Packaging Co. of America (NYSE:PKG) Shares Sold by Burney Co.

Burney Co. cut its stake in Packaging Co. of America (NYSE:PKG) by 88.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,409 shares of the industrial products company’s stock after selling 17,705 shares during the period. Burney Co.’s holdings in Packaging Co. of America were worth $457,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the business. FIL Ltd grew its stake in shares of Packaging Co. of America by 2.6% in the fourth quarter. FIL Ltd now owns 2,210,000 shares of the industrial products company’s stock worth $360,031,000 after purchasing an additional 55,000 shares in the last quarter. Northern Trust Corp boosted its stake in Packaging Co. of America by 2.4% during the fourth quarter. Northern Trust Corp now owns 1,182,797 shares of the industrial products company’s stock valued at $192,689,000 after buying an additional 27,974 shares in the last quarter. Norges Bank bought a new position in Packaging Co. of America during the fourth quarter valued at about $163,314,000. Boston Partners boosted its stake in Packaging Co. of America by 20.1% during the fourth quarter. Boston Partners now owns 968,816 shares of the industrial products company’s stock valued at $157,836,000 after buying an additional 162,420 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in Packaging Co. of America by 0.7% during the first quarter. Bank of New York Mellon Corp now owns 874,497 shares of the industrial products company’s stock valued at $165,962,000 after buying an additional 5,842 shares in the last quarter. Institutional investors own 89.78% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on PKG. Wells Fargo & Company raised their target price on Packaging Co. of America from $194.00 to $215.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. BNP Paribas cut 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. StockNews.com raised Packaging Co. of America from a “hold” rating to a “buy” rating in a research note on Wednesday, July 24th. 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, Bank of America increased their price target on Packaging Co. of America from $197.00 to $200.00 and gave the company a “buy” rating in a research report on Monday, June 17th. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $190.50.

Insider Buying and Selling

In related news, SVP Donald R. Shirley sold 6,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 25th. The stock was 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 approximately $4,077,128.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Packaging Co. of America news, Director Karen E. Gowland acquired 300 shares of the business’s stock in a transaction on Wednesday, May 15th. The stock was purchased at an average price of $182.06 per share, for a total transaction of $54,618.00. Following the transaction, the director now owns 916 shares in the company, valued at approximately $166,766.96. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Donald R. Shirley sold 6,000 shares of the business’s stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $196.28, for a total value of $1,177,680.00. Following the sale, the senior vice president now owns 20,772 shares of the company’s stock, valued at approximately $4,077,128.16. The disclosure for this sale can be found here. 1.60% of the stock is owned by corporate insiders.

Packaging Co. of America Stock Down 0.7 %

Packaging Co. of America stock traded down $1.31 during mid-day trading on Friday, hitting $196.69. The company’s stock had a trading volume of 509,410 shares, compared to its average volume of 595,144. The firm’s 50 day moving average is $186.26 and its 200 day moving average is $180.44. The company has a market cap of $17.66 billion, a PE ratio of 24.59, a price-to-earnings-growth ratio of 5.18 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 has a 52-week low of $143.82 and a 52-week high of $201.99.

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, topping the consensus estimate of $2.14 by $0.06. The firm had revenue of $2.08 billion during the quarter, compared to the consensus estimate of $2.02 billion. Packaging Co. of America had a return on equity of 18.39% and a net margin of 9.06%. The business’s revenue for the quarter was up 6.3% on a year-over-year basis. During the same period in the prior year, the business earned $2.31 EPS. On average, analysts anticipate that Packaging Co. of America will post 8.62 earnings per share for the current year.

Packaging Co. of America Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Friday, June 14th were given a dividend of $1.25 per share. The ex-dividend date of this dividend was Friday, June 14th. This represents a $5.00 annualized dividend and a dividend yield of 2.54%. Packaging Co. of America’s dividend payout ratio (DPR) is presently 62.50%.

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.