Brooklyn Investment Group Invests $64,000 in Packaging Co. of America (NYSE:PKG)

Brooklyn Investment Group bought a new position in shares of Packaging Co. of America (NYSE:PKG) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 297 shares of the industrial products company’s stock, valued at approximately $64,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Central Pacific Bank Trust Division acquired a new stake in Packaging Co. of America in the third quarter valued at approximately $32,000. Larson Financial Group LLC raised its holdings in shares of Packaging Co. of America by 234.7% during the third quarter. Larson Financial Group LLC now owns 164 shares of the industrial products company’s stock worth $35,000 after purchasing an additional 115 shares during the last quarter. Asset Dedication LLC raised its holdings in shares of Packaging Co. of America by 200.0% during the second quarter. Asset Dedication LLC now owns 168 shares of the industrial products company’s stock worth $31,000 after purchasing an additional 112 shares during the last quarter. Tortoise Investment Management LLC purchased a new position in Packaging Co. of America in the second quarter valued at $33,000. Finally, Assetmark Inc. increased its holdings in Packaging Co. of America by 44.6% in the third quarter. Assetmark Inc. now owns 269 shares of the industrial products company’s stock valued at $58,000 after buying an additional 83 shares in the last quarter. 89.78% of the stock is currently owned by institutional investors.

Packaging Co. of America Trading Down 0.4 %

Shares of Packaging Co. of America stock opened at $247.03 on Friday. The company has a fifty day simple moving average of $226.87 and a 200-day simple moving average of $203.86. Packaging Co. of America has a 12-month low of $156.87 and a 12-month high of $250.82. The company has a current ratio of 2.95, a quick ratio of 1.98 and a debt-to-equity ratio of 0.58. The stock has a market cap of $22.18 billion, a price-to-earnings ratio of 28.79, a PEG 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 for the quarter, topping 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%. Packaging Co. of America’s quarterly revenue was up 14.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.05 EPS. On average, equities analysts forecast that Packaging Co. of America will post 9.07 EPS for the current fiscal year.

Analyst Ratings Changes

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

Insider Buying and Selling

In other news, 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 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Donald R. Shirley sold 8,000 shares of the firm’s stock in a transaction 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 owns 15,725 shares of the company’s stock, valued at $3,777,145. This trade represents a 33.72 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 31,000 shares of company stock worth $7,500,905 in the last 90 days. Company insiders own 1.60% of the company’s stock.

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.