Packaging Co. of America (NYSE:PKG) Shares Bought by Rockefeller Capital Management L.P.

Rockefeller Capital Management L.P. raised its holdings in shares of Packaging Co. of America (NYSE:PKG - Free Report) by 6.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 88,122 shares of the industrial products company's stock after purchasing an additional 5,517 shares during the quarter. Rockefeller Capital Management L.P. owned 0.10% of Packaging Co. of America worth $18,976,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Cetera Investment Advisers raised its holdings in Packaging Co. of America by 981.4% during the 1st quarter. Cetera Investment Advisers now owns 19,109 shares of the industrial products company's stock valued at $3,626,000 after buying an additional 17,342 shares during the period. Cetera Advisors LLC boosted its stake in shares of Packaging Co. of America by 33.0% during the 1st 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 during the period. GAMMA Investing LLC grew its holdings in Packaging Co. of America by 42.3% during the 2nd quarter. GAMMA Investing LLC now owns 1,208 shares of the industrial products company's stock valued at $221,000 after purchasing an additional 359 shares during the last quarter. DNB Asset Management AS raised its position in Packaging Co. of America by 11.3% in the 2nd quarter. DNB Asset Management AS now owns 16,247 shares of the industrial products company's stock worth $2,966,000 after purchasing an additional 1,652 shares during the period. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new stake in Packaging Co. of America in the second quarter worth about $62,000. 89.78% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Insider Activity at Packaging Co. of America

In other news, Director Paul T. Stecko sold 10,500 shares of the stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $244.91, for a total transaction of $2,571,555.00. Following the completion of the sale, the director now owns 8,881 shares in the company, valued at approximately $2,175,045.71. This represents a 54.18 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Donald R. Shirley sold 8,000 shares of the business's stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $240.20, for a total value of $1,921,600.00. Following the transaction, the senior vice president now owns 15,725 shares in the company, valued at approximately $3,777,145. This trade represents a 33.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 31,000 shares of company stock valued at $7,500,905 over the last quarter. 1.60% of the stock is owned by corporate insiders.

Packaging Co. of America Stock Down 1.6 %

Packaging Co. of America stock traded down $3.96 during midday trading on Monday, hitting $244.89. 653,737 shares of the company's stock were exchanged, compared to its average volume of 601,125. Packaging Co. of America has a 12 month low of $159.57 and a 12 month high of $250.82. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.98 and a current ratio of 2.95. The company has a market cap of $21.99 billion, a PE ratio of 28.93, a P/E/G ratio of 3.49 and a beta of 0.76. The firm has a 50-day moving average of $228.21 and a two-hundred day moving average of $204.95.

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 EPS for the quarter, topping analysts' consensus estimates 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%. Packaging Co. of America's revenue for the quarter was up 14.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.05 earnings per share. As a group, analysts expect that Packaging Co. of America will post 9.07 earnings per share for the current fiscal year.

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.