Swiss National Bank Reduces Stock Holdings in Packaging Co. of America (NYSE:PKG)

Swiss National Bank trimmed its position in shares of Packaging Co. of America (NYSE:PKG - Free Report) by 2.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 281,100 shares of the industrial products company's stock after selling 8,200 shares during the period. Swiss National Bank owned 0.31% of Packaging Co. of America worth $45,794,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Raymond James & Associates lifted its stake in shares of Packaging Co. of America by 16.4% during the 3rd quarter. Raymond James & Associates now owns 159,277 shares of the industrial products company's stock worth $24,457,000 after buying an additional 22,493 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Packaging Co. of America by 29.7% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 29,160 shares of the industrial products company's stock worth $4,478,000 after purchasing an additional 6,675 shares during the period. Mackenzie Financial Corp raised its position in shares of Packaging Co. of America by 16.7% in the 3rd quarter. Mackenzie Financial Corp now owns 20,733 shares of the industrial products company's stock valued at $3,145,000 after buying an additional 2,974 shares in the last quarter. Strs Ohio boosted its position in shares of Packaging Co. of America by 7.7% during the 3rd quarter. Strs Ohio now owns 38,210 shares of the industrial products company's stock worth $5,867,000 after acquiring an additional 2,747 shares in the last quarter. Finally, IFM Investors Pty Ltd increased its stake in Packaging Co. of America by 3.0% in the third quarter. IFM Investors Pty Ltd now owns 19,068 shares of the industrial products company's stock valued at $2,928,000 after acquiring an additional 554 shares during the last quarter. Institutional investors and hedge funds own 89.78% of the company's stock.

Insider Buying and Selling

In other news, VP Thomas A. Hassfurther sold 14,191 shares of Packaging Co. of America stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $173.80, for a total value of $2,466,395.80. Following the completion of the sale, the vice president now owns 183,930 shares in the company, valued at approximately $31,967,034. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, VP Thomas A. Hassfurther sold 13,850 shares of the company's stock in a transaction that occurred 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 transaction, the vice president now directly owns 187,647 shares of the company's stock, valued at $33,975,365.82. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Thomas A. Hassfurther sold 14,191 shares of the stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $173.80, for a total value of $2,466,395.80. Following the completion of the transaction, the vice president now owns 183,930 shares in the company, valued at $31,967,034. The disclosure for this sale can be found here. Insiders sold 38,041 shares of company stock valued at $6,799,177 over the last quarter. Insiders own 1.70% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on PKG shares. Citigroup reduced their target price on Packaging Co. of America from $183.00 to $181.00 and set a "neutral" rating on the stock in a report on Thursday, April 25th. Bank of America raised Packaging Co. of America from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $172.00 to $202.00 in a research note on Monday, March 4th. Seaport Res Ptn cut shares of Packaging Co. of America from a "buy" rating to a "neutral" rating in a report on Monday, January 29th. 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 report on Friday, April 12th. Finally, Wells Fargo & Company upgraded shares of Packaging Co. of America from an "equal weight" rating to an "overweight" rating and raised their target price for the company from $187.00 to $191.00 in a research report on Wednesday, April 24th. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat, Packaging Co. of America currently has an average rating of "Hold" and a consensus price target of $173.57.

Packaging Co. of America Trading Up 1.7 %

PKG traded up $3.00 during trading on Tuesday, reaching $179.15. 556,810 shares of the company's stock were exchanged, compared to its average volume of 689,007. 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 has a one year low of $122.20 and a one year high of $191.27. The firm has a fifty day moving average price of $182.41 and a two-hundred day moving average price of $169.64. The stock has a market capitalization of $16.08 billion, a PE ratio of 22.39, a price-to-earnings-growth ratio of 4.29 and a beta of 0.80.

Packaging Co. of America (NYSE:PKG - Get Free Report) last announced its earnings results on Tuesday, April 23rd. The industrial products company reported $1.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.63 by $0.09. Packaging Co. of America had a return on equity of 18.94% and a net margin of 9.25%. The business had revenue of $1.98 billion during the quarter, compared to analyst estimates of $1.91 billion. During the same period last year, the company earned $2.20 EPS. Packaging Co. of America's revenue for the quarter was up .2% compared to the same quarter last year. As a group, equities research analysts forecast that Packaging Co. of America will post 8.21 earnings per share for the current fiscal year.

Packaging Co. of America Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Friday, March 15th were given a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a dividend yield of 2.79%. The ex-dividend date was Thursday, March 14th. Packaging Co. of America's dividend payout ratio (DPR) is presently 62.50%.

About Packaging Co. of America

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.