Packaging Co. of America (NYSE:PKG) Shares Purchased by Bank of Montreal Can

Bank of Montreal Can increased its holdings in Packaging Co. of America (NYSE:PKG) by 19.0% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 101,641 shares of the industrial products company’s stock after buying an additional 16,219 shares during the period. Bank of Montreal Can’s holdings in Packaging Co. of America were worth $21,924,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. increased its stake in shares of Packaging Co. of America by 3.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,937,113 shares of the industrial products company’s stock worth $632,654,000 after acquiring an additional 98,223 shares during the period. Victory Capital Management Inc. boosted its holdings in Packaging Co. of America by 1.5% in the second quarter. Victory Capital Management Inc. now owns 2,853,417 shares of the industrial products company’s stock valued at $520,920,000 after purchasing an additional 41,903 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Packaging Co. of America by 8.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,153,732 shares of the industrial products company’s stock worth $210,636,000 after purchasing an additional 86,005 shares during the period. Millennium Management LLC raised its stake in shares of Packaging Co. of America by 34.3% during the 2nd quarter. Millennium Management LLC now owns 1,027,585 shares of the industrial products company’s stock valued at $187,596,000 after buying an additional 262,315 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its holdings in shares of Packaging Co. of America by 8.4% in the 3rd quarter. Principal Financial Group Inc. now owns 460,518 shares of the industrial products company’s stock valued at $99,194,000 after buying an additional 35,614 shares during the period. 89.78% of the stock is owned by hedge funds and other institutional investors.

Packaging Co. of America Trading Up 0.7 %

Shares of NYSE:PKG opened at $248.66 on Friday. The business’s 50 day moving average price is $227.50 and its 200-day moving average price is $204.16. Packaging Co. of America has a 1 year low of $159.57 and a 1 year high of $250.82. The firm has a market capitalization of $22.33 billion, a price-to-earnings ratio of 28.98, a price-to-earnings-growth ratio of 3.47 and a beta of 0.76. 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 (NYSE:PKG) last posted its quarterly earnings data on Tuesday, October 22nd. The industrial products company reported $2.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.50 by $0.15. Packaging Co. of America had a net margin of 9.46% and a return on equity of 19.10%. The business had revenue of $2.18 billion for the quarter, compared to the consensus estimate of $2.09 billion. During the same period last year, the firm posted $2.05 earnings per share. The company’s revenue was up 14.9% compared to the same quarter last year. On average, equities research analysts forecast that Packaging Co. of America will post 9.07 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. StockNews.com lowered Packaging Co. of America from a “buy” rating to a “hold” rating in a report on Wednesday, November 20th. Truist Financial reaffirmed a “buy” rating and set a $252.00 target price (up from $242.00) on shares of Packaging Co. of America in a report on Thursday, October 24th. Wells Fargo & Company increased their price target 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. Finally, Citigroup lifted their price objective on shares of Packaging Co. of America from $199.00 to $221.00 and gave the company a “neutral” rating in a report on Wednesday, October 2nd. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, Packaging Co. of America has an average rating of “Hold” and a consensus price target of $221.60.

Insider Activity at Packaging Co. of America

In related news, SVP Donald R. Shirley sold 8,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $240.20, for a total transaction of $1,921,600.00. Following the completion of the sale, the senior vice president now directly owns 15,725 shares in the company, valued at approximately $3,777,145. The trade was a 33.72 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Robert P. Mundy sold 12,500 shares of the firm’s stock in a transaction on 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 transaction, the chief financial officer now owns 43,954 shares in the company, valued at $10,576,211.48. The trade was a 22.14 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 31,000 shares of company stock valued at $7,500,905. 1.60% of the stock is owned by corporate insiders.

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.