Packaging Co. of America (NYSE:PKG) Stock Holdings Decreased by Krane Funds Advisors LLC

Krane Funds Advisors LLC decreased its stake in shares of Packaging Co. of America (NYSE:PKG) by 34.0% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 1,604 shares of the industrial products company’s stock after selling 828 shares during the quarter. Krane Funds Advisors LLC’s holdings in Packaging Co. of America were worth $346,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of PKG. Allspring Global Investments Holdings LLC boosted its position in Packaging Co. of America by 23.8% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 80,906 shares of the industrial products company’s stock valued at $17,427,000 after purchasing an additional 15,536 shares during the period. New Century Financial Group LLC acquired a new position in shares of Packaging Co. of America during the third quarter worth approximately $236,000. Blue Trust Inc. grew its holdings in Packaging Co. of America by 45.5% in the 3rd quarter. Blue Trust Inc. now owns 4,298 shares of the industrial products company’s stock worth $926,000 after buying an additional 1,344 shares in the last quarter. Net Worth Advisory Group acquired a new stake in Packaging Co. of America in the 3rd quarter valued at approximately $403,000. Finally, Aaron Wealth Advisors LLC acquired a new stake in Packaging Co. of America in the 3rd quarter valued at approximately $205,000. 89.78% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other 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 value of $1,177,680.00. Following the completion of the sale, the senior vice president now owns 20,772 shares in the company, valued at $4,077,128.16. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, EVP Charles J. Carter sold 5,389 shares of the company’s stock in a transaction dated 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 owns 25,539 shares in the company, valued at $5,012,794.92. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Donald R. Shirley sold 6,000 shares of the firm’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 transaction of $1,177,680.00. Following the sale, the senior vice president now owns 20,772 shares of the company’s stock, valued at approximately $4,077,128.16. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.60% of the company’s stock.

Packaging Co. of America Trading Down 1.2 %

Shares of NYSE PKG opened at $216.54 on Tuesday. The business has a fifty day simple moving average of $209.17 and a 200-day simple moving average of $193.03. The company has a market cap of $19.44 billion, a price-to-earnings ratio of 27.39, a P/E/G ratio of 4.32 and a beta of 0.77. Packaging Co. of America has a 12 month low of $143.82 and a 12 month high of $222.98. The company has a quick ratio of 1.71, a current ratio of 2.43 and a debt-to-equity ratio of 0.60.

Packaging Co. of America (NYSE:PKG) last announced its earnings results on Tuesday, July 23rd. The industrial products company reported $2.20 EPS for the quarter, topping the consensus estimate of $2.14 by $0.06. Packaging Co. of America had a net margin of 9.06% and a return on equity of 18.21%. The company had revenue of $2.08 billion during the quarter, compared to analysts’ expectations of $2.02 billion. During the same period last year, the company posted $2.31 earnings per share. The business’s revenue for the quarter was up 6.3% on a year-over-year basis. Sell-side analysts predict that Packaging Co. of America will post 8.73 EPS for the current year.

Packaging Co. of America Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Tuesday, October 15th were paid a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a yield of 2.31%. The ex-dividend date was Monday, September 16th. Packaging Co. of America’s dividend payout ratio is 62.50%.

Analysts Set New Price Targets

PKG has been the subject of a number of analyst reports. StockNews.com cut Packaging Co. of America from a “buy” rating to a “hold” rating in a research note on Saturday, September 28th. Wells Fargo & Company raised their target price on shares of Packaging Co. of America from $215.00 to $235.00 and gave the company an “overweight” rating in a research note on Monday, October 7th. Truist Financial upped their price target on shares of Packaging Co. of America from $219.00 to $242.00 and gave the stock a “buy” rating in a research note on Tuesday, October 15th. Finally, Citigroup raised their price objective on shares of Packaging Co. of America from $199.00 to $221.00 and gave the company a “neutral” rating in a research note on Wednesday, October 2nd. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, Packaging Co. of America currently has a consensus rating of “Hold” and a consensus target price of $216.00.

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.