Maj Invest Holding A S Has $157.20 Million Stock Holdings in Packaging Co. of America (NYSE:PKG)

Maj Invest Holding A S lowered its holdings in shares of Packaging Co. of America (NYSE:PKG) by 30.9% in the 3rd quarter, HoldingsChannel reports. The firm owned 729,817 shares of the industrial products company’s stock after selling 326,476 shares during the period. Packaging Co. of America makes up approximately 4.2% of Maj Invest Holding A S’s holdings, making the stock its 16th largest holding. Maj Invest Holding A S’s holdings in Packaging Co. of America were worth $157,202,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Coldstream Capital Management Inc. grew its position in shares of Packaging Co. of America by 1.4% during the 2nd quarter. Coldstream Capital Management Inc. now owns 3,859 shares of the industrial products company’s stock worth $704,000 after buying an additional 54 shares during the period. Daiwa Securities Group Inc. boosted its stake in Packaging Co. of America by 0.6% during the second quarter. Daiwa Securities Group Inc. now owns 9,713 shares of the industrial products company’s stock worth $1,773,000 after acquiring an additional 56 shares in the last quarter. Moors & Cabot Inc. increased its stake in Packaging Co. of America by 2.1% in the second quarter. Moors & Cabot Inc. now owns 2,689 shares of the industrial products company’s stock valued at $491,000 after purchasing an additional 56 shares in the last quarter. Evergreen Capital Management LLC raised its holdings in shares of Packaging Co. of America by 2.4% during the second quarter. Evergreen Capital Management LLC now owns 2,461 shares of the industrial products company’s stock valued at $452,000 after purchasing an additional 57 shares during the period. Finally, Tokio Marine Asset Management Co. Ltd. boosted its position in shares of Packaging Co. of America by 2.8% during the 1st quarter. Tokio Marine Asset Management Co. Ltd. now owns 2,160 shares of the industrial products company’s stock worth $410,000 after purchasing an additional 59 shares in the last quarter. 89.78% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Packaging Co. of America

In other news, EVP Charles J. Carter sold 5,389 shares of the firm’s stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $196.28, for a total transaction of $1,057,752.92. Following the completion of the sale, the executive vice president now owns 25,539 shares in the company, valued at $5,012,794.92. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Packaging Co. of America news, SVP Donald R. Shirley sold 6,000 shares of the stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $196.28, for a total transaction of $1,177,680.00. Following the completion of the transaction, the senior vice president now owns 20,772 shares in the company, valued at $4,077,128.16. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Charles J. Carter sold 5,389 shares of Packaging Co. of America stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $196.28, for a total transaction of $1,057,752.92. Following the completion of the transaction, the executive vice president now owns 25,539 shares of the company’s stock, valued at $5,012,794.92. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.60% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently weighed in on PKG. Wells Fargo & Company upped their price target on Packaging Co. of America from $215.00 to $235.00 and gave the stock an “overweight” rating in a research note on Monday, October 7th. StockNews.com cut Packaging Co. of America from a “buy” rating to a “hold” rating in a report on Saturday, September 28th. Citigroup boosted their price target 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. Truist Financial upped their price objective on shares of Packaging Co. of America from $215.00 to $219.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. Finally, Bank of America lifted their price objective on shares of Packaging Co. of America from $197.00 to $200.00 and gave the company a “buy” rating in a report on Monday, June 17th. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, Packaging Co. of America currently has a consensus rating of “Hold” and an average price target of $199.50.

Packaging Co. of America Price Performance

Shares of NYSE PKG opened at $217.95 on Friday. The company has a market capitalization of $19.57 billion, a PE ratio of 27.35, a PEG ratio of 4.25 and a beta of 0.77. The company has a quick ratio of 1.71, a current ratio of 2.43 and a debt-to-equity ratio of 0.60. The stock’s 50 day moving average price is $206.56 and its 200-day moving average price is $191.85. Packaging Co. of America has a twelve month low of $143.82 and a twelve month high of $218.67.

Packaging Co. of America (NYSE:PKG) last announced its quarterly earnings data on Tuesday, July 23rd. The industrial products company reported $2.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.14 by $0.06. Packaging Co. of America had a return on equity of 18.21% and a net margin of 9.06%. The firm had revenue of $2.08 billion during the quarter, compared to the consensus estimate of $2.02 billion. During the same quarter in the prior year, the company earned $2.31 EPS. The business’s revenue for the quarter was up 6.3% on a year-over-year basis. On average, equities analysts anticipate that Packaging Co. of America will post 8.73 EPS for the current year.

Packaging Co. of America Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Tuesday, October 15th were given a $1.25 dividend. This represents a $5.00 annualized dividend and a yield of 2.29%. The ex-dividend date was Monday, September 16th. Packaging Co. of America’s dividend payout ratio is 62.74%.

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.