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

Rockefeller Capital Management L.P. grew its stake in Packaging Co. of America (NYSE:PKG) by 6.7% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 88,122 shares of the industrial products company’s stock after purchasing an additional 5,517 shares during the period. Rockefeller Capital Management L.P. owned approximately 0.10% of Packaging Co. of America worth $18,976,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Vinva Investment Management Ltd boosted its stake in shares of Packaging Co. of America by 62.4% in the third quarter. Vinva Investment Management Ltd now owns 4,009 shares of the industrial products company’s stock valued at $865,000 after buying an additional 1,541 shares in the last quarter. Public Sector Pension Investment Board boosted its stake in shares of Packaging Co. of America by 15.0% in the third quarter. Public Sector Pension Investment Board now owns 3,830 shares of the industrial products company’s stock valued at $825,000 after buying an additional 500 shares in the last quarter. Fiduciary Trust Co boosted its stake in shares of Packaging Co. of America by 2.0% in the third quarter. Fiduciary Trust Co now owns 3,367 shares of the industrial products company’s stock valued at $725,000 after buying an additional 66 shares in the last quarter. De Lisle Partners LLP purchased a new stake in shares of Packaging Co. of America in the third quarter valued at approximately $495,000. Finally, CreativeOne Wealth LLC boosted its stake in shares of Packaging Co. of America by 91.1% in the third quarter. CreativeOne Wealth LLC now owns 3,774 shares of the industrial products company’s stock valued at $813,000 after buying an additional 1,799 shares in the last quarter. Institutional investors and hedge funds own 89.78% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently weighed in on PKG. Wells Fargo & Company lifted their price target on 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 reiterated a “buy” rating and set a $252.00 target price (up from $242.00) on shares of Packaging Co. of America in a research report on Thursday, October 24th. StockNews.com downgraded Packaging Co. of America from a “buy” rating to a “hold” rating in a research report on Wednesday, November 20th. Finally, Citigroup boosted 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. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $221.60.

Insider Activity

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

Packaging Co. of America Stock Up 0.7 %

Shares of NYSE:PKG opened at $248.85 on Monday. 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 has a 52-week low of $159.57 and a 52-week high of $250.82. The stock’s fifty day simple moving average is $228.21 and its 200-day simple moving average is $204.79. The company has a market capitalization of $22.35 billion, a P/E ratio of 29.00, a P/E/G ratio of 3.49 and a beta of 0.76.

Packaging Co. of America (NYSE:PKG) last issued its quarterly earnings data 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 return on equity of 19.10% and a net margin of 9.46%. The business had revenue of $2.18 billion for the quarter, compared to the consensus estimate of $2.09 billion. During the same period in the prior year, the business earned $2.05 earnings per share. The business’s revenue was up 14.9% on a year-over-year basis. As a group, equities research analysts forecast 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.