Packaging Co. of America (NYSE:PKG) Shares Sold by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank reduced its holdings in shares of Packaging Co. of America (NYSE:PKG - Free Report) by 40.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 17,750 shares of the industrial products company's stock after selling 12,151 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank's holdings in Packaging Co. of America were worth $3,823,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. lifted its stake in shares of Packaging Co. of America by 3.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,937,113 shares of the industrial products company's stock valued at $632,654,000 after buying an additional 98,223 shares in the last quarter. Victory Capital Management Inc. grew its stake in Packaging Co. of America by 1.5% during the second quarter. Victory Capital Management Inc. now owns 2,853,417 shares of the industrial products company's stock valued at $520,920,000 after acquiring an additional 41,903 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Packaging Co. of America by 8.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,153,732 shares of the industrial products company's stock valued at $210,636,000 after acquiring an additional 86,005 shares during the last quarter. FMR LLC increased its holdings in shares of Packaging Co. of America by 3.4% in the third quarter. FMR LLC now owns 1,076,350 shares of the industrial products company's stock worth $231,846,000 after purchasing an additional 35,827 shares during the last quarter. Finally, Millennium Management LLC grew its holdings in Packaging Co. of America by 34.3% during the 2nd quarter. Millennium Management LLC now owns 1,027,585 shares of the industrial products company's stock valued at $187,596,000 after buying an additional 262,315 shares in the last quarter. 89.78% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Wells Fargo & Company raised their price target on shares of Packaging Co. of America from $235.00 to $253.00 and gave the stock an "overweight" rating in a research note on Thursday, October 24th. StockNews.com lowered Packaging Co. of America from a "buy" rating to a "hold" rating in a research report on Wednesday, November 20th. Citigroup lifted 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 note on Wednesday, October 2nd. Finally, Truist Financial restated a "buy" rating and set a $252.00 price target (up previously from $242.00) on shares of Packaging Co. of America in a research report on Thursday, October 24th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $221.60.

Insider Activity

In other news, SVP Donald R. Shirley sold 8,000 shares of Packaging Co. of America stock in a transaction that occurred 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 completion of 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Paul T. Stecko sold 10,500 shares of the business's stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $244.91, for a total transaction of $2,571,555.00. Following the sale, the director now owns 8,881 shares of the company's stock, valued at approximately $2,175,045.71. The trade was a 54.18 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 31,000 shares of company stock worth $7,500,905. 1.70% of the stock is currently owned by company insiders.

Packaging Co. of America Trading Down 0.3 %

Shares of PKG traded down $0.66 during trading hours on Tuesday, hitting $244.14. The stock had a trading volume of 495,982 shares, compared to its average volume of 600,673. The company's fifty day simple moving average is $228.82 and its 200 day simple moving average is $205.39. 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 firm has a market cap of $21.93 billion, a P/E 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 announced its quarterly earnings results on Tuesday, October 22nd. The industrial products company reported $2.65 earnings per share for the quarter, beating analysts' consensus estimates 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 firm had revenue of $2.18 billion for the quarter, compared to analysts' expectations of $2.09 billion. During the same period in the previous year, the company posted $2.05 earnings per share. Packaging Co. of America's revenue was up 14.9% compared to the same quarter last year. Equities research analysts forecast that Packaging Co. of America will post 9.07 EPS for the current fiscal 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.