Livforsakringsbolaget Skandia Omsesidigt Lowers Stock Holdings in Packaging Co. of America (NYSE:PKG)

Livforsakringsbolaget Skandia Omsesidigt lowered its stake in Packaging Co. of America (NYSE:PKG) by 7.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,212 shares of the industrial products company’s stock after selling 100 shares during the period. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Packaging Co. of America were worth $274,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Larson Financial Group LLC increased its stake in Packaging Co. of America by 234.7% in the 3rd quarter. Larson Financial Group LLC now owns 164 shares of the industrial products company’s stock valued at $35,000 after buying an additional 115 shares during the period. Fortitude Family Office LLC boosted its holdings in shares of Packaging Co. of America by 150.8% in the fourth quarter. Fortitude Family Office LLC now owns 163 shares of the industrial products company’s stock valued at $37,000 after acquiring an additional 98 shares in the last quarter. Assetmark Inc. increased its stake in shares of Packaging Co. of America by 44.6% during the third quarter. Assetmark Inc. now owns 269 shares of the industrial products company’s stock worth $58,000 after acquiring an additional 83 shares during the period. Brooklyn Investment Group purchased a new position in Packaging Co. of America during the third quarter worth about $64,000. Finally, Allworth Financial LP lifted its position in Packaging Co. of America by 65.1% in the third quarter. Allworth Financial LP now owns 312 shares of the industrial products company’s stock valued at $67,000 after purchasing an additional 123 shares during the period. Hedge funds and other institutional investors own 89.78% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the company. StockNews.com cut Packaging Co. of America from a “buy” rating to a “hold” rating in a research report on Wednesday, January 29th. Wells Fargo & Company cut their price objective on Packaging Co. of America from $253.00 to $236.00 and set an “overweight” rating for the company in a research report on Thursday, January 30th. Truist Financial restated a “buy” rating and set a $265.00 target price (down from $282.00) on shares of Packaging Co. of America in a research report on Thursday, January 30th. Citigroup upped their price target on shares of Packaging Co. of America from $232.00 to $235.00 and gave the stock a “neutral” rating in a research note on Monday, January 6th. Finally, Jefferies Financial Group upgraded shares of Packaging Co. of America from a “hold” rating to a “buy” rating and raised their price objective for the company from $215.00 to $280.00 in a research note on Wednesday, December 18th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $233.00.

Insider Buying and Selling

In related news, SVP Donald R. Shirley sold 8,000 shares of Packaging Co. of America stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $240.20, for a total transaction of $1,921,600.00. Following the completion of the sale, the senior vice president now owns 15,725 shares in the company, valued at approximately $3,777,145. This trade represents a 33.72 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Paul T. Stecko sold 10,500 shares of the business’s stock in a transaction dated 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 completion of the transaction, the director now directly owns 8,881 shares of the company’s stock, valued at $2,175,045.71. The trade was a 54.18 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 20,800 shares of company stock worth $5,056,402 in the last ninety days. Insiders own 1.60% of the company’s stock.

Packaging Co. of America Stock Down 1.1 %

Packaging Co. of America stock opened at $210.03 on Friday. Packaging Co. of America has a fifty-two week low of $163.68 and a fifty-two week high of $250.82. The firm has a market capitalization of $18.86 billion, a price-to-earnings ratio of 23.52, a price-to-earnings-growth ratio of 2.29 and a beta of 0.77. The stock’s fifty day moving average is $230.33 and its two-hundred day moving average is $220.85. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.98 and a current ratio of 2.95.

Packaging Co. of America (NYSE:PKG) last issued its quarterly earnings data on Tuesday, January 28th. The industrial products company reported $2.47 EPS for the quarter, missing analysts’ consensus estimates of $2.51 by ($0.04). Packaging Co. of America had a net margin of 9.60% and a return on equity of 19.67%. Analysts predict that Packaging Co. of America will post 11.15 EPS for the current fiscal year.

Packaging Co. of America Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Friday, December 20th were paid a dividend of $1.25 per share. The ex-dividend date of this dividend was Friday, December 20th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.38%. Packaging Co. of America’s dividend payout ratio (DPR) is 55.99%.

About Packaging Co. of America

Packaging Corporation of America engages in the production of container products. It operates through the following segments: Packaging, Paper, and Corporate and Other. The Packaging segment offers a variety of corrugated packaging products, such as conventional shipping containers. The Paper segment manufactures and sells a range of papers, including communication-based papers, and pressure sensitive papers.