Packaging Co. of America (NYSE:PKG) Shares Sold by Allianz Asset Management GmbH

Allianz Asset Management GmbH cut its stake in shares of Packaging Co. of America (NYSE:PKG) by 4.8% in the fourth quarter, HoldingsChannel.com reports. The fund owned 290,800 shares of the industrial products company’s stock after selling 14,810 shares during the period. Allianz Asset Management GmbH’s holdings in Packaging Co. of America were worth $65,468,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Larson Financial Group LLC raised its position in Packaging Co. of America by 234.7% during the third quarter. Larson Financial Group LLC now owns 164 shares of the industrial products company’s stock worth $35,000 after acquiring an additional 115 shares during the period. Fortitude Family Office LLC raised its position in Packaging Co. of America by 150.8% during the fourth quarter. Fortitude Family Office LLC now owns 163 shares of the industrial products company’s stock worth $37,000 after acquiring an additional 98 shares during the period. Centricity Wealth Management LLC acquired a new position in Packaging Co. of America during the fourth quarter worth $44,000. Golden State Wealth Management LLC acquired a new position in Packaging Co. of America during the fourth quarter worth $48,000. Finally, Assetmark Inc. raised its position in Packaging Co. of America by 44.6% during the third quarter. Assetmark Inc. now owns 269 shares of the industrial products company’s stock worth $58,000 after acquiring an additional 83 shares during the period. 89.78% of the stock is currently owned by institutional investors and hedge funds.

Packaging Co. of America Trading Down 0.7 %

Shares of PKG opened at $208.19 on Friday. 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 has a 12-month low of $169.00 and a 12-month high of $250.82. The firm has a 50-day moving average price of $224.09 and a 200 day moving average price of $222.00. The firm has a market capitalization of $18.70 billion, a P/E ratio of 23.31, a P/E/G ratio of 2.41 and a beta of 0.77.

Packaging Co. of America (NYSE:PKG) last announced its quarterly earnings data on Tuesday, January 28th. The industrial products company reported $2.47 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.51 by ($0.04). Packaging Co. of America had a net margin of 9.60% and a return on equity of 19.67%. Sell-side analysts forecast that Packaging Co. of America will post 10.44 EPS for the current year.

Packaging Co. of America Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Friday, December 20th were issued a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.40%. The ex-dividend date was Friday, December 20th. Packaging Co. of America’s dividend payout ratio is currently 55.99%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on PKG shares. Wells Fargo & Company reduced their target price 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, January 30th. StockNews.com cut shares of Packaging Co. of America from a “buy” rating to a “hold” rating in a research report on Wednesday, January 29th. Citigroup increased their target price 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. Seaport Res Ptn upgraded shares of Packaging Co. of America from a “hold” rating to a “strong-buy” rating in a research report on Thursday, February 13th. Finally, Truist Financial reiterated a “buy” rating and issued a $265.00 target price (down from $282.00) on shares of Packaging Co. of America in a research report on Thursday, January 30th. Three research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $233.00.

Insider Activity at Packaging Co. of America

In other Packaging Co. of America news, SVP Joseph Vaughn sold 2,300 shares of the stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $244.89, for a total transaction of $563,247.00. Following the completion of the transaction, the senior vice president now owns 9,197 shares of the company’s stock, valued at $2,252,253.33. This trade represents a 20.01 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 1.60% of the stock is currently owned by insiders.

Packaging Co. of America Company 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.