Packaging Co. of America (NYSE:PKG) Shares Sold by Northwest & Ethical Investments L.P.

Northwest & Ethical Investments L.P. decreased its position in Packaging Co. of America (NYSE:PKG) by 32.1% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 45,105 shares of the industrial products company’s stock after selling 21,324 shares during the period. Northwest & Ethical Investments L.P.’s holdings in Packaging Co. of America were worth $9,716,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Summit Financial Strategies Inc. increased its holdings in Packaging Co. of America by 5.5% during the 2nd quarter. Summit Financial Strategies Inc. now owns 234,495 shares of the industrial products company’s stock valued at $42,809,000 after acquiring an additional 12,129 shares in the last quarter. DekaBank Deutsche Girozentrale lifted its stake in Packaging Co. of America by 6.8% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 224,273 shares of the industrial products company’s stock valued at $41,839,000 after buying an additional 14,277 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its stake in Packaging Co. of America by 227.5% in the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 32,243 shares of the industrial products company’s stock valued at $6,945,000 after buying an additional 22,397 shares in the last quarter. M&G Plc acquired a new stake in Packaging Co. of America during the 2nd quarter valued at $840,000. Finally, Dai ichi Life Insurance Company Ltd increased its position in Packaging Co. of America by 10.5% during the second quarter. Dai ichi Life Insurance Company Ltd now owns 35,193 shares of the industrial products company’s stock worth $6,425,000 after buying an additional 3,355 shares in the last quarter. Hedge funds and other institutional investors own 89.78% of the company’s stock.

Packaging Co. of America Stock Performance

Shares of PKG stock opened at $247.03 on Friday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.98 and a current ratio of 2.95. The firm has a market capitalization of $22.19 billion, a price-to-earnings ratio of 28.79, a price-to-earnings-growth ratio of 3.47 and a beta of 0.76. Packaging Co. of America has a one year low of $156.87 and a one year high of $250.82. The company has a 50 day moving average price of $226.87 and a 200 day moving average price of $203.86.

Packaging Co. of America (NYSE:PKG) last released its quarterly earnings data on Tuesday, October 22nd. The industrial products company reported $2.65 EPS for the quarter, topping analysts’ consensus estimates of $2.50 by $0.15. Packaging Co. of America had a return on equity of 19.10% and a net margin of 9.46%. The business had revenue of $2.18 billion during the quarter, compared to the consensus estimate of $2.09 billion. During the same period in the prior year, the firm posted $2.05 EPS. The business’s revenue for the quarter was up 14.9% on a year-over-year basis. Sell-side analysts anticipate that Packaging Co. of America will post 9.07 EPS for the current year.

Insider Transactions at Packaging Co. of America

In related news, Director Paul T. Stecko sold 10,500 shares of the company’s stock in a transaction 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 completion of the sale, the director now directly owns 8,881 shares of the company’s stock, valued at approximately $2,175,045.71. This represents a 54.18 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Donald R. Shirley sold 8,000 shares of the firm’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $240.20, for a total value of $1,921,600.00. Following the completion of the transaction, the senior vice president now directly owns 15,725 shares in the company, valued at $3,777,145. This trade represents a 33.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 31,000 shares of company stock worth $7,500,905 in the last three months. 1.60% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

PKG has been the subject of several analyst reports. StockNews.com downgraded shares of Packaging Co. of America from a “buy” rating to a “hold” rating in a research note on Wednesday, November 20th. Wells Fargo & Company raised their target price on shares of Packaging Co. of America from $235.00 to $253.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th. Citigroup lifted their target price on shares of Packaging Co. of America from $199.00 to $221.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 2nd. Finally, Truist Financial reissued a “buy” rating and set a $252.00 price target (up previously from $242.00) on shares of Packaging Co. of America in a research note on Thursday, October 24th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $221.60.

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.