Stifel Financial Corp Acquires 536,389 Shares of Packaging Co. of America (NYSE:PKG)

Stifel Financial Corp boosted its position in Packaging Co. of America (NYSE:PKG - Free Report) by 1,462.2% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 573,073 shares of the industrial products company's stock after purchasing an additional 536,389 shares during the period. Stifel Financial Corp owned approximately 0.64% of Packaging Co. of America worth $123,440,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in PKG. Cetera Investment Advisers lifted its position in Packaging Co. of America by 981.4% in the first quarter. Cetera Investment Advisers now owns 19,109 shares of the industrial products company's stock worth $3,626,000 after purchasing an additional 17,342 shares during the period. Cetera Advisors LLC increased its holdings in shares of Packaging Co. of America by 33.0% in the first quarter. Cetera Advisors LLC now owns 2,535 shares of the industrial products company's stock valued at $481,000 after buying an additional 629 shares in the last quarter. Park Avenue Securities LLC increased its holdings in shares of Packaging Co. of America by 22.4% in the second quarter. Park Avenue Securities LLC now owns 5,298 shares of the industrial products company's stock valued at $967,000 after buying an additional 971 shares in the last quarter. CWM LLC increased its holdings in shares of Packaging Co. of America by 88.2% in the second quarter. CWM LLC now owns 5,184 shares of the industrial products company's stock valued at $946,000 after buying an additional 2,430 shares in the last quarter. Finally, BDF Gestion bought a new position in shares of Packaging Co. of America in the second quarter valued at $2,225,000. 89.78% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. 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 report on Thursday, October 24th. StockNews.com raised Packaging Co. of America from a "hold" rating to a "buy" rating in a report on Tuesday. Citigroup upped their price target on Packaging Co. of America from $199.00 to $221.00 and gave the company a "neutral" rating in a report on Wednesday, October 2nd. 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 report on Thursday, October 24th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $221.60.

Insider Activity

In related news, CFO Robert P. Mundy sold 12,500 shares of the company'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. This represents a 22.14 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Joseph Vaughn sold 2,300 shares of the company's stock in a transaction 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 completion of the sale, the senior vice president now owns 9,197 shares of the company's stock, valued at $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 have sold a total of 33,300 shares of company stock worth $8,064,152 in the last ninety days. Corporate insiders own 1.60% of the company's stock.

Packaging Co. of America Stock Down 0.7 %

NYSE:PKG traded down $1.67 during trading hours on Friday, hitting $242.67. 894,513 shares of the stock traded hands, compared to its average volume of 601,854. The firm has a 50 day moving average price of $231.12 and a 200 day moving average price of $206.78. The company has a current ratio of 2.95, a quick ratio of 1.98 and a debt-to-equity ratio of 0.58. Packaging Co. of America has a fifty-two week low of $159.57 and a fifty-two week high of $250.82. The firm has a market cap of $21.79 billion, a price-to-earnings ratio of 28.28, a PEG ratio of 3.43 and a beta of 0.77.

Packaging Co. of America (NYSE:PKG - Get Free Report) last announced its earnings results on Tuesday, October 22nd. The industrial products company reported $2.65 earnings per share (EPS) for the quarter, beating 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 company had revenue of $2.18 billion for the quarter, compared to the consensus estimate of $2.09 billion. During the same period in the previous year, the business earned $2.05 EPS. The company's revenue was up 14.9% on a year-over-year basis. Equities research analysts anticipate that Packaging Co. of America will post 9.07 earnings per share for the current year.

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.