Packaging Co. of America (NYSE:PKG) Shares Acquired by Caisse DE Depot ET Placement DU Quebec

Caisse DE Depot ET Placement DU Quebec boosted its holdings in shares of Packaging Co. of America (NYSE:PKG) by 119.5% in the 3rd quarter, Holdings Channel reports. The fund owned 50,758 shares of the industrial products company’s stock after acquiring an additional 27,637 shares during the quarter. Caisse DE Depot ET Placement DU Quebec’s holdings in Packaging Co. of America were worth $10,933,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Asset Dedication LLC increased its holdings in shares of Packaging Co. of America by 200.0% in the second quarter. Asset Dedication LLC now owns 168 shares of the industrial products company’s stock valued at $31,000 after purchasing an additional 112 shares during the last quarter. Central Pacific Bank Trust Division purchased a new position in shares of Packaging Co. of America during the 3rd quarter worth $32,000. Tortoise Investment Management LLC acquired a new position in shares of Packaging Co. of America during the 2nd quarter valued at about $33,000. Larson Financial Group LLC grew its holdings in shares of Packaging Co. of America by 234.7% in the third quarter. Larson Financial Group LLC now owns 164 shares of the industrial products company’s stock valued at $35,000 after purchasing an additional 115 shares during the period. Finally, Strategic Financial Concepts LLC acquired a new stake in Packaging Co. of America during the second quarter worth about $50,000. Institutional investors and hedge funds own 89.78% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on PKG shares. Truist Financial reissued a “buy” rating and issued 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. Citigroup raised their target price on 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. Wells Fargo & Company raised their price objective on 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. Finally, StockNews.com cut shares of Packaging Co. of America from a “buy” rating to a “hold” rating in a research report on Wednesday, November 20th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $221.60.

Insider Activity

In other news, Director Paul T. Stecko sold 10,500 shares of the business’s stock in a transaction dated 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 transaction, the director now directly owns 8,881 shares of the company’s stock, valued at approximately $2,175,045.71. The trade was a 54.18 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Donald R. Shirley sold 8,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 12th. The shares were 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. This trade represents a 33.72 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 31,000 shares of company stock worth $7,500,905. Corporate insiders own 1.60% of the company’s stock.

Packaging Co. of America Stock Performance

Shares of Packaging Co. of America stock opened at $244.89 on Tuesday. The stock has a market capitalization of $21.99 billion, a price-to-earnings ratio of 28.54, a price-to-earnings-growth ratio of 3.49 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. The business has a 50-day moving average of $228.21 and a 200 day moving average of $204.95. Packaging Co. of America has a 12 month low of $159.57 and a 12 month high of $250.82.

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, beating analysts’ consensus estimates 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 net margin of 9.46% and a return on equity of 19.10%. The business’s quarterly revenue was up 14.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.05 earnings per share. As a group, sell-side analysts forecast that Packaging Co. of America will post 9.07 earnings per share for the current year.

Packaging Co. of America Company 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.