AEGON ASSET MANAGEMENT UK Plc Sells 2,037 Shares of Packaging Co. of America (NYSE:PKG)

AEGON ASSET MANAGEMENT UK Plc decreased its holdings in Packaging Co. of America (NYSE:PKG - Free Report) by 2.5% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 78,742 shares of the industrial products company's stock after selling 2,037 shares during the period. AEGON ASSET MANAGEMENT UK Plc owned about 0.09% of Packaging Co. of America worth $15,581,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in PKG. Norges Bank bought a new position in shares of Packaging Co. of America during the fourth quarter worth approximately $258,928,000. GAMMA Investing LLC increased its position in Packaging Co. of America by 25,461.0% during the 1st quarter. GAMMA Investing LLC now owns 621,387 shares of the industrial products company's stock worth $123,047,000 after purchasing an additional 618,956 shares in the last quarter. Balyasny Asset Management L.P. boosted its holdings in shares of Packaging Co. of America by 106.7% during the 4th quarter. Balyasny Asset Management L.P. now owns 848,395 shares of the industrial products company's stock valued at $190,999,000 after acquiring an additional 438,012 shares in the last quarter. Select Equity Group L.P. bought a new position in Packaging Co. of America in the 4th quarter valued at approximately $72,339,000. Finally, Point72 Asset Management L.P. increased its position in Packaging Co. of America by 642.7% in the 4th quarter. Point72 Asset Management L.P. now owns 271,806 shares of the industrial products company's stock valued at $61,192,000 after acquiring an additional 235,211 shares during the period. Institutional investors own 89.78% of the company's stock.

Analyst Ratings Changes

PKG has been the subject of a number of analyst reports. Wells Fargo & Company restated an "equal weight" rating and set a $180.00 price objective (down from $205.00) on shares of Packaging Co. of America in a research report on Friday, May 9th. Wall Street Zen downgraded Packaging Co. of America from a "buy" rating to a "hold" rating in a research note on Sunday, April 6th. UBS Group initiated coverage on shares of Packaging Co. of America in a research report on Wednesday. They set a "neutral" rating and a $200.00 target price for the company. Seaport Res Ptn upgraded Packaging Co. of America from a "hold" rating to a "strong-buy" rating in a research note on Thursday, February 13th. Finally, Truist Financial cut their target price on Packaging Co. of America from $265.00 to $238.00 and set a "buy" rating on the stock in a research note on Tuesday, April 22nd. Four equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $222.17.

Packaging Co. of America Stock Up 0.6%

Shares of PKG traded up $1.21 during mid-day trading on Thursday, reaching $194.55. The company had a trading volume of 899,313 shares, compared to its average volume of 729,409. 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 firm has a 50-day moving average price of $188.40 and a 200 day moving average price of $210.60. Packaging Co. of America has a 52 week low of $172.72 and a 52 week high of $250.82. The company has a market capitalization of $17.51 billion, a price-to-earnings ratio of 21.79, a price-to-earnings-growth ratio of 2.41 and a beta of 0.85.

Packaging Co. of America (NYSE:PKG - Get Free Report) last posted its earnings results on Tuesday, April 22nd. The industrial products company reported $2.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.21 by $0.10. Packaging Co. of America had a net margin of 9.60% and a return on equity of 19.67%. The business had revenue of $2.14 billion for the quarter, compared to analysts' expectations of $2.12 billion. On average, sell-side analysts forecast that Packaging Co. of America will post 10.44 EPS for the current year.

Packaging Co. of America Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Friday, June 13th will be given a $1.25 dividend. This represents a $5.00 annualized dividend and a yield of 2.57%. The ex-dividend date is Friday, June 13th. Packaging Co. of America's dividend payout ratio is presently 52.30%.

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.