Packaging Co. of America (NYSE:PKG) Shares Sold by OLD National Bancorp IN

OLD National Bancorp IN lessened its holdings in Packaging Co. of America (NYSE:PKG) by 5.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 17,146 shares of the industrial products company’s stock after selling 1,019 shares during the period. OLD National Bancorp IN’s holdings in Packaging Co. of America were worth $3,395,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also modified their holdings of the business. Sigma Planning Corp increased its stake in Packaging Co. of America by 2.3% during the fourth quarter. Sigma Planning Corp now owns 2,568 shares of the industrial products company’s stock worth $578,000 after purchasing an additional 58 shares during the period. EverSource Wealth Advisors LLC boosted its holdings in Packaging Co. of America by 1.8% in the fourth quarter. EverSource Wealth Advisors LLC now owns 3,637 shares of the industrial products company’s stock valued at $819,000 after purchasing an additional 66 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. boosted its holdings in Packaging Co. of America by 1.9% in the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 3,771 shares of the industrial products company’s stock valued at $849,000 after purchasing an additional 70 shares in the last quarter. Colonial Trust Co SC boosted its holdings in Packaging Co. of America by 3.9% in the fourth quarter. Colonial Trust Co SC now owns 2,071 shares of the industrial products company’s stock valued at $466,000 after purchasing an additional 78 shares in the last quarter. Finally, Nissay Asset Management Corp Japan ADV boosted its holdings in Packaging Co. of America by 0.7% in the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 10,857 shares of the industrial products company’s stock valued at $2,466,000 after purchasing an additional 80 shares in the last quarter. Institutional investors and hedge funds own 89.78% of the company’s stock.

Packaging Co. of America Stock Performance

NYSE:PKG opened at $196.47 on Monday. Packaging Co. of America has a 1-year low of $172.72 and a 1-year high of $250.82. The stock has a market cap of $17.68 billion, a P/E ratio of 22.00, a PEG ratio of 2.41 and a beta of 0.84. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.95 and a quick ratio of 1.98. The firm has a 50-day moving average of $188.27 and a two-hundred day moving average of $209.52.

Packaging Co. of America (NYSE:PKG) last issued its quarterly earnings results on Tuesday, April 22nd. The industrial products company reported $2.31 earnings per share for the quarter, beating analysts’ consensus estimates of $2.21 by $0.10. Packaging Co. of America had a return on equity of 19.67% and a net margin of 9.60%. The business had revenue of $2.14 billion during the quarter, compared to the consensus estimate of $2.12 billion. On average, research analysts expect that Packaging Co. of America will post 10.44 earnings per share for the current fiscal year.

Packaging Co. of America Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Friday, June 13th will be given a dividend of $1.25 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $5.00 dividend on an annualized basis and a yield of 2.54%. Packaging Co. of America’s dividend payout ratio (DPR) is presently 52.30%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. UBS Group initiated coverage on Packaging Co. of America in a report on Wednesday, June 4th. They set a “neutral” rating and a $200.00 price target for the company. Truist Financial dropped their price target on Packaging Co. of America from $265.00 to $238.00 and set a “buy” rating for the company in a research report on Tuesday, April 22nd. Wall Street Zen cut Packaging Co. of America from a “buy” rating to a “hold” rating in a research report on Sunday, April 6th. Wells Fargo & Company reiterated an “equal weight” rating and set a $180.00 price objective (down previously from $205.00) on shares of Packaging Co. of America in a research report on Friday, May 9th. Finally, Seaport Res Ptn raised Packaging Co. of America from a “hold” rating to a “strong-buy” rating in a research note on Thursday, February 13th. Four investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Packaging Co. of America has an average rating of “Moderate Buy” and a consensus price target of $222.17.

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.