Dai ichi Life Insurance Company Ltd Sells 5,500 Shares of Packaging Co. of America (NYSE:PKG)

Dai ichi Life Insurance Company Ltd decreased its stake in shares of Packaging Co. of America (NYSE:PKG) by 15.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 29,693 shares of the industrial products company’s stock after selling 5,500 shares during the period. Dai ichi Life Insurance Company Ltd’s holdings in Packaging Co. of America were worth $6,396,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Summit Financial Strategies Inc. lifted its position 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 valued at $42,809,000 after acquiring an additional 12,129 shares during the period. DekaBank Deutsche Girozentrale lifted its position in Packaging Co. of America by 6.8% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 224,273 shares of the industrial products company’s stock valued at $41,839,000 after acquiring an additional 14,277 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its position in Packaging Co. of America by 227.5% during the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 32,243 shares of the industrial products company’s stock valued at $6,945,000 after acquiring an additional 22,397 shares during the period. M&G Plc purchased a new position in Packaging Co. of America during the 2nd quarter valued at about $840,000. Finally, Wealth Enhancement Advisory Services LLC lifted its position in Packaging Co. of America by 22.7% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 33,401 shares of the industrial products company’s stock valued at $6,098,000 after acquiring an additional 6,184 shares during the period. 89.78% of the stock is owned by hedge funds and other institutional investors.

Packaging Co. of America Stock Up 0.3 %

Shares of Packaging Co. of America stock opened at $248.11 on Wednesday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.98 and a current ratio of 2.95. The stock has a market capitalization of $22.28 billion, a PE ratio of 28.92, a price-to-earnings-growth ratio of 3.47 and a beta of 0.76. Packaging Co. of America has a 52-week low of $153.58 and a 52-week high of $250.82. The company has a 50-day simple moving average of $225.48 and a two-hundred day simple moving average of $203.08.

Packaging Co. of America (NYSE:PKG) last released its quarterly earnings data on Tuesday, October 22nd. The industrial products company reported $2.65 earnings per share for the quarter, beating the consensus estimate of $2.50 by $0.15. Packaging Co. of America had a net margin of 9.46% and a return on equity of 19.10%. The firm had revenue of $2.18 billion during the quarter, compared to analysts’ expectations of $2.09 billion. During the same period in the previous year, the company earned $2.05 earnings per share. The firm’s quarterly revenue was up 14.9% on a year-over-year basis. On average, analysts anticipate that Packaging Co. of America will post 9.07 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on PKG. Truist Financial reissued a “buy” rating and set a $252.00 price target (up from $242.00) on shares of Packaging Co. of America in a research report on Thursday, October 24th. Citigroup lifted their target price on shares of Packaging Co. of America from $199.00 to $221.00 and gave the stock a “neutral” rating in a report on Wednesday, October 2nd. StockNews.com cut shares of Packaging Co. of America from a “buy” rating to a “hold” rating in a report on Wednesday, November 20th. Finally, Wells Fargo & Company lifted their target price on shares of Packaging Co. of America from $235.00 to $253.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Packaging Co. of America presently has a consensus rating of “Hold” and an average target price of $221.60.

Insider Activity

In other news, Director Paul T. Stecko sold 10,500 shares of Packaging Co. of America stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $244.91, for a total transaction of $2,571,555.00. Following the transaction, the director now owns 8,881 shares in the company, valued at $2,175,045.71. This trade represents a 54.18 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Donald R. Shirley sold 8,000 shares of the company’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $240.20, for a total value of $1,921,600.00. Following the completion of the sale, the senior vice president now owns 15,725 shares of the company’s stock, valued at $3,777,145. This trade represents a 33.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 31,000 shares of company stock valued at $7,500,905 over the last three months. Insiders own 1.70% of the company’s stock.

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.