Mn Services Vermogensbeheer B.V. Sells 2,600 Shares of Packaging Co. of America (NYSE:PKG)

Mn Services Vermogensbeheer B.V. lessened its stake in shares of Packaging Co. of America (NYSE:PKG) by 7.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 32,600 shares of the industrial products company’s stock after selling 2,600 shares during the quarter. Mn Services Vermogensbeheer B.V.’s holdings in Packaging Co. of America were worth $6,455,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Asset Management One Co. Ltd. increased its holdings in Packaging Co. of America by 1.3% during the 4th quarter. Asset Management One Co. Ltd. now owns 39,704 shares of the industrial products company’s stock valued at $9,016,000 after purchasing an additional 514 shares in the last quarter. Principal Securities Inc. increased its holdings in Packaging Co. of America by 38.9% during the 4th quarter. Principal Securities Inc. now owns 1,806 shares of the industrial products company’s stock valued at $407,000 after purchasing an additional 506 shares in the last quarter. Allworth Financial LP increased its holdings in Packaging Co. of America by 26.0% during the 4th quarter. Allworth Financial LP now owns 393 shares of the industrial products company’s stock valued at $94,000 after purchasing an additional 81 shares in the last quarter. J.W. Cole Advisors Inc. increased its holdings in Packaging Co. of America by 19.0% during the 4th quarter. J.W. Cole Advisors Inc. now owns 2,084 shares of the industrial products company’s stock valued at $469,000 after purchasing an additional 333 shares in the last quarter. Finally, Principal Financial Group Inc. increased its holdings in Packaging Co. of America by 0.7% during the 4th quarter. Principal Financial Group Inc. now owns 463,899 shares of the industrial products company’s stock valued at $104,445,000 after purchasing an additional 3,381 shares in the last quarter. Institutional investors own 89.78% of the company’s stock.

Packaging Co. of America Trading Up 0.4%

NYSE PKG opened at $189.39 on Tuesday. The company has a current ratio of 2.95, a quick ratio of 1.98 and a debt-to-equity ratio of 0.58. Packaging Co. of America has a 12 month low of $172.72 and a 12 month high of $250.82. The company has a market capitalization of $17.04 billion, a PE ratio of 21.21, a P/E/G ratio of 2.41 and a beta of 0.84. The stock has a 50-day simple moving average of $189.32 and a 200 day simple moving average of $207.24.

Packaging Co. of America (NYSE:PKG) last issued its earnings results on Tuesday, April 22nd. The industrial products company reported $2.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.21 by $0.10. Packaging Co. of America had a return on equity of 19.67% and a net margin of 9.60%. The firm had revenue of $2.14 billion for the quarter, compared to analysts’ expectations of $2.12 billion. Research analysts forecast that Packaging Co. of America will post 10.44 EPS for the current year.

Packaging Co. of America Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Friday, June 13th will be issued a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a yield of 2.64%. The ex-dividend date of this dividend is Friday, June 13th. Packaging Co. of America’s dividend payout ratio (DPR) is currently 52.30%.

Wall Street Analyst Weigh In

PKG has been the subject of a number of recent analyst reports. Wells Fargo & Company reaffirmed an “equal weight” rating and set a $180.00 price target (down from $205.00) on shares of Packaging Co. of America in a report on Friday, May 9th. Jefferies Financial Group cut Packaging Co. of America from a “buy” rating to a “hold” rating and lowered their target price for the company from $245.00 to $205.00 in a research note on Monday. Wall Street Zen cut Packaging Co. of America from a “buy” rating to a “hold” rating in a research note on Sunday, April 6th. UBS Group started coverage on Packaging Co. of America in a research note on Wednesday, June 4th. They issued a “neutral” rating and a $200.00 target price for the company. Finally, Truist Financial lowered their target price on Packaging Co. of America from $265.00 to $238.00 and set a “buy” rating for the company in a research note on Tuesday, April 22nd. Five investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $209.67.

Packaging Co. of America Profile

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.