Principal Financial Group Inc. Cuts Stock Holdings in Packaging Co. of America (NYSE:PKG)

Principal Financial Group Inc. lessened its holdings in Packaging Co. of America (NYSE:PKG - Free Report) by 3.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 424,015 shares of the industrial products company's stock after selling 14,547 shares during the quarter. Principal Financial Group Inc. owned 0.47% of Packaging Co. of America worth $69,076,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of PKG. USA Financial Formulas lifted its holdings in Packaging Co. of America by 23,659.1% in the fourth quarter. USA Financial Formulas now owns 5,227 shares of the industrial products company's stock valued at $852,000 after acquiring an additional 5,205 shares during the period. Envestnet Portfolio Solutions Inc. lifted its position in shares of Packaging Co. of America by 38.3% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 6,004 shares of the industrial products company's stock valued at $978,000 after acquiring an additional 1,662 shares during the period. QRG Capital Management Inc. boosted its stake in shares of Packaging Co. of America by 18.2% during the 4th quarter. QRG Capital Management Inc. now owns 29,837 shares of the industrial products company's stock worth $4,861,000 after acquiring an additional 4,601 shares in the last quarter. Johnson Investment Counsel Inc. acquired a new stake in shares of Packaging Co. of America in the 4th quarter worth approximately $455,000. Finally, Dana Investment Advisors Inc. boosted its position in Packaging Co. of America by 5.8% during the fourth quarter. Dana Investment Advisors Inc. now owns 6,050 shares of the industrial products company's stock worth $986,000 after purchasing an additional 334 shares in the last quarter. 89.78% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Packaging Co. of America

In other news, CFO Robert P. Mundy sold 10,000 shares of the business's 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 completion of the transaction, the chief financial officer now directly owns 46,454 shares in the company, valued at approximately $8,478,319.54. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, CFO Robert P. Mundy sold 10,000 shares of the business's stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $182.51, for a total transaction of $1,825,100.00. Following the completion of the transaction, the chief financial officer now owns 46,454 shares of the company's stock, valued at approximately $8,478,319.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP Thomas A. Hassfurther sold 13,850 shares of the firm's stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $181.06, for a total value of $2,507,681.00. Following the completion of the sale, the vice president now directly owns 187,647 shares in the company, valued at $33,975,365.82. The disclosure for this sale can be found here. Insiders sold a total of 38,041 shares of company stock valued at $6,799,177 over the last quarter. 1.70% of the stock is owned by corporate insiders.

Packaging Co. of America Trading Up 0.2 %

Packaging Co. of America stock traded up $0.39 during midday trading on Wednesday, hitting $182.03. 633,868 shares of the stock were exchanged, compared to its average volume of 673,899. The company has a quick ratio of 1.74, a current ratio of 2.46 and a debt-to-equity ratio of 0.62. Packaging Co. of America has a 52 week low of $122.20 and a 52 week high of $191.27. The company has a fifty day simple moving average of $182.28 and a two-hundred day simple moving average of $170.76. The stock has a market capitalization of $16.35 billion, a PE ratio of 22.75, a P/E/G ratio of 4.39 and a beta of 0.80.

Packaging Co. of America (NYSE:PKG - Get Free Report) last announced its quarterly earnings results on Tuesday, April 23rd. The industrial products company reported $1.72 earnings per share for the quarter, beating analysts' consensus estimates of $1.63 by $0.09. Packaging Co. of America had a net margin of 9.25% and a return on equity of 18.80%. The firm had revenue of $1.98 billion for the quarter, compared to analyst estimates of $1.91 billion. During the same quarter in the previous year, the firm posted $2.20 earnings per share. The business's revenue was up .2% on a year-over-year basis. Equities research analysts anticipate that Packaging Co. of America will post 8.27 EPS for the current fiscal year.

Packaging Co. of America Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 14th will be issued a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a dividend yield of 2.75%. The ex-dividend date is Friday, June 14th. Packaging Co. of America's dividend payout ratio (DPR) is currently 62.50%.

Analyst Ratings Changes

A number of research analysts have commented on PKG shares. Bank of America upgraded shares of Packaging Co. of America from a "neutral" rating to a "buy" rating and increased their price objective for the company from $172.00 to $202.00 in a research note on Monday, March 4th. Wells Fargo & Company raised Packaging Co. of America from an "equal weight" rating to an "overweight" rating and boosted their price objective for the company from $187.00 to $191.00 in a report on Wednesday, April 24th. StockNews.com lowered Packaging Co. of America from a "buy" rating to a "hold" rating in a research report on Friday, April 19th. Citigroup dropped their price target on Packaging Co. of America from $183.00 to $181.00 and set a "neutral" rating on the stock in a research report on Thursday, April 25th. Finally, BNP Paribas downgraded shares of Packaging Co. of America from an "outperform" rating to a "neutral" rating and set a $182.00 price objective for the company. in a report on Friday, April 12th. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, Packaging Co. of America currently has a consensus rating of "Hold" and a consensus target price of $173.57.

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.