Blueshift Asset Management LLC Sells 260 Shares of Packaging Co. of America (NYSE:PKG)

Blueshift Asset Management LLC trimmed its stake in Packaging Co. of America (NYSE:PKG) by 9.5% during the third quarter, HoldingsChannel.com reports. The fund owned 2,470 shares of the industrial products company’s stock after selling 260 shares during the quarter. Blueshift Asset Management LLC’s holdings in Packaging Co. of America were worth $532,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the stock. Summit Financial Strategies Inc. grew its holdings in shares of Packaging Co. of America by 5.5% in the 2nd quarter. Summit Financial Strategies Inc. now owns 234,495 shares of the industrial products company’s stock worth $42,809,000 after purchasing an additional 12,129 shares during the last quarter. DekaBank Deutsche Girozentrale grew its stake in Packaging Co. of America by 6.8% during the first quarter. DekaBank Deutsche Girozentrale now owns 224,273 shares of the industrial products company’s stock worth $41,839,000 after buying an additional 14,277 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its holdings in shares of Packaging Co. of America by 227.5% during the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 32,243 shares of the industrial products company’s stock worth $6,945,000 after buying an additional 22,397 shares in the last quarter. M&G Plc bought a new position in shares of Packaging Co. of America in the second quarter valued at approximately $840,000. Finally, Dai ichi Life Insurance Company Ltd raised its stake in shares of Packaging Co. of America by 10.5% in the second quarter. Dai ichi Life Insurance Company Ltd now owns 35,193 shares of the industrial products company’s stock valued at $6,425,000 after acquiring an additional 3,355 shares during the last quarter. 89.78% of the stock is currently owned by institutional investors.

Packaging Co. of America Trading Down 0.4 %

PKG stock opened at $247.03 on Thursday. The company has a quick ratio of 1.98, a current ratio of 2.95 and a debt-to-equity ratio of 0.58. Packaging Co. of America has a twelve month low of $156.87 and a twelve month high of $250.82. The company has a market cap of $22.18 billion, a P/E ratio of 28.79, a PEG ratio of 3.47 and a beta of 0.76. The business has a fifty day moving average of $226.17 and a 200-day moving average of $203.56.

Packaging Co. of America (NYSE:PKG) last announced its quarterly earnings data on Tuesday, October 22nd. The industrial products company reported $2.65 earnings per share for the quarter, topping the consensus estimate of $2.50 by $0.15. The firm had revenue of $2.18 billion during the quarter, compared to analysts’ expectations of $2.09 billion. Packaging Co. of America had a return on equity of 19.10% and a net margin of 9.46%. The company’s quarterly revenue was up 14.9% compared to the same quarter last year. During the same period in the previous year, the business posted $2.05 EPS. As a group, equities research analysts expect that Packaging Co. of America will post 9.07 EPS for the current year.

Analyst Ratings Changes

A number of research firms recently weighed in on PKG. Citigroup raised their price target on Packaging Co. of America from $199.00 to $221.00 and gave the company a “neutral” rating in a report on Wednesday, October 2nd. Truist Financial restated a “buy” rating and set a $252.00 target price (up previously from $242.00) on shares of Packaging Co. of America in a report on Thursday, October 24th. StockNews.com cut Packaging Co. of America from a “buy” rating to a “hold” rating in a report on Wednesday, November 20th. Finally, Wells Fargo & Company increased their price objective on shares of Packaging Co. of America from $235.00 to $253.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, Packaging Co. of America has a consensus rating of “Hold” and a consensus target price of $221.60.

Insider Activity at Packaging Co. of America

In related news, Director Paul T. Stecko sold 10,500 shares of Packaging Co. of America stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $244.91, for a total transaction of $2,571,555.00. Following the completion of the sale, the director now directly owns 8,881 shares of the company’s stock, valued at $2,175,045.71. The trade was a 54.18 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Robert P. Mundy sold 12,500 shares of the company’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $240.62, for a total value of $3,007,750.00. Following the completion of the sale, the chief financial officer now owns 43,954 shares of the company’s stock, valued at $10,576,211.48. This represents a 22.14 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 31,000 shares of company stock worth $7,500,905 over the last ninety days. Company insiders own 1.60% of the company’s stock.

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.