Worldquant Millennium Advisors LLC Makes New $1.47 Million Investment in Packaging Co. of America (NYSE:PKG)

Worldquant Millennium Advisors LLC bought a new stake in Packaging Co. of America (NYSE:PKG - Free Report) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 6,811 shares of the industrial products company's stock, valued at approximately $1,467,000.

Other institutional investors have also added to or reduced their stakes in the company. Summit Financial Strategies Inc. boosted its holdings in Packaging Co. of America by 5.5% in the second quarter. Summit Financial Strategies Inc. now owns 234,495 shares of the industrial products company's stock valued at $42,809,000 after acquiring an additional 12,129 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its stake in 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 during the period. M&G Plc acquired a new position in Packaging Co. of America in the second quarter valued at approximately $840,000. Dai ichi Life Insurance Company Ltd lifted its stake in 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 valued at $6,425,000 after buying an additional 3,355 shares during the period. Finally, Wealth Enhancement Advisory Services LLC lifted its stake in 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 valued at $6,098,000 after buying an additional 6,184 shares during the period. 89.78% of the stock is currently owned by institutional investors.

Packaging Co. of America Stock Down 1.3 %

NYSE PKG traded down $3.15 on Monday, reaching $239.71. The company had a trading volume of 661,917 shares, compared to its average volume of 602,107. The stock has a market capitalization of $21.53 billion, a P/E ratio of 28.35, a P/E/G ratio of 3.41 and a beta of 0.77. The company's fifty day moving average is $231.12 and its 200 day moving average is $207.13. Packaging Co. of America has a 52-week low of $159.57 and a 52-week high of $250.82. The company has a quick ratio of 1.98, a current ratio of 2.95 and a debt-to-equity ratio of 0.58.

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

Wall Street Analyst Weigh In

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

Insider Buying and Selling at Packaging Co. of America

In other Packaging Co. of America news, CFO Robert P. Mundy sold 12,500 shares of the company's stock in a transaction on Friday, November 8th. The stock was sold at an average price of $240.62, for a total value of $3,007,750.00. Following the completion of the transaction, the chief financial officer now owns 43,954 shares in the company, valued at $10,576,211.48. This represents a 22.14 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Joseph Vaughn sold 2,300 shares of the stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $244.89, for a total value of $563,247.00. Following the transaction, the senior vice president now owns 9,197 shares of the company's stock, valued at $2,252,253.33. The trade was a 20.01 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 33,300 shares of company stock worth $8,064,152 in the last quarter. 1.60% of the stock is currently owned by company insiders.

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.