Mn Services Vermogensbeheer B.V. Sells 700 Shares of Packaging Co. of America (NYSE:PKG)

Mn Services Vermogensbeheer B.V. reduced its stake in Packaging Co. of America (NYSE:PKG) by 2.0% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 34,500 shares of the industrial products company’s stock after selling 700 shares during the quarter. Mn Services Vermogensbeheer B.V.’s holdings in Packaging Co. of America were worth $7,431,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in PKG. CANADA LIFE ASSURANCE Co lifted its position in shares of Packaging Co. of America by 4.6% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 70,689 shares of the industrial products company’s stock worth $13,419,000 after purchasing an additional 3,078 shares during the period. Mitsubishi UFJ Trust & Banking Corp boosted its position in Packaging Co. of America by 30.4% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 90,686 shares of the industrial products company’s stock valued at $17,168,000 after acquiring an additional 21,143 shares during the last quarter. Summit Financial Strategies Inc. grew its holdings in Packaging Co. of America by 5.5% during the 2nd quarter. Summit Financial Strategies Inc. now owns 234,495 shares of the industrial products company’s stock worth $42,809,000 after acquiring an additional 12,129 shares during the period. DekaBank Deutsche Girozentrale raised its position in shares of Packaging Co. of America by 6.8% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 224,273 shares of the industrial products company’s stock worth $41,839,000 after acquiring an additional 14,277 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System lifted its stake in shares of Packaging Co. of America by 10.7% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 108,959 shares of the industrial products company’s stock valued at $20,678,000 after purchasing an additional 10,516 shares during the period. 89.78% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Wells Fargo & Company raised their target price on Packaging Co. of America from $235.00 to $253.00 and gave the stock an “overweight” rating in a research note on Thursday, October 24th. Citigroup raised their price objective on shares of Packaging Co. of America from $199.00 to $221.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 2nd. Truist Financial reiterated a “buy” rating and set a $252.00 target price (up previously from $242.00) on shares of Packaging Co. of America in a research report on Thursday, October 24th. Finally, StockNews.com downgraded Packaging Co. of America from a “buy” rating to a “hold” rating in a research note on Friday, November 1st. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, Packaging Co. of America has a consensus rating of “Hold” and an average price target of $221.60.

Packaging Co. of America Price Performance

NYSE:PKG opened at $232.65 on Wednesday. The stock has a fifty day moving average of $215.37 and a 200 day moving average of $196.27. The firm has a market capitalization of $20.89 billion, a price-to-earnings ratio of 27.12, a P/E/G ratio of 3.25 and a beta of 0.76. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.71 and a current ratio of 2.43. Packaging Co. of America has a 52-week low of $148.50 and a 52-week high of $232.98.

Packaging Co. of America (NYSE:PKG) last announced its quarterly earnings data on Tuesday, October 22nd. The industrial products company reported $2.65 earnings per share for the quarter, topping analysts’ consensus estimates of $2.50 by $0.15. Packaging Co. of America had a net margin of 9.46% and a return on equity of 19.35%. The firm had revenue of $2.18 billion during the quarter, compared to analyst estimates of $2.09 billion. During the same period in the previous year, the business posted $2.05 EPS. The business’s quarterly revenue was up 14.9% on a year-over-year basis. On average, research analysts expect that Packaging Co. of America will post 9 EPS for the current fiscal year.

Packaging Co. of America Announces Dividend

The business also recently declared 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 2.15%. The ex-dividend date of this dividend was Monday, September 16th. Packaging Co. of America’s payout ratio is currently 58.28%.

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.