Allianz Asset Management GmbH Sells 14,810 Shares of Packaging Co. of America (NYSE:PKG)

Allianz Asset Management GmbH lessened its position in shares of Packaging Co. of America (NYSE:PKG) by 4.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 290,800 shares of the industrial products company’s stock after selling 14,810 shares during the quarter. Allianz Asset Management GmbH owned about 0.32% of Packaging Co. of America worth $65,468,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Larson Financial Group LLC grew its position in Packaging Co. of America by 234.7% during the 3rd quarter. Larson Financial Group LLC now owns 164 shares of the industrial products company’s stock worth $35,000 after purchasing an additional 115 shares during the last quarter. Fortitude Family Office LLC grew its position in Packaging Co. of America by 150.8% during the 4th quarter. Fortitude Family Office LLC now owns 163 shares of the industrial products company’s stock worth $37,000 after purchasing an additional 98 shares during the last quarter. Centricity Wealth Management LLC purchased a new stake in Packaging Co. of America during the 4th quarter worth approximately $44,000. Golden State Wealth Management LLC purchased a new stake in Packaging Co. of America during the 4th quarter worth approximately $48,000. Finally, Assetmark Inc. grew its position in Packaging Co. of America by 44.6% during the 3rd quarter. Assetmark Inc. now owns 269 shares of the industrial products company’s stock worth $58,000 after purchasing an additional 83 shares during the last quarter. Institutional investors own 89.78% of the company’s stock.

Insider Buying and Selling

In related news, SVP Joseph Vaughn sold 2,300 shares of the stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $244.89, for a total transaction of $563,247.00. Following the sale, the senior vice president now directly owns 9,197 shares of the company’s stock, valued at approximately $2,252,253.33. This represents a 20.01 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 1.60% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several analysts have weighed in on PKG shares. Truist Financial reissued a “buy” rating and set a $265.00 target price (down previously from $282.00) on shares of Packaging Co. of America in a research report on Thursday, January 30th. StockNews.com downgraded shares of Packaging Co. of America from a “buy” rating to a “hold” rating in a research report on Wednesday, January 29th. Wells Fargo & Company dropped their target price on shares of Packaging Co. of America from $253.00 to $236.00 and set an “overweight” rating on the stock in a research report on Thursday, January 30th. Citigroup upped their price objective on shares of Packaging Co. of America from $232.00 to $235.00 and gave the company a “neutral” rating in a report on Monday, January 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. Three analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $233.00.

Packaging Co. of America Stock Down 0.7 %

PKG stock opened at $208.19 on Friday. The firm’s fifty day simple moving average is $224.09 and its 200-day simple moving average is $222.00. The company has a market capitalization of $18.70 billion, a P/E ratio of 23.31, a price-to-earnings-growth ratio of 2.41 and a beta of 0.77. 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 has a 12 month low of $169.00 and a 12 month high of $250.82.

Packaging Co. of America (NYSE:PKG) last announced its quarterly earnings results on Tuesday, January 28th. The industrial products company reported $2.47 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.51 by ($0.04). Packaging Co. of America had a return on equity of 19.67% and a net margin of 9.60%. As a group, equities research analysts forecast that Packaging Co. of America will post 10.44 earnings per share for the current year.

Packaging Co. of America Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Friday, December 20th were issued a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a yield of 2.40%. The ex-dividend date of this dividend was Friday, December 20th. Packaging Co. of America’s dividend payout ratio (DPR) is presently 55.99%.

About Packaging Co. of America

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.