Cambiar Investors LLC Sells 7,298 Shares of Packaging Co. of America (NYSE:PKG)

Cambiar Investors LLC lowered its stake in shares of Packaging Co. of America (NYSE:PKG) by 11.5% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 56,065 shares of the industrial products company’s stock after selling 7,298 shares during the quarter. Cambiar Investors LLC’s holdings in Packaging Co. of America were worth $12,622,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in PKG. Stifel Financial Corp grew its holdings in Packaging Co. of America by 1,462.2% during the 3rd quarter. Stifel Financial Corp now owns 573,073 shares of the industrial products company’s stock worth $123,440,000 after acquiring an additional 536,389 shares during the last quarter. International Assets Investment Management LLC grew its holdings in Packaging Co. of America by 41,151.7% during the 3rd quarter. International Assets Investment Management LLC now owns 155,519 shares of the industrial products company’s stock worth $33,499,000 after acquiring an additional 155,142 shares during the last quarter. Conning Inc. bought a new stake in Packaging Co. of America during the 4th quarter worth about $32,329,000. Two Sigma Advisers LP grew its holdings in Packaging Co. of America by 218.1% during the 3rd quarter. Two Sigma Advisers LP now owns 207,700 shares of the industrial products company’s stock worth $44,739,000 after acquiring an additional 142,400 shares during the last quarter. Finally, Mizuho Securities USA LLC grew its holdings in Packaging Co. of America by 1,800.2% during the 3rd quarter. Mizuho Securities USA LLC now owns 130,583 shares of the industrial products company’s stock worth $28,128,000 after acquiring an additional 123,711 shares during the last quarter. Institutional investors own 89.78% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on PKG shares. Jefferies Financial Group upgraded shares of Packaging Co. of America from a “hold” rating to a “buy” rating and upped their target price for the company from $215.00 to $280.00 in a research report on Wednesday, December 18th. 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 cut 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 target price on shares of Packaging Co. of America from $232.00 to $235.00 and gave the company a “neutral” rating in a research report on Monday, January 6th. Finally, Truist Financial restated a “buy” rating and set a $265.00 target price (down from $282.00) on shares of Packaging Co. of America in a research report on Thursday, January 30th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $233.00.

Insiders Place Their Bets

In other Packaging Co. of America news, Director Paul T. Stecko sold 10,500 shares of the firm’s stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $244.91, for a total transaction of $2,571,555.00. Following the sale, the director now directly owns 8,881 shares in the company, valued at approximately $2,175,045.71. This trade represents a 54.18 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Joseph Vaughn sold 2,300 shares of the firm’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $244.89, for a total transaction of $563,247.00. Following the sale, the senior vice president now owns 9,197 shares in the company, valued at $2,252,253.33. This trade represents a 20.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.60% of the company’s stock.

Packaging Co. of America Stock Performance

Shares of NYSE:PKG opened at $209.37 on Tuesday. The company has a market capitalization of $18.80 billion, a price-to-earnings ratio of 23.45, a P/E/G ratio of 2.40 and a beta of 0.77. The firm’s 50 day simple moving average is $229.62 and its 200 day simple moving average is $221.35. 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 fifty-two week low of $163.68 and a fifty-two week 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 for the quarter, missing analysts’ consensus estimates of $2.51 by ($0.04). Packaging Co. of America had a net margin of 9.60% and a return on equity of 19.67%. As a group, sell-side analysts forecast that Packaging Co. of America will post 10.6 earnings per share for the current year.

Packaging Co. of America Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Friday, December 20th were issued a dividend of $1.25 per share. The ex-dividend date of this dividend was Friday, December 20th. This represents a $5.00 annualized dividend and a yield of 2.39%. Packaging Co. of America’s dividend payout ratio (DPR) is currently 55.99%.

Packaging Co. of America Company Profile

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.