Simmons Bank Sells 181 Shares of Packaging Co. of America (NYSE:PKG)

Simmons Bank decreased its stake in Packaging Co. of America (NYSE:PKG) by 8.4% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,985 shares of the industrial products company’s stock after selling 181 shares during the period. Simmons Bank’s holdings in Packaging Co. of America were worth $362,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in the stock. Norges Bank purchased a new position in shares of Packaging Co. of America in the fourth quarter worth about $163,314,000. Boston Partners grew its stake in Packaging Co. of America by 49.3% during the first quarter. Boston Partners now owns 1,446,303 shares of the industrial products company’s stock valued at $274,421,000 after acquiring an additional 477,487 shares in the last quarter. Balyasny Asset Management L.P. grew its stake in Packaging Co. of America by 175.3% during the fourth quarter. Balyasny Asset Management L.P. now owns 438,285 shares of the industrial products company’s stock valued at $71,401,000 after acquiring an additional 279,059 shares in the last quarter. Retirement Systems of Alabama grew its stake in Packaging Co. of America by 1,133.4% during the fourth quarter. Retirement Systems of Alabama now owns 250,752 shares of the industrial products company’s stock valued at $40,850,000 after acquiring an additional 230,422 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its stake in Packaging Co. of America by 31.9% during the fourth quarter. Goldman Sachs Group Inc. now owns 783,619 shares of the industrial products company’s stock valued at $127,659,000 after acquiring an additional 189,401 shares in the last quarter. Institutional investors own 89.78% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Truist Financial boosted their price target on shares of Packaging Co. of America from $215.00 to $219.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. StockNews.com cut shares of Packaging Co. of America from a “buy” rating to a “hold” rating in a research note on Wednesday. Citigroup boosted their price target on shares of Packaging Co. of America from $181.00 to $187.00 and gave the stock a “neutral” rating in a research note on Monday, July 8th. Wells Fargo & Company boosted their price target on shares of Packaging Co. of America from $194.00 to $215.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. Finally, Bank of America boosted their price target on shares of Packaging Co. of America from $197.00 to $200.00 and gave the stock a “buy” rating in a research note 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. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $190.50.

Packaging Co. of America Trading Up 0.1 %

Shares of PKG traded up $0.17 during mid-day trading on Wednesday, reaching $205.08. The company’s stock had a trading volume of 396,695 shares, compared to its average volume of 616,246. The stock has a market cap of $18.42 billion, a PE ratio of 25.61, a P/E/G ratio of 5.08 and a beta of 0.77. The company has a current ratio of 2.43, a quick ratio of 1.71 and a debt-to-equity ratio of 0.60. Packaging Co. of America has a 52 week low of $143.82 and a 52 week high of $206.84. The company’s fifty day moving average price is $191.09 and its two-hundred day moving average price is $184.42.

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 for the quarter, topping analysts’ consensus estimates of $2.14 by $0.06. The firm had revenue of $2.08 billion during the quarter, compared to analyst estimates of $2.02 billion. Packaging Co. of America had a net margin of 9.06% and a return on equity of 18.21%. The business’s quarterly revenue was up 6.3% on a year-over-year basis. During the same period in the previous year, the business posted $2.31 EPS. On average, analysts predict that Packaging Co. of America will post 8.71 earnings per share for the current fiscal year.

Packaging Co. of America Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Tuesday, October 15th will be issued a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a yield of 2.44%. Packaging Co. of America’s dividend payout ratio is currently 62.50%.

Insider Activity at Packaging Co. of America

In other Packaging Co. of America news, SVP Donald R. Shirley sold 6,000 shares of the company’s stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $196.28, for a total value of $1,177,680.00. Following the completion of the transaction, the senior vice president now directly owns 20,772 shares in the company, valued at approximately $4,077,128.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Packaging Co. of America news, SVP Donald R. Shirley sold 6,000 shares of the company’s stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $196.28, for a total value of $1,177,680.00. Following the completion of the transaction, the senior vice president now directly owns 20,772 shares in the company, valued at approximately $4,077,128.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Charles J. Carter sold 5,389 shares of the company’s stock in a transaction on 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 disclosure for this sale can be found here. 1.60% of the stock is currently owned by company insiders.

About Packaging Co. of America

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.