Handelsbanken Fonder AB Cuts Holdings in Packaging Co. of America (NYSE:PKG)

Handelsbanken Fonder AB decreased its position in Packaging Co. of America (NYSE:PKG - Free Report) by 5.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 62,744 shares of the industrial products company's stock after selling 3,638 shares during the period. Handelsbanken Fonder AB owned about 0.07% of Packaging Co. of America worth $12,425,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Norges Bank bought a new position in shares of Packaging Co. of America in the fourth quarter valued at approximately $258,928,000. GAMMA Investing LLC grew its position in shares of 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 valued at $123,047,000 after purchasing an additional 618,956 shares in the last quarter. Balyasny Asset Management L.P. increased its holdings in shares of Packaging Co. of America by 106.7% in the fourth quarter. Balyasny Asset Management L.P. now owns 848,395 shares of the industrial products company's stock worth $190,999,000 after purchasing an additional 438,012 shares during the period. Select Equity Group L.P. purchased a new stake in shares of Packaging Co. of America in the fourth quarter worth $72,339,000. Finally, Point72 Asset Management L.P. boosted its stake in Packaging Co. of America by 642.7% during the fourth quarter. Point72 Asset Management L.P. now owns 271,806 shares of the industrial products company's stock valued at $61,192,000 after buying an additional 235,211 shares during the period. Institutional investors own 89.78% of the company's stock.

Packaging Co. of America Trading Down 1.8%

Packaging Co. of America stock traded down $3.50 during trading hours on Friday, reaching $188.56. The stock had a trading volume of 239,072 shares, compared to its average volume of 734,129. The company has a fifty day simple moving average of $188.79 and a 200-day simple moving average of $208.61. Packaging Co. of America has a 52 week low of $172.72 and a 52 week high of $250.82. The stock has a market cap of $16.97 billion, a PE ratio of 21.12, a PEG ratio of 2.41 and a beta of 0.84. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.95 and a quick ratio of 1.98.

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

Packaging Co. of America Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Friday, June 13th will be paid a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.65%. The ex-dividend date of this dividend is Friday, June 13th. Packaging Co. of America's payout ratio is 52.30%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Truist Financial lowered their price target on Packaging Co. of America from $265.00 to $238.00 and set a "buy" rating on the stock in a research report on Tuesday, April 22nd. UBS Group began coverage on shares of Packaging Co. of America in a research report on Wednesday, June 4th. They set a "neutral" rating and a $200.00 price target on the stock. Wells Fargo & Company restated an "equal weight" rating and issued a $180.00 price objective (down from $205.00) on shares of Packaging Co. of America in a report on Friday, May 9th. Wall Street Zen cut shares of Packaging Co. of America from a "buy" rating to a "hold" rating in a research note on Sunday, April 6th. Finally, Seaport Res Ptn raised shares of Packaging Co. of America from a "hold" rating to a "strong-buy" rating in a report on Thursday, February 13th. Four equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $222.17.

Packaging Co. of America Company 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.