Packaging Co. of America (NYSE:PKG) Shares Sold by Swiss National Bank

Swiss National Bank reduced its stake in shares of Packaging Co. of America (NYSE:PKG) by 2.8% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 281,100 shares of the industrial products company’s stock after selling 8,200 shares during the period. Swiss National Bank owned approximately 0.31% of Packaging Co. of America worth $45,794,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Annis Gardner Whiting Capital Advisors LLC acquired a new position in Packaging Co. of America during the third quarter worth about $25,000. Anchor Investment Management LLC purchased a new position in Packaging Co. of America in the 4th quarter valued at approximately $37,000. Fortis Group Advisors LLC acquired a new position in Packaging Co. of America during the third quarter worth $46,000. BKM Wealth Management LLC purchased a new stake in Packaging Co. of America during the fourth quarter worth $49,000. Finally, Desjardins Global Asset Management Inc. increased its position in shares of Packaging Co. of America by 485.7% in the fourth quarter. Desjardins Global Asset Management Inc. now owns 328 shares of the industrial products company’s stock valued at $53,000 after buying an additional 272 shares in the last quarter. 89.78% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Packaging Co. of America

In related news, VP Thomas A. Hassfurther sold 14,191 shares of the stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $173.80, for a total value of $2,466,395.80. Following the completion of the sale, the vice president now directly owns 183,930 shares in the company, valued at approximately $31,967,034. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, VP Thomas A. Hassfurther sold 14,191 shares of Packaging Co. of America stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $173.80, for a total transaction of $2,466,395.80. Following the sale, the vice president now owns 183,930 shares in the company, valued at $31,967,034. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Robert P. Mundy sold 10,000 shares of the firm’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $182.51, for a total transaction of $1,825,100.00. Following the sale, the chief financial officer now directly owns 46,454 shares of the company’s stock, valued at $8,478,319.54. The disclosure for this sale can be found here. Insiders sold 38,041 shares of company stock valued at $6,799,177 over the last 90 days. Corporate insiders own 1.70% of the company’s stock.

Packaging Co. of America Price Performance

Packaging Co. of America stock opened at $176.15 on Tuesday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.77 and a current ratio of 2.57. The company has a market cap of $15.81 billion, a price-to-earnings ratio of 22.02, a PEG ratio of 4.29 and a beta of 0.80. Packaging Co. of America has a 1 year low of $122.20 and a 1 year high of $191.27. The firm has a 50 day moving average price of $182.32 and a 200 day moving average price of $169.40.

Packaging Co. of America (NYSE:PKG) last released its quarterly earnings data on Tuesday, April 23rd. The industrial products company reported $1.72 EPS for the quarter, topping analysts’ consensus estimates of $1.63 by $0.09. Packaging Co. of America had a return on equity of 18.94% and a net margin of 9.25%. The business had revenue of $1.98 billion during the quarter, compared to the consensus estimate of $1.91 billion. During the same period in the prior year, the firm posted $2.20 EPS. The business’s revenue for the quarter was up .2% on a year-over-year basis. Sell-side analysts predict that Packaging Co. of America will post 8.21 earnings per share for the current year.

Packaging Co. of America Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Friday, March 15th were given a dividend of $1.25 per share. The ex-dividend date was Thursday, March 14th. This represents a $5.00 dividend on an annualized basis and a yield of 2.84%. Packaging Co. of America’s dividend payout ratio (DPR) is 62.50%.

Analysts Set New Price Targets

Several equities analysts have weighed in on PKG shares. Seaport Res Ptn downgraded shares of Packaging Co. of America from a “buy” rating to a “neutral” rating in a report on Monday, January 29th. Wells Fargo & Company upgraded Packaging Co. of America from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $187.00 to $191.00 in a report on Wednesday, April 24th. Bank of America upgraded Packaging Co. of America from a “neutral” rating to a “buy” rating and upped their price objective for the company from $172.00 to $202.00 in a research report on Monday, March 4th. StockNews.com lowered shares of Packaging Co. of America from a “buy” rating to a “hold” rating in a report on Friday, April 19th. Finally, Citigroup lowered their price target on shares of Packaging Co. of America from $183.00 to $181.00 and set a “neutral” rating for the company in a report on Thursday, April 25th. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $173.57.

Packaging Co. of America Company 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.