Centiva Capital LP Takes $949,000 Position in Packaging Co. of America (NYSE:PKG)

Centiva Capital LP acquired a new position in Packaging Co. of America (NYSE:PKG) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 4,408 shares of the industrial products company’s stock, valued at approximately $949,000.

Several other large investors have also made changes to their positions in PKG. Summit Financial Strategies Inc. lifted its holdings in shares of Packaging Co. of America by 5.5% during the second quarter. Summit Financial Strategies Inc. now owns 234,495 shares of the industrial products company’s stock worth $42,809,000 after buying an additional 12,129 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its stake in Packaging Co. of America by 227.5% during the 3rd 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 purchasing an additional 22,397 shares during the last quarter. M&G Plc acquired a new position in Packaging Co. of America during the 2nd quarter valued at $840,000. Dai ichi Life Insurance Company Ltd boosted its holdings in Packaging Co. of America by 10.5% in the 2nd 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 purchasing an additional 3,355 shares during the period. Finally, Wealth Enhancement Advisory Services LLC grew its position in Packaging Co. of America by 22.7% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 33,401 shares of the industrial products company’s stock worth $6,098,000 after purchasing an additional 6,184 shares during the last quarter. Institutional investors and hedge funds own 89.78% of the company’s stock.

Insider Buying and Selling

In related news, Director Paul T. Stecko sold 10,500 shares of the stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $244.91, for a total transaction of $2,571,555.00. Following the sale, the director now directly owns 8,881 shares in the company, valued at $2,175,045.71. This represents a 54.18 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Robert P. Mundy sold 12,500 shares of the firm’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 sale, the chief financial officer now directly owns 43,954 shares of the company’s stock, valued at $10,576,211.48. This represents a 22.14 % decrease in their ownership of the stock. 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 owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages have recently commented on PKG. Wells Fargo & Company upped their price objective on shares of 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. StockNews.com raised Packaging Co. of America from a “hold” rating to a “buy” rating in a report on Tuesday. Truist Financial reissued a “buy” rating and set a $252.00 price objective (up previously from $242.00) on shares of Packaging Co. of America in a report on Thursday, October 24th. Finally, Citigroup upped their target price on 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. Three 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, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $221.60.

Packaging Co. of America Stock Up 0.1 %

NYSE PKG opened at $244.25 on Friday. Packaging Co. of America has a 1-year low of $159.57 and a 1-year high of $250.82. The company has a market capitalization of $21.94 billion, a price-to-earnings ratio of 28.47, a PEG ratio of 3.43 and a beta of 0.77. The stock’s 50 day moving average is $229.99 and its two-hundred day moving average is $206.09. 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 (NYSE:PKG) last announced its quarterly 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. 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 analyst estimates of $2.09 billion. During the same quarter in the previous year, the firm earned $2.05 EPS. Packaging Co. of America’s quarterly revenue was up 14.9% on a year-over-year basis. Equities 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.