Pitcairn Co. Has $634,000 Holdings in Packaging Co. of America (NYSE:PKG)

Pitcairn Co. decreased its holdings in shares of Packaging Co. of America (NYSE:PKG) by 9.9% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 2,944 shares of the industrial products company’s stock after selling 323 shares during the period. Pitcairn Co.’s holdings in Packaging Co. of America were worth $634,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of PKG. Summit Financial Strategies Inc. grew 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 worth $42,809,000 after acquiring an additional 12,129 shares during the period. DekaBank Deutsche Girozentrale grew its stake in shares of 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 purchasing an additional 14,277 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its holdings in Packaging Co. of America by 227.5% in the third 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 purchasing an additional 22,397 shares during the last quarter. M&G Plc acquired a new position in Packaging Co. of America in the second quarter valued at about $840,000. Finally, Dai ichi Life Insurance Company Ltd boosted its holdings 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 during the last quarter. Institutional investors and hedge funds own 89.78% of the company’s stock.

Packaging Co. of America Stock Performance

Shares of PKG opened at $247.36 on Tuesday. The firm has a market cap of $22.22 billion, a P/E ratio of 28.83, a PEG ratio of 3.46 and a beta of 0.76. Packaging Co. of America has a twelve month low of $153.58 and a twelve month high of $250.82. 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’s 50 day moving average price is $225.48 and its two-hundred day moving average price is $203.08.

Packaging Co. of America (NYSE:PKG) last posted its quarterly earnings data on Tuesday, October 22nd. The industrial products company reported $2.65 EPS for the quarter, beating the consensus estimate of $2.50 by $0.15. The business had revenue of $2.18 billion for 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 firm’s revenue was up 14.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.05 EPS. On average, analysts forecast that Packaging Co. of America will post 9.07 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

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

Insider Activity

In other news, SVP Donald R. Shirley sold 8,000 shares of the business’s stock in a transaction on 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 sale, the senior vice president now owns 15,725 shares of the company’s stock, valued at $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 SEC, which can be accessed through the SEC website. Also, Director Paul T. Stecko sold 10,500 shares of the firm’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 transaction, the director now directly owns 8,881 shares of the company’s stock, valued at approximately $2,175,045.71. This trade represents a 54.18 % decrease in their position. 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 over the last three months. Corporate insiders own 1.70% of the company’s stock.

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.