DT Investment Partners LLC Reduces Position in Packaging Co. of America (NYSE:PKG)

DT Investment Partners LLC trimmed its holdings in shares of Packaging Co. of America (NYSE:PKG) by 6.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 7,517 shares of the industrial products company’s stock after selling 484 shares during the quarter. DT Investment Partners LLC’s holdings in Packaging Co. of America were worth $1,271,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of PKG. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in shares of Packaging Co. of America by 6.6% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 12,710 shares of the industrial products company’s stock worth $1,984,000 after acquiring an additional 787 shares during the last quarter. Raymond James Trust N.A. increased its position in shares of Packaging Co. of America by 120.3% during the first quarter. Raymond James Trust N.A. now owns 3,792 shares of the industrial products company’s stock worth $592,000 after acquiring an additional 2,071 shares during the last quarter. Cibc World Market Inc. purchased a new stake in shares of Packaging Co. of America during the first quarter worth about $693,000. Sei Investments Co. increased its position in shares of Packaging Co. of America by 3.0% during the first quarter. Sei Investments Co. now owns 162,403 shares of the industrial products company’s stock worth $25,356,000 after acquiring an additional 4,701 shares during the last quarter. Finally, Canada Pension Plan Investment Board increased its position in shares of Packaging Co. of America by 58.6% during the first quarter. Canada Pension Plan Investment Board now owns 24,748 shares of the industrial products company’s stock worth $3,863,000 after acquiring an additional 9,145 shares during the last quarter. 89.78% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

PKG has been the subject of several research analyst reports. Citigroup boosted their price objective on Packaging Co. of America from $172.00 to $183.00 and gave the company a “neutral” rating in a report on Thursday, April 4th. BNP Paribas lowered Packaging Co. of America from an “outperform” rating to a “neutral” rating and set a $182.00 price objective for the company. in a report on Friday, April 12th. StockNews.com lowered Packaging Co. of America from a “buy” rating to a “hold” rating in a report on Friday. Bank of America raised Packaging Co. of America from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $172.00 to $202.00 in a report on Monday, March 4th. Finally, Truist Financial boosted their price objective on Packaging Co. of America from $170.00 to $187.00 and gave the company a “buy” rating in a report on Thursday, January 4th. Six equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $171.29.

Insider Transactions at Packaging Co. of America

In other news, CFO Robert P. Mundy sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $182.51, for a total transaction of $1,825,100.00. Following the completion of the transaction, the chief financial officer now directly owns 46,454 shares in the company, valued at $8,478,319.54. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Packaging Co. of America news, CFO Robert P. Mundy sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $182.51, for a total value of $1,825,100.00. Following the completion of the sale, the chief financial officer now directly owns 46,454 shares in the company, valued at $8,478,319.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Thomas A. Hassfurther sold 13,850 shares of the company’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $181.06, for a total value of $2,507,681.00. Following the completion of the sale, the vice president now owns 187,647 shares of the company’s stock, valued at $33,975,365.82. The disclosure for this sale can be found here. Over the last three months, insiders sold 38,041 shares of company stock worth $6,799,177. Company insiders own 1.60% of the company’s stock.

Packaging Co. of America Stock Performance

Shares of NYSE:PKG traded up $1.64 during trading on Friday, hitting $179.89. 2,529,184 shares of the company traded hands, compared to its average volume of 479,500. The company has a quick ratio of 1.77, a current ratio of 2.57 and a debt-to-equity ratio of 0.62. The business’s fifty day moving average is $181.22 and its 200-day moving average is $167.48. The stock has a market capitalization of $16.15 billion, a price-to-earnings ratio of 21.21, a PEG ratio of 4.29 and a beta of 0.78. Packaging Co. of America has a one year low of $122.20 and a one year high of $191.27.

Packaging Co. of America (NYSE:PKG) last issued its quarterly earnings data on Thursday, January 25th. The industrial products company reported $2.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.83 by $0.30. The business had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $1.90 billion. Packaging Co. of America had a return on equity of 20.25% and a net margin of 9.81%. The business’s revenue was down 2.0% on a year-over-year basis. During the same period in the previous year, the firm posted $2.35 earnings per share. As a group, equities analysts predict that Packaging Co. of America will post 8.31 earnings per share for the current fiscal year.

Packaging Co. of America Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Friday, March 15th were given a dividend of $1.25 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $5.00 annualized dividend and a dividend yield of 2.78%. Packaging Co. of America’s dividend payout ratio is presently 58.96%.

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.