Northwest & Ethical Investments L.P. Reduces Position in Packaging Co. of America (NYSE:PKG)

Northwest & Ethical Investments L.P. reduced its position in shares of Packaging Co. of America (NYSE:PKG) by 32.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. 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. owned about 0.05% of Packaging Co. of America worth $9,716,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Boston Partners lifted its holdings in 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 buying an additional 477,487 shares during the last quarter. Millennium Management LLC raised its position 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 worth $187,596,000 after acquiring an additional 262,315 shares in the last quarter. AQR Capital Management LLC lifted its stake in Packaging Co. of America by 164.3% during the second quarter. AQR Capital Management LLC now owns 401,360 shares of the industrial products company’s stock worth $73,272,000 after purchasing an additional 249,483 shares during the last quarter. International Assets Investment Management LLC boosted its holdings in Packaging Co. of America by 41,151.7% in the third quarter. International Assets Investment Management LLC now owns 155,519 shares of the industrial products company’s stock valued at $33,499,000 after purchasing an additional 155,142 shares in the last quarter. Finally, Mizuho Securities USA LLC boosted its holdings in Packaging Co. of America by 1,800.2% in the third quarter. Mizuho Securities USA LLC now owns 130,583 shares of the industrial products company’s stock valued at $28,128,000 after purchasing an additional 123,711 shares in the last quarter. Institutional investors and hedge funds own 89.78% of the company’s stock.

Packaging Co. of America Trading Down 0.4 %

NYSE PKG opened at $247.03 on Friday. The firm’s fifty day moving average is $226.87 and its two-hundred day moving average is $203.86. Packaging Co. of America has a one year low of $156.87 and a one year 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 has a market cap of $22.19 billion, a PE ratio of 28.79, a P/E/G ratio of 3.47 and a beta of 0.76.

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 (EPS) for the quarter, beating the consensus estimate 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 firm had revenue of $2.18 billion for the quarter, compared to analysts’ expectations of $2.09 billion. During the same quarter in the previous year, the firm posted $2.05 EPS. The firm’s revenue for the quarter was up 14.9% on a year-over-year basis. Analysts expect that Packaging Co. of America will post 9.07 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Wells Fargo & Company boosted their price objective 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. Truist Financial reissued a “buy” rating and issued a $252.00 price target (up from $242.00) on shares of Packaging Co. of America in a research report on Thursday, October 24th. Citigroup raised their price objective on Packaging Co. of America from $199.00 to $221.00 and gave the stock a “neutral” rating in a report on Wednesday, October 2nd. Finally, StockNews.com downgraded Packaging Co. of America from a “buy” rating to a “hold” rating in a report on Wednesday, November 20th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $221.60.

Insider Buying and Selling

In related news, SVP Donald R. Shirley sold 8,000 shares of the stock in a transaction dated 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 transaction, the senior vice president now directly owns 15,725 shares of the company’s stock, valued at $3,777,145. This represents a 33.72 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Paul T. Stecko sold 10,500 shares of Packaging Co. of America stock in a transaction that occurred on Thursday, November 21st. The shares were 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 directly owns 8,881 shares in the company, valued at $2,175,045.71. This represents a 54.18 % decrease in their position. The disclosure for this sale can be found here. Insiders 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 currently owned by company insiders.

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.