State Street Corp Has $855.21 Million Holdings in Packaging Co. of America (NYSE:PKG)

State Street Corp lifted its holdings in Packaging Co. of America (NYSE:PKG - Free Report) by 3.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,948,546 shares of the industrial products company's stock after purchasing an additional 123,050 shares during the period. State Street Corp owned 4.40% of Packaging Co. of America worth $855,212,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the business. Asset Dedication LLC lifted its position in shares of Packaging Co. of America by 200.0% in the second quarter. Asset Dedication LLC now owns 168 shares of the industrial products company's stock worth $31,000 after buying an additional 112 shares during the last quarter. Central Pacific Bank Trust Division acquired a new position in Packaging Co. of America during the third quarter valued at approximately $32,000. Tortoise Investment Management LLC bought a new position in shares of Packaging Co. of America in the second quarter valued at approximately $33,000. Larson Financial Group LLC lifted its stake in shares of Packaging Co. of America by 234.7% in the third quarter. Larson Financial Group LLC now owns 164 shares of the industrial products company's stock worth $35,000 after buying an additional 115 shares during the last quarter. Finally, Strategic Financial Concepts LLC bought a new stake in shares of Packaging Co. of America during the 2nd quarter worth $50,000. 89.78% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages recently commented on PKG. Citigroup lifted their target price on shares of Packaging Co. of America from $199.00 to $221.00 and gave the stock a "neutral" rating in a report on Wednesday, October 2nd. Truist Financial restated a "buy" rating and set a $252.00 price target (up from $242.00) on shares of Packaging Co. of America in a research note on Thursday, October 24th. StockNews.com raised shares of Packaging Co. of America from a "hold" rating to a "buy" rating in a report on Tuesday, December 3rd. Finally, Wells Fargo & Company upped their price target on Packaging Co. of America from $235.00 to $253.00 and gave the company an "overweight" rating in a research report on Thursday, October 24th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat, Packaging Co. of America has a consensus rating of "Moderate Buy" and an average target price of $221.60.

Packaging Co. of America Price Performance

Shares of PKG stock traded down $1.48 during trading hours on Friday, reaching $242.86. 894,525 shares of the company were exchanged, compared to its average volume of 562,109. Packaging Co. of America has a fifty-two week low of $159.57 and a fifty-two week high of $250.82. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.95 and a quick ratio of 1.98. The stock's fifty day moving average is $231.12 and its two-hundred day moving average is $206.95. The company has a market cap of $21.81 billion, a price-to-earnings ratio of 28.31, a P/E/G ratio of 3.43 and a beta of 0.77.

Packaging Co. of America (NYSE:PKG - Get Free Report) last released its earnings results on Tuesday, October 22nd. The industrial products company reported $2.65 EPS for the quarter, beating the consensus estimate of $2.50 by $0.15. The company had revenue of $2.18 billion during the quarter, compared to analysts' expectations of $2.09 billion. Packaging Co. of America had a return on equity of 19.10% and a net margin of 9.46%. The business's revenue for the quarter was up 14.9% on a year-over-year basis. During the same period last year, the firm earned $2.05 EPS. Sell-side analysts forecast that Packaging Co. of America will post 9.07 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Packaging Co. of America news, SVP Joseph Vaughn sold 2,300 shares of the firm's stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $244.89, for a total transaction of $563,247.00. Following the sale, the senior vice president now directly owns 9,197 shares in the company, valued at approximately $2,252,253.33. This trade represents a 20.01 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Donald R. Shirley sold 8,000 shares of the company's 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 $3,777,145. This trade represents a 33.72 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 33,300 shares of company stock worth $8,064,152. Insiders own 1.60% of the company's stock.

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.