Caisse DE Depot ET Placement DU Quebec Buys 27,637 Shares of Packaging Co. of America (NYSE:PKG)

Caisse DE Depot ET Placement DU Quebec boosted its holdings in shares of Packaging Co. of America (NYSE:PKG - Free Report) by 119.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 50,758 shares of the industrial products company's stock after purchasing an additional 27,637 shares during the period. Caisse DE Depot ET Placement DU Quebec owned approximately 0.06% of Packaging Co. of America worth $10,933,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in PKG. Summit Financial Strategies Inc. boosted its stake in shares of Packaging Co. of America by 5.5% during 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 in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased 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 worth $6,945,000 after purchasing an additional 22,397 shares in the last quarter. M&G Plc acquired a new stake in Packaging Co. of America during the 2nd quarter worth about $840,000. Dai ichi Life Insurance Company Ltd boosted its holdings in shares of Packaging Co. of America by 10.5% in the second 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 during the period. Finally, Wealth Enhancement Advisory Services LLC increased its position in shares of Packaging Co. of America by 22.7% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 33,401 shares of the industrial products company's stock worth $6,098,000 after acquiring an additional 6,184 shares in the last quarter. 89.78% of the stock is currently owned by institutional investors.

Packaging Co. of America Stock Down 0.3 %

Shares of NYSE:PKG traded down $0.66 during midday trading on Tuesday, hitting $244.14. 495,982 shares of the stock were exchanged, compared to its average volume of 600,673. 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 52-week low of $159.57 and a 52-week high of $250.82. The business's fifty day simple moving average is $228.82 and its two-hundred day simple moving average is $205.39. The company has a market capitalization of $21.93 billion, a PE ratio of 28.44, a P/E/G ratio of 3.44 and a beta of 0.77.

Packaging Co. of America (NYSE:PKG - Get Free Report) last posted 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 company 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%. The company's revenue for the quarter was up 14.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.05 earnings per share. As a group, research analysts predict that Packaging Co. of America will post 9.07 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

PKG has been the subject of several research analyst reports. Citigroup upped 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 report on Wednesday, October 2nd. Wells Fargo & Company increased their target price on Packaging Co. of America from $235.00 to $253.00 and gave the company an "overweight" rating in a report on Thursday, October 24th. Truist Financial reiterated a "buy" rating and set a $252.00 price target (up previously from $242.00) on shares of Packaging Co. of America in a report on Thursday, October 24th. Finally, StockNews.com downgraded Packaging Co. of America from a "buy" rating to a "hold" rating in a research note on Wednesday, November 20th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, Packaging Co. of America currently has a consensus rating of "Hold" and a consensus target price of $221.60.

Insider Transactions at Packaging Co. of America

In other news, CFO Robert P. Mundy sold 12,500 shares of the business's stock in a transaction 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Donald R. Shirley sold 8,000 shares of the firm's stock in a transaction 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 in the company, valued at $3,777,145. The trade was a 33.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 31,000 shares of company stock worth $7,500,905. 1.70% of the stock is owned by corporate 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.