Blueshift Asset Management LLC Has $532,000 Position in Packaging Co. of America (NYSE:PKG)

Blueshift Asset Management LLC cut its holdings in Packaging Co. of America (NYSE:PKG) by 9.5% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. 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 quarter.

Several other large investors also recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. lifted its stake in shares of Packaging Co. of America by 3.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,937,113 shares of the industrial products company’s stock valued at $632,654,000 after purchasing an additional 98,223 shares during the last quarter. Victory Capital Management Inc. lifted its position in shares of 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 worth $520,920,000 after buying an additional 41,903 shares during the last quarter. Boston Partners boosted its stake in shares of Packaging Co. of America by 49.3% during the 1st quarter. Boston Partners now owns 1,446,303 shares of the industrial products company’s stock worth $274,421,000 after acquiring an additional 477,487 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of 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 valued at $210,636,000 after acquiring an additional 86,005 shares during the last quarter. Finally, FMR LLC raised its stake in shares of Packaging Co. of America by 3.4% in the 3rd quarter. FMR LLC now owns 1,076,350 shares of the industrial products company’s stock valued at $231,846,000 after acquiring an additional 35,827 shares in the last quarter. 89.78% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

PKG has been the subject of a number of recent analyst reports. StockNews.com cut Packaging Co. of America from a “buy” rating to a “hold” rating in a research report on Wednesday, November 20th. Truist Financial restated a “buy” rating and issued a $252.00 price objective (up from $242.00) on shares of Packaging Co. of America in a research note on Thursday, October 24th. Wells Fargo & Company raised their target price on shares of 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. Finally, Citigroup boosted 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 report on Wednesday, October 2nd. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $221.60.

Insider Buying and Selling

In other Packaging Co. of America news, Director Paul T. Stecko sold 10,500 shares of the firm’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $244.91, for a total value of $2,571,555.00. Following the completion of the sale, the director now owns 8,881 shares in the company, valued at approximately $2,175,045.71. This trade represents a 54.18 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Donald R. Shirley sold 8,000 shares of the business’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 value of $1,921,600.00. Following the sale, the senior vice president now owns 15,725 shares in the company, valued at approximately $3,777,145. This 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 valued at $7,500,905 over the last three months. 1.60% of the stock is owned by corporate insiders.

Packaging Co. of America Stock Down 0.4 %

PKG opened at $247.03 on Thursday. The business has a 50 day moving average of $226.17 and a 200-day moving average of $203.56. The stock has a market capitalization of $22.18 billion, a price-to-earnings ratio of 28.79, a P/E/G ratio of 3.47 and a beta of 0.76. The company has a current ratio of 2.95, a quick ratio of 1.98 and a debt-to-equity ratio of 0.58. Packaging Co. of America has a 1-year low of $156.87 and a 1-year high of $250.82.

Packaging Co. of America (NYSE:PKG) last issued its quarterly earnings results 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. Packaging Co. of America had a net margin of 9.46% and a return on equity of 19.10%. The firm 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 earned $2.05 EPS. The business’s revenue was up 14.9% on a year-over-year basis. As a group, sell-side analysts anticipate that Packaging Co. of America will post 9.07 earnings per share for the current year.

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.