BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Sells 2,183 Shares of Packaging Co. of America (NYSE:PKG)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp reduced its stake in shares of Packaging Co. of America (NYSE:PKG - Free Report) by 12.7% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 14,982 shares of the industrial products company's stock after selling 2,183 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp's holdings in Packaging Co. of America were worth $3,227,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Cetera Investment Advisers boosted its holdings in Packaging Co. of America by 981.4% in the first quarter. Cetera Investment Advisers now owns 19,109 shares of the industrial products company's stock worth $3,626,000 after purchasing an additional 17,342 shares in the last quarter. Cetera Advisors LLC raised its position in Packaging Co. of America by 33.0% in the first quarter. Cetera Advisors LLC now owns 2,535 shares of the industrial products company's stock worth $481,000 after purchasing an additional 629 shares in the last quarter. GAMMA Investing LLC raised its position in Packaging Co. of America by 42.3% in the second quarter. GAMMA Investing LLC now owns 1,208 shares of the industrial products company's stock worth $221,000 after purchasing an additional 359 shares in the last quarter. DNB Asset Management AS increased its holdings in shares of Packaging Co. of America by 11.3% during the second quarter. DNB Asset Management AS now owns 16,247 shares of the industrial products company's stock worth $2,966,000 after buying an additional 1,652 shares in the last quarter. Finally, Mather Group LLC. increased its holdings in shares of Packaging Co. of America by 7.5% during the second quarter. Mather Group LLC. now owns 2,421 shares of the industrial products company's stock worth $459,000 after buying an additional 169 shares in the last quarter. 89.78% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Packaging Co. of America

In other news, CFO Robert P. Mundy sold 12,500 shares of the business's stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $240.62, for a total value of $3,007,750.00. Following the completion of the transaction, the chief financial officer now directly owns 43,954 shares in the company, valued at approximately $10,576,211.48. The trade was a 22.14 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Joseph Vaughn sold 2,300 shares of the company's stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $244.89, for a total transaction of $563,247.00. Following the transaction, the senior vice president now owns 9,197 shares of the company's stock, valued at approximately $2,252,253.33. This represents a 20.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 33,300 shares of company stock valued at $8,064,152 in the last quarter. Company insiders own 1.70% of the company's stock.

Packaging Co. of America Stock Performance

Shares of PKG traded down $0.06 during midday trading on Wednesday, reaching $243.99. The stock had a trading volume of 457,343 shares, compared to its average volume of 600,084. The firm has a 50 day simple moving average of $229.40 and a 200-day simple moving average of $205.82. Packaging Co. of America has a one year low of $159.57 and a one year high of $250.82. The firm has a market cap of $21.91 billion, a PE ratio of 28.25, a P/E/G ratio of 3.44 and a beta of 0.77. The company has a current ratio of 2.95, a quick ratio of 1.98 and a debt-to-equity ratio of 0.58.

Packaging Co. of America (NYSE:PKG - Get Free Report) last announced its earnings results on Tuesday, October 22nd. The industrial products company reported $2.65 EPS for the quarter, topping the consensus estimate of $2.50 by $0.15. The business had revenue of $2.18 billion during the quarter, compared to the consensus estimate 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 revenue was up 14.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.05 EPS. As a group, sell-side analysts anticipate that Packaging Co. of America will post 9.07 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts have recently commented on PKG shares. Citigroup increased 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. Wells Fargo & Company increased their target price on shares of Packaging Co. of America from $235.00 to $253.00 and gave the stock an "overweight" rating in a report on Thursday, October 24th. StockNews.com upgraded shares of Packaging Co. of America from a "hold" rating to a "buy" rating in a report on Tuesday. Finally, Truist Financial restated a "buy" rating and set a $252.00 price objective (up from $242.00) on shares of Packaging Co. of America in a report on Thursday, October 24th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat.com, Packaging Co. of America currently has a consensus rating of "Moderate Buy" and a consensus price target of $221.60.

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.