Packaging Co. of America (NYSE:PKG) Shares Bought by Loomis Sayles & Co. L P

Loomis Sayles & Co. L P raised its stake in shares of Packaging Co. of America (NYSE:PKG - Free Report) by 7.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 81,869 shares of the industrial products company's stock after purchasing an additional 5,361 shares during the period. Loomis Sayles & Co. L P owned 0.09% of Packaging Co. of America worth $17,634,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of PKG. Summit Financial Strategies Inc. boosted its holdings in Packaging Co. of America by 5.5% in the 2nd quarter. Summit Financial Strategies Inc. now owns 234,495 shares of the industrial products company's stock worth $42,809,000 after buying an additional 12,129 shares during the last quarter. DekaBank Deutsche Girozentrale boosted its stake in shares of Packaging Co. of America by 6.8% in the first quarter. DekaBank Deutsche Girozentrale now owns 224,273 shares of the industrial products company's stock worth $41,839,000 after acquiring an additional 14,277 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its stake in Packaging Co. of America by 227.5% in the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 32,243 shares of the industrial products company's stock valued at $6,945,000 after purchasing an additional 22,397 shares during the last quarter. M&G Plc purchased a new position in Packaging Co. of America in the 2nd quarter valued at $840,000. Finally, Dai ichi Life Insurance Company Ltd boosted its stake in Packaging Co. of America by 10.5% during the 2nd quarter. Dai ichi Life Insurance Company Ltd now owns 35,193 shares of the industrial products company's stock worth $6,425,000 after purchasing an additional 3,355 shares during the last quarter. Institutional investors and hedge funds own 89.78% of the company's stock.

Packaging Co. of America Stock Performance

Packaging Co. of America stock opened at $248.11 on Wednesday. The firm has a 50 day simple moving average of $225.48 and a 200-day simple moving average of $203.08. The stock has a market cap of $22.28 billion, a price-to-earnings ratio of 28.92, a price-to-earnings-growth ratio of 3.47 and a beta of 0.76. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.95 and a quick ratio of 1.98. Packaging Co. of America has a 1-year low of $153.58 and a 1-year high of $250.82.

Packaging Co. of America (NYSE:PKG - Get Free Report) last issued its quarterly earnings data on Tuesday, October 22nd. The industrial products company reported $2.65 earnings per share for the quarter, topping the consensus estimate of $2.50 by $0.15. Packaging Co. of America had a return on equity of 19.10% and a net margin of 9.46%. The company had revenue of $2.18 billion during the quarter, compared to analyst estimates of $2.09 billion. During the same period in the prior year, the business posted $2.05 earnings per share. The firm's revenue for the quarter was up 14.9% compared to the same quarter last year. On average, analysts expect that Packaging Co. of America will post 9.07 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on PKG shares. Truist Financial reiterated a "buy" rating and issued a $252.00 target price (up from $242.00) on shares of Packaging Co. of America in a research report on Thursday, October 24th. Citigroup increased their price objective on shares of Packaging Co. of America from $199.00 to $221.00 and gave the company a "neutral" rating in a report on Wednesday, October 2nd. StockNews.com cut Packaging Co. of America from a "buy" rating to a "hold" rating in a report on Wednesday, November 20th. Finally, Wells Fargo & Company lifted their price objective on 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. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $221.60.

Insider Buying and Selling

In related news, SVP Donald R. Shirley sold 8,000 shares of the stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $240.20, for a total transaction of $1,921,600.00. Following the completion of the transaction, the senior vice president now owns 15,725 shares of the company's stock, valued at approximately $3,777,145. This trade represents a 33.72 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, 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 sale, 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 disclosure for this sale can be found here. In the last ninety days, insiders sold 31,000 shares of company stock valued at $7,500,905. 1.70% of the stock is currently owned by insiders.

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.