Captrust Financial Advisors Increases Stock Position in Packaging Co. of America (NYSE:PKG)

Captrust Financial Advisors raised its stake in shares of Packaging Co. of America (NYSE:PKG) by 1.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 19,631 shares of the industrial products company’s stock after acquiring an additional 227 shares during the quarter. Captrust Financial Advisors’ holdings in Packaging Co. of America were worth $4,229,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. boosted its stake in Packaging Co. of America by 3.5% during 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 acquiring an additional 98,223 shares during the last quarter. Victory Capital Management Inc. boosted its stake in Packaging Co. of America by 1.5% during the 2nd quarter. Victory Capital Management Inc. now owns 2,853,417 shares of the industrial products company’s stock valued at $520,920,000 after acquiring an additional 41,903 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in 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. FMR LLC boosted its stake in Packaging Co. of America by 3.4% during 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 during the last quarter. Finally, Millennium Management LLC boosted its stake in 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 valued at $187,596,000 after acquiring an additional 262,315 shares during the last quarter. 89.78% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Truist Financial reiterated a “buy” rating and set a $252.00 price objective (up from $242.00) on shares of Packaging Co. of America in a research note on Thursday, October 24th. Citigroup raised 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. Wells Fargo & Company raised their price target 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. Finally, StockNews.com upgraded shares of Packaging Co. of America from a “hold” rating to a “buy” rating in a research report on Tuesday. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $221.60.

Packaging Co. of America Stock Down 0.3 %

PKG stock opened at $244.14 on Wednesday. The company has a quick ratio of 1.98, a current ratio of 2.95 and a debt-to-equity ratio of 0.58. Packaging Co. of America has a fifty-two week low of $159.57 and a fifty-two week high of $250.82. The firm’s 50-day simple moving average is $228.82 and its 200 day simple moving average is $205.39. The stock has a market cap of $21.93 billion, a PE ratio of 28.45, a price-to-earnings-growth ratio of 3.44 and a beta of 0.77.

Packaging Co. of America (NYSE:PKG) last released its quarterly earnings data 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. Packaging Co. of America had a net margin of 9.46% and a return on equity of 19.10%. The business had revenue of $2.18 billion for the quarter, compared to analysts’ expectations of $2.09 billion. During the same quarter last year, the company earned $2.05 EPS. The company’s revenue for the quarter was up 14.9% compared to the same quarter last year. As a group, sell-side analysts predict that Packaging Co. of America will post 9.07 EPS for the current year.

Insider Buying and Selling

In other Packaging Co. of America news, CFO Robert P. Mundy sold 12,500 shares of the firm’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $240.62, for a total transaction of $3,007,750.00. Following the transaction, the chief financial officer now owns 43,954 shares of the company’s stock, valued at approximately $10,576,211.48. This trade represents a 22.14 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Paul T. Stecko sold 10,500 shares of the firm’s stock in a transaction dated 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 transaction, the director now directly owns 8,881 shares in the company, valued at approximately $2,175,045.71. The trade was 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 valued at $7,500,905 in the last quarter. Company 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.