AIA Group Ltd Has $1.66 Million Stake in Packaging Co. of America (NYSE:PKG)

AIA Group Ltd lifted its position in shares of Packaging Co. of America (NYSE:PKG) by 15.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,766 shares of the industrial products company’s stock after acquiring an additional 1,148 shares during the quarter. AIA Group Ltd’s holdings in Packaging Co. of America were worth $1,664,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of PKG. Norges Bank acquired a new stake in shares of Packaging Co. of America during the 4th quarter valued at $163,314,000. Balyasny Asset Management L.P. raised its position in Packaging Co. of America by 175.3% during the 4th quarter. Balyasny Asset Management L.P. now owns 438,285 shares of the industrial products company’s stock worth $71,401,000 after purchasing an additional 279,059 shares during the last quarter. Retirement Systems of Alabama raised its position in Packaging Co. of America by 1,133.4% during the 4th quarter. Retirement Systems of Alabama now owns 250,752 shares of the industrial products company’s stock worth $40,850,000 after purchasing an additional 230,422 shares during the last quarter. Goldman Sachs Group Inc. raised its position in Packaging Co. of America by 31.9% during the 4th quarter. Goldman Sachs Group Inc. now owns 783,619 shares of the industrial products company’s stock worth $127,659,000 after purchasing an additional 189,401 shares during the last quarter. Finally, Boston Partners raised its position in Packaging Co. of America by 20.1% during the 4th quarter. Boston Partners now owns 968,816 shares of the industrial products company’s stock worth $157,836,000 after purchasing an additional 162,420 shares during the last quarter. Institutional investors and hedge funds own 89.78% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on PKG. Bank of America raised their target price on Packaging Co. of America from $197.00 to $200.00 and gave the stock a “buy” rating in a research report on Monday, June 17th. Truist Financial raised their target price on Packaging Co. of America from $191.00 to $208.00 and gave the company a “buy” rating in a research note on Thursday, May 30th. BNP Paribas downgraded Packaging Co. of America from an “outperform” rating to a “neutral” rating and set a $182.00 target price for the company. in a research note on Friday, April 12th. Citigroup raised their target price on Packaging Co. of America from $181.00 to $187.00 and gave the company a “neutral” rating in a research note on Monday, July 8th. Finally, StockNews.com upgraded Packaging Co. of America from a “hold” rating to a “buy” rating in a research note on Tuesday, May 21st. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $185.17.

Insider Buying and Selling at Packaging Co. of America

In other Packaging Co. of America news, Director Karen E. Gowland bought 300 shares of the stock in a transaction on Wednesday, May 15th. The shares were acquired at an average price of $182.06 per share, with a total value of $54,618.00. Following the acquisition, the director now directly owns 916 shares of the company’s stock, valued at approximately $166,766.96. The transaction was disclosed in a document filed with the SEC, which is available through this link. Insiders own 1.60% of the company’s stock.

Packaging Co. of America Stock Performance

Shares of NYSE PKG traded up $2.67 during midday trading on Friday, reaching $185.44. The company’s stock had a trading volume of 470,302 shares, compared to its average volume of 512,940. Packaging Co. of America has a 12-month low of $132.70 and a 12-month high of $191.39. The firm has a 50 day moving average price of $182.20 and a 200-day moving average price of $177.42. The stock has a market capitalization of $16.65 billion, a P/E ratio of 23.18, a PEG ratio of 4.94 and a beta of 0.77. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.46 and a quick ratio of 1.74.

Packaging Co. of America (NYSE:PKG) last posted its quarterly earnings results 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. The company had revenue of $1.98 billion for the quarter, compared to analysts’ expectations of $1.91 billion. Packaging Co. of America had a net margin of 9.25% and a return on equity of 18.80%. Packaging Co. of America’s revenue was up .2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.20 EPS. As a group, equities analysts predict that Packaging Co. of America will post 8.33 earnings per share for the current year.

Packaging Co. of America Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 14th will be issued a dividend of $1.25 per share. The ex-dividend date is Friday, June 14th. This represents a $5.00 dividend on an annualized basis and a yield of 2.70%. Packaging Co. of America’s payout ratio is 62.50%.

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.