Packaging Co. of America (NYSE:PKG) Shares Bought by National Bank of Canada FI

National Bank of Canada FI grew its holdings in shares of Packaging Co. of America (NYSE:PKG - Free Report) by 205.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 81,370 shares of the industrial products company's stock after purchasing an additional 54,765 shares during the period. National Bank of Canada FI owned approximately 0.09% of Packaging Co. of America worth $17,527,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Summit Financial Strategies Inc. grew its holdings in shares of 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 acquiring an additional 12,129 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its position in shares of Packaging Co. of America by 227.5% in the third 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 buying an additional 22,397 shares in the last quarter. M&G Plc acquired a new position in shares of Packaging Co. of America during the 2nd quarter worth $840,000. Dai ichi Life Insurance Company Ltd boosted its position in shares of Packaging Co. of America by 10.5% in 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 buying an additional 3,355 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its stake in Packaging Co. of America by 22.7% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 33,401 shares of the industrial products company's stock valued at $6,098,000 after acquiring an additional 6,184 shares during the last quarter. 89.78% of the stock is owned by institutional investors and hedge funds.

Packaging Co. of America Trading Down 0.6 %

NYSE PKG traded down $1.40 during trading hours on Tuesday, hitting $238.23. 464,580 shares of the company's stock were exchanged, compared to its average volume of 601,644. The business's 50 day moving average is $231.61 and its 200-day moving average is $207.55. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.98 and a current ratio of 2.95. Packaging Co. of America has a 12-month low of $159.57 and a 12-month high of $250.82. The firm has a market capitalization of $21.39 billion, a P/E ratio of 27.94, a price-to-earnings-growth ratio of 3.41 and a beta of 0.77.

Packaging Co. of America (NYSE:PKG - Get Free Report) last announced 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 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 analyst estimates of $2.09 billion. During the same period in the prior year, the firm posted $2.05 EPS. The company's revenue was up 14.9% on a year-over-year basis. As a group, analysts anticipate that Packaging Co. of America will post 9.07 EPS for the current fiscal year.

Packaging Co. of America Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Friday, December 20th will be issued a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.10%. Packaging Co. of America's dividend payout ratio (DPR) is presently 58.28%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. Wells Fargo & Company lifted 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 research report on Thursday, October 24th. StockNews.com upgraded Packaging Co. of America from a "hold" rating to a "buy" rating in a research report on Tuesday, December 3rd. Citigroup upped their target price on 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. Finally, Truist Financial reissued a "buy" rating and set a $252.00 price target (up previously from $242.00) on shares of Packaging Co. of America in a research report on Thursday, October 24th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $221.60.

Insider Activity

In other Packaging Co. of America news, SVP Donald R. Shirley sold 8,000 shares of Packaging Co. of America 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 transaction, the senior vice president now directly owns 15,725 shares of the company's stock, valued at $3,777,145. The trade was a 33.72 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Joseph Vaughn sold 2,300 shares of the business'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 sale, 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 ninety days. Company insiders own 1.60% of the company's stock.

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.