Sumitomo Mitsui Trust Holdings Inc. Has $42.12 Million Stake in Packaging Co. of America (NYSE:PKG)

Sumitomo Mitsui Trust Holdings Inc. increased its holdings in shares of Packaging Co. of America (NYSE:PKG - Free Report) by 2.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 258,557 shares of the industrial products company's stock after purchasing an additional 6,757 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned approximately 0.29% of Packaging Co. of America worth $42,122,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in PKG. Annis Gardner Whiting Capital Advisors LLC purchased a new position in Packaging Co. of America in the third quarter valued at $25,000. Clear Street Markets LLC increased its holdings in Packaging Co. of America by 94.6% in the first quarter. Clear Street Markets LLC now owns 181 shares of the industrial products company's stock valued at $25,000 after buying an additional 88 shares in the last quarter. ICA Group Wealth Management LLC purchased a new position in Packaging Co. of America in the fourth quarter valued at $28,000. Money Concepts Capital Corp increased its holdings in Packaging Co. of America by 60.0% in the fourth quarter. Money Concepts Capital Corp now owns 264 shares of the industrial products company's stock valued at $34,000 after buying an additional 99 shares in the last quarter. Finally, Anchor Investment Management LLC purchased a new position in Packaging Co. of America in the fourth quarter valued at $37,000. Hedge funds and other institutional investors own 89.78% of the company's stock.

Analyst Upgrades and Downgrades

PKG has been the subject of a number of recent analyst reports. StockNews.com cut shares of Packaging Co. of America from a "buy" rating to a "hold" rating in a report on Friday. Citigroup lifted their target price on shares of Packaging Co. of America from $172.00 to $183.00 and gave the company a "neutral" rating in a research report on Thursday, April 4th. Seaport Res Ptn lowered shares of Packaging Co. of America from a "buy" rating to a "neutral" rating in a research report on Monday, January 29th. Truist Financial lifted their target price on shares of Packaging Co. of America from $170.00 to $187.00 and gave the company a "buy" rating in a research report on Thursday, January 4th. Finally, BNP Paribas lowered shares of Packaging Co. of America from an "outperform" rating to a "neutral" rating and set a $182.00 price target on the stock. in a research report on Friday, April 12th. Six equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $171.29.

Packaging Co. of America Stock Up 0.9 %

PKG traded up $1.64 during trading hours on Friday, hitting $179.89. 2,529,184 shares of the company's stock were exchanged, compared to its average volume of 479,500. Packaging Co. of America has a 12-month low of $122.20 and a 12-month high of $191.27. The firm has a 50 day moving average of $181.22 and a 200 day moving average of $167.59. The firm has a market cap of $16.15 billion, a P/E ratio of 21.21, a price-to-earnings-growth ratio of 4.29 and a beta of 0.78. The company has a current ratio of 2.57, a quick ratio of 1.77 and a debt-to-equity ratio of 0.62.

Packaging Co. of America (NYSE:PKG - Get Free Report) last announced its earnings results on Thursday, January 25th. The industrial products company reported $2.13 earnings per share for the quarter, topping the consensus estimate of $1.83 by $0.30. Packaging Co. of America had a net margin of 9.81% and a return on equity of 20.25%. The firm had revenue of $1.94 billion for the quarter, compared to the consensus estimate of $1.90 billion. During the same period in the prior year, the firm earned $2.35 EPS. The firm's revenue for the quarter was down 2.0% on a year-over-year basis. Analysts predict that Packaging Co. of America will post 8.31 EPS for the current fiscal year.

Packaging Co. of America Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Friday, March 15th were given a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.78%. The ex-dividend date was Thursday, March 14th. Packaging Co. of America's dividend payout ratio is presently 58.96%.

Insider Buying and Selling at Packaging Co. of America

In other Packaging Co. of America news, CFO Robert P. Mundy sold 10,000 shares of the stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $182.51, for a total value of $1,825,100.00. Following the sale, the chief financial officer now directly owns 46,454 shares of the company's stock, valued at approximately $8,478,319.54. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, CFO Robert P. Mundy sold 10,000 shares of the company's stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $182.51, for a total value of $1,825,100.00. Following the completion of the transaction, the chief financial officer now owns 46,454 shares in the company, valued at approximately $8,478,319.54. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, VP Thomas A. Hassfurther sold 13,850 shares of the stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $181.06, for a total transaction of $2,507,681.00. Following the sale, the vice president now owns 187,647 shares of the company's stock, valued at approximately $33,975,365.82. The disclosure for this sale can be found here. In the last three months, insiders have sold 38,041 shares of company stock valued at $6,799,177. Insiders own 1.60% of the company's stock.

Packaging Co. of America Profile

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.