Dai ichi Life Insurance Company Ltd Buys New Position in Packaging Co. of America (NYSE:PKG)

Dai ichi Life Insurance Company Ltd purchased a new stake in Packaging Co. of America (NYSE:PKG - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 41,777 shares of the industrial products company's stock, valued at approximately $6,806,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Annis Gardner Whiting Capital Advisors LLC bought a new stake in shares of Packaging Co. of America during the third quarter valued at approximately $25,000. First Horizon Advisors Inc. grew its stake in shares of Packaging Co. of America by 60.5% during the fourth quarter. First Horizon Advisors Inc. now owns 183 shares of the industrial products company's stock valued at $30,000 after purchasing an additional 69 shares during the last quarter. Gables Capital Management Inc. bought a new stake in shares of Packaging Co. of America during the fourth quarter valued at approximately $31,000. Anchor Investment Management LLC bought a new stake in shares of Packaging Co. of America during the fourth quarter valued at approximately $37,000. Finally, Fortis Group Advisors LLC bought a new stake in shares of Packaging Co. of America during the third quarter valued at approximately $46,000. 89.78% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CFO Robert P. Mundy sold 10,000 shares of Packaging Co. of America stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $182.51, for a total transaction of $1,825,100.00. Following the completion of the sale, the chief financial officer now 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 Securities & Exchange Commission, which is accessible through this link. In other Packaging Co. of America news, Director Karen E. Gowland acquired 300 shares of the company's stock in a transaction on Wednesday, May 15th. The stock was acquired at an average price of $182.06 per share, for a total transaction of $54,618.00. Following the purchase, the director now directly owns 916 shares of the company's stock, valued at $166,766.96. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Robert P. Mundy sold 10,000 shares of Packaging Co. of America stock in a transaction dated 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 sale, the chief financial officer now owns 46,454 shares of the company's stock, valued at approximately $8,478,319.54. 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 in the last quarter. Company insiders own 1.70% of the company's stock.

Packaging Co. of America Stock Down 0.3 %

Packaging Co. of America stock traded down $0.55 during mid-day trading on Wednesday, reaching $181.30. The company's stock had a trading volume of 375,467 shares, compared to its average volume of 663,077. The company has a market capitalization of $16.28 billion, a price-to-earnings ratio of 22.73, a price-to-earnings-growth ratio of 4.39 and a beta of 0.80. Packaging Co. of America has a 12 month low of $122.20 and a 12 month high of $191.27. The business's 50 day simple moving average is $181.93 and its 200 day simple moving average is $171.74. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.74 and a current ratio of 2.46.

Packaging Co. of America (NYSE:PKG - Get Free Report) last released its 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 business had revenue of $1.98 billion during the quarter, compared to the consensus estimate of $1.91 billion. During the same quarter last year, the firm earned $2.20 earnings per share. The firm's revenue for the quarter was up .2% compared to the same quarter last year. As a group, research analysts anticipate that Packaging Co. of America will post 8.27 earnings per share for the current year.

Packaging Co. of America Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 14th will be given a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.76%. The ex-dividend date is Friday, June 14th. Packaging Co. of America's dividend payout ratio (DPR) is presently 62.50%.

Analyst Upgrades and Downgrades

PKG has been the topic of a number of recent research reports. Seaport Res Ptn cut shares of Packaging Co. of America from a "buy" rating to a "neutral" rating in a research note on Monday, January 29th. Bank of America raised shares of Packaging Co. of America from a "neutral" rating to a "buy" rating and raised their price objective for the company from $172.00 to $202.00 in a research note on Monday, March 4th. Citigroup cut their target price on shares of 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. BNP Paribas lowered shares of Packaging Co. of America from an "outperform" rating to a "neutral" rating and set a $182.00 target price 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 increased their target price for the stock from $187.00 to $191.00 in a report on Wednesday, April 24th. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $173.57.

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.