $855,212,000 after purchasing an additional 123,050 shares during the period. 89.78% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Packaging Co. of America news, SVP Joseph Vaughn sold 2,300 shares of the company’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $244.89, for a total value of $563,247.00. Following the completion of the transaction, the senior vice president now owns 9,197 shares in the company, valued at $2,252,253.33. This represents a 20.01 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Paul T. Stecko sold 10,500 shares of Packaging Co. of America stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $244.91, for a total value of $2,571,555.00. Following the sale, the director now owns 8,881 shares in the company, valued at $2,175,045.71. The trade was a 54.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.60% of the company’s stock.

Packaging Co. of America Trading Down 0.4 %

Shares of Packaging Co. of America stock opened at $209.37 on Tuesday. The company has a market capitalization of $18.80 billion, a P/E ratio of 23.45, a price-to-earnings-growth ratio of 2.40 and a beta of 0.77. The stock has a fifty day simple moving average of $229.62 and a 200 day simple moving average of $221.35. Packaging Co. of America has a 12-month low of $163.68 and a 12-month high of $250.82. The company has a current ratio of 2.95, a quick ratio of 1.98 and a debt-to-equity ratio of 0.58.

Packaging Co. of America (NYSE:PKG) last posted its earnings results on Tuesday, January 28th. The industrial products company reported $2.47 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.51 by ($0.04). Packaging Co. of America had a return on equity of 19.67% and a net margin of 9.60%. On average, sell-side analysts anticipate that Packaging Co. of America will post 10.6 earnings per share for the current fiscal year.

Packaging Co. of America Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Friday, December 20th were paid a $1.25 dividend. The ex-dividend date was Friday, December 20th. This represents a $5.00 annualized dividend and a yield of 2.39%. Packaging Co. of America’s dividend payout ratio (DPR) is 55.99%.

Analyst Ratings Changes

Several brokerages have recently commented on PKG. Truist Financial restated a “buy” rating and issued a $265.00 target price (down from $282.00) on shares of Packaging Co. of America in a research note on Thursday, January 30th. StockNews.com downgraded Packaging Co. of America from a “buy” rating to a “hold” rating in a report on Wednesday, January 29th. Wells Fargo & Company cut their target price on Packaging Co. of America from $253.00 to $236.00 and set an “overweight” rating on the stock in a report on Thursday, January 30th. Citigroup lifted their price target on shares of Packaging Co. of America from $232.00 to $235.00 and gave the company a “neutral” rating in a research report on Monday, January 6th. Finally, Jefferies Financial Group upgraded shares of Packaging Co. of America from a “hold” rating to a “buy” rating and upped their price objective for the stock from $215.00 to $280.00 in a report on Wednesday, December 18th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, Packaging Co. of America 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.