4,590 Shares in Packaging Co. of America (NYSE:PKG) Acquired by M&G Plc

M&G Plc bought a new position in Packaging Co. of America (NYSE:PKG) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 4,590 shares of the industrial products company’s stock, valued at approximately $840,000.

Several other institutional investors and hedge funds also recently made changes to their positions in PKG. Register Financial Advisors LLC acquired a new stake in shares of Packaging Co. of America during the first quarter worth $25,000. Neo Ivy Capital Management acquired a new stake in shares of Packaging Co. of America in the 4th quarter valued at about $28,000. First Horizon Advisors Inc. lifted its holdings in shares of Packaging Co. of America by 60.5% in the fourth quarter. First Horizon Advisors Inc. now owns 183 shares of the industrial products company’s stock valued at $30,000 after purchasing an additional 69 shares in the last quarter. Gables Capital Management Inc. acquired a new position in shares of Packaging Co. of America during the fourth quarter worth about $31,000. Finally, Headlands Technologies LLC bought a new position in shares of Packaging Co. of America during the first quarter worth about $43,000. Institutional investors and hedge funds own 89.78% of the company’s stock.

Packaging Co. of America Trading Up 0.5 %

Shares of NYSE:PKG opened at $194.38 on Wednesday. The stock has a market cap of $17.45 billion, a PE ratio of 24.30, a P/E/G ratio of 5.14 and a beta of 0.77. The company has a quick ratio of 1.74, a current ratio of 2.46 and a debt-to-equity ratio of 0.62. Packaging Co. of America has a 12-month low of $143.82 and a 12-month high of $201.99. The business has a 50 day moving average of $187.99 and a 200-day moving average of $182.02.

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. Packaging Co. of America had a net margin of 9.06% and a return on equity of 18.39%. The company had revenue of $2.08 billion for the quarter, compared to analysts’ expectations of $2.02 billion. During the same period last year, the firm earned $2.31 earnings per share. The business’s revenue for the quarter was up 6.3% on a year-over-year basis. As a group, equities research analysts forecast that Packaging Co. of America will post 8.62 earnings per share for the current year.

Insider Activity at Packaging Co. of America

In other news, EVP Charles J. Carter sold 5,389 shares of the company’s stock in a transaction that occurred on Thursday, July 25th. The shares were 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 owns 25,539 shares of the company’s stock, valued at approximately $5,012,794.92. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, EVP Charles J. Carter sold 5,389 shares of the firm’s stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $196.28, for a total value of $1,057,752.92. Following the sale, the executive vice president now directly owns 25,539 shares of the company’s stock, valued at $5,012,794.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Donald R. Shirley sold 6,000 shares of the 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 transaction, the senior vice president now directly 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 insiders.

Analyst Ratings Changes

A number of research firms recently issued reports on PKG. Wells Fargo & Company lifted their target price on Packaging Co. of America from $194.00 to $215.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. Bank of America upped their price objective on 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. StockNews.com downgraded shares of Packaging Co. of America from a “buy” rating to a “hold” rating in a report on Monday. Truist Financial lifted their price objective on shares of 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. Finally, Citigroup lifted their price target on Packaging Co. of America from $181.00 to $187.00 and gave the stock a “neutral” rating in a report on Monday, July 8th. Five research 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, the stock currently has a consensus rating of “Hold” and an average price target of $190.50.

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.