QRG Capital Management Inc. Grows Stake in Packaging Co. of America (NYSE:PKG)

QRG Capital Management Inc. increased its position in shares of Packaging Co. of America (NYSE:PKG) by 68.7% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 69,958 shares of the industrial products company’s stock after purchasing an additional 28,495 shares during the period. QRG Capital Management Inc. owned approximately 0.08% of Packaging Co. of America worth $12,771,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Tokio Marine Asset Management Co. Ltd. increased its stake in shares of Packaging Co. of America by 2.8% in the first quarter. Tokio Marine Asset Management Co. Ltd. now owns 2,160 shares of the industrial products company’s stock worth $410,000 after acquiring an additional 59 shares during the period. Mather Group LLC. lifted its stake in Packaging Co. of America by 3.0% during the fourth quarter. Mather Group LLC. now owns 2,263 shares of the industrial products company’s stock worth $369,000 after purchasing an additional 66 shares in the last quarter. First Horizon Advisors Inc. increased its stake in Packaging Co. of America by 60.5% during the fourth quarter. First Horizon Advisors Inc. now owns 183 shares of the industrial products company’s stock worth $30,000 after purchasing an additional 69 shares during the period. Kentucky Retirement Systems Insurance Trust Fund lifted its holdings in Packaging Co. of America by 2.4% during the 4th quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 3,193 shares of the industrial products company’s stock worth $520,000 after buying an additional 75 shares in the last quarter. Finally, Savant Capital LLC grew its stake in shares of Packaging Co. of America by 2.7% in the fourth quarter. Savant Capital LLC now owns 3,098 shares of the industrial products company’s stock worth $505,000 after acquiring an additional 81 shares in the last quarter. Hedge funds and other institutional investors own 89.78% of the company’s stock.

Insider Buying and Selling at Packaging Co. of America

In other Packaging Co. of America news, SVP Donald R. Shirley sold 6,000 shares of the firm’s stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $196.28, for a total value of $1,177,680.00. Following the completion of the transaction, the senior vice president now owns 20,772 shares of the company’s stock, valued at $4,077,128.16. The transaction was disclosed in a filing with the SEC, which is available at this link. In other news, Director Karen E. Gowland bought 300 shares of Packaging Co. of America stock in a transaction that occurred on Wednesday, May 15th. The shares were purchased at an average price of $182.06 per share, with a total value of $54,618.00. Following the completion of the acquisition, the director now directly owns 916 shares in the company, valued at $166,766.96. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Donald R. Shirley sold 6,000 shares of the firm’s stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $196.28, for a total value of $1,177,680.00. Following the completion of the sale, the senior vice president now owns 20,772 shares in the company, valued at $4,077,128.16. The disclosure for this sale can be found here. 1.60% of the stock is owned by corporate insiders.

Packaging Co. of America Stock Performance

NYSE:PKG traded down $2.70 on Friday, reaching $194.07. 451,514 shares of the company’s stock were exchanged, compared to its average volume of 612,002. Packaging Co. of America has a 52 week low of $143.82 and a 52 week high of $201.99. The stock has a fifty day simple moving average of $187.54 and a 200-day simple moving average of $181.58. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.46 and a quick ratio of 1.74. The firm has a market cap of $17.43 billion, a price-to-earnings ratio of 24.26, a P/E/G ratio of 5.14 and a beta of 0.77.

Packaging Co. of America (NYSE:PKG) last released its earnings results on Tuesday, July 23rd. The industrial products company reported $2.20 EPS for the quarter, topping the consensus estimate of $2.14 by $0.06. Packaging Co. of America had a return on equity of 18.39% and a net margin of 9.06%. The business had revenue of $2.08 billion for the quarter, compared to the consensus estimate of $2.02 billion. During the same period in the previous year, the company posted $2.31 earnings per share. The company’s revenue for the quarter was up 6.3% compared to the same quarter last year. As a group, sell-side analysts predict that Packaging Co. of America will post 8.62 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts have weighed in on PKG shares. BNP Paribas downgraded Packaging Co. of America from an “outperform” rating to a “neutral” rating and set a $182.00 target price on the stock. in a research note on Friday, April 12th. Citigroup lifted their price objective on shares of Packaging Co. of America from $181.00 to $187.00 and gave the company a “neutral” rating in a research note on Monday, July 8th. Wells Fargo & Company lifted their price target on Packaging Co. of America from $194.00 to $215.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. Bank of America upped their price objective on Packaging Co. of America from $197.00 to $200.00 and gave the stock a “buy” rating in a research note on Monday, June 17th. Finally, Truist Financial raised their price target on Packaging Co. of America from $215.00 to $219.00 and gave the company a “buy” rating in a report on Thursday, July 25th. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $190.50.

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.