Mn Services Vermogensbeheer B.V. Sells 1,100 Shares of Packaging Co. of America (NYSE:PKG)

Mn Services Vermogensbeheer B.V. lessened its position in Packaging Co. of America (NYSE:PKG) by 3.0% during the second quarter, Holdings Channel reports. The institutional investor owned 35,200 shares of the industrial products company’s stock after selling 1,100 shares during the quarter. Mn Services Vermogensbeheer B.V.’s holdings in Packaging Co. of America were worth $6,426,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the company. Banque Pictet & Cie SA raised its holdings in shares of Packaging Co. of America by 8.9% in the second quarter. Banque Pictet & Cie SA now owns 54,535 shares of the industrial products company’s stock valued at $9,956,000 after purchasing an additional 4,457 shares during the last quarter. American National Bank lifted its position in Packaging Co. of America by 116.4% during the 2nd quarter. American National Bank now owns 606 shares of the industrial products company’s stock worth $111,000 after buying an additional 326 shares in the last quarter. NewSquare Capital LLC boosted its stake in shares of Packaging Co. of America by 4.2% during the 2nd quarter. NewSquare Capital LLC now owns 53,636 shares of the industrial products company’s stock worth $9,665,000 after buying an additional 2,186 shares during the last quarter. Benchmark Financial Wealth Advisors LLC grew its holdings in shares of Packaging Co. of America by 30.5% in the 2nd quarter. Benchmark Financial Wealth Advisors LLC now owns 1,672 shares of the industrial products company’s stock valued at $305,000 after acquiring an additional 391 shares in the last quarter. Finally, Financial Advisory Partners LLC bought a new position in shares of Packaging Co. of America in the 2nd quarter valued at about $2,232,000. Institutional investors own 89.78% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on PKG. Truist Financial increased their price target on Packaging Co. of America from $215.00 to $219.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. Citigroup increased their price objective on Packaging Co. of America from $181.00 to $187.00 and gave the company a “neutral” rating in a report on Monday, July 8th. Wells Fargo & Company boosted their target price on shares of Packaging Co. of America from $194.00 to $215.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. StockNews.com upgraded shares of Packaging Co. of America from a “hold” rating to a “buy” rating in a research note on Tuesday, August 20th. Finally, Bank of America boosted their price objective on shares of Packaging Co. of America from $197.00 to $200.00 and gave the stock a “buy” rating in a research note on Monday, June 17th. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $190.50.

Packaging Co. of America Stock Performance

PKG stock traded up $2.02 during midday trading on Friday, reaching $203.81. 318,937 shares of the company were exchanged, compared to its average volume of 620,178. Packaging Co. of America has a one year low of $143.82 and a one year high of $204.58. The firm has a market capitalization of $18.30 billion, a price-to-earnings ratio of 25.48, a price-to-earnings-growth ratio of 5.08 and a beta of 0.77. The business has a 50-day moving average price of $190.32 and a two-hundred day moving average price of $183.77. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.43 and a quick ratio of 1.71.

Packaging Co. of America (NYSE:PKG) last announced its earnings results on Tuesday, July 23rd. The industrial products company reported $2.20 EPS for the quarter, topping the consensus estimate of $2.14 by $0.06. The business had revenue of $2.08 billion during the quarter, compared to the consensus estimate of $2.02 billion. Packaging Co. of America had a net margin of 9.06% and a return on equity of 18.21%. Packaging Co. of America’s revenue was up 6.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.31 EPS. Equities research analysts forecast that Packaging Co. of America will post 8.71 EPS for the current year.

Insider Activity

In related news, EVP Charles J. Carter sold 5,389 shares of Packaging Co. of America stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $196.28, for a total transaction of $1,057,752.92. Following the completion of the sale, the executive vice president now directly owns 25,539 shares of the company’s stock, valued at approximately $5,012,794.92. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, EVP Charles J. Carter sold 5,389 shares of the company’s stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $196.28, for a total value of $1,057,752.92. Following the transaction, the executive vice president now directly owns 25,539 shares in the company, valued at $5,012,794.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Donald R. Shirley sold 6,000 shares of Packaging Co. of America stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $196.28, for a total transaction of $1,177,680.00. Following the completion of the sale, the senior vice president now owns 20,772 shares of the company’s stock, valued at approximately $4,077,128.16. The disclosure for this sale can be found here. 1.60% of the stock is owned by company insiders.

Packaging Co. of America 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.