BNP Paribas Financial Markets Has $26.20 Million Stock Position in Packaging Co. of America (NYSE:PKG)

BNP Paribas Financial Markets boosted its holdings in shares of Packaging Co. of America (NYSE:PKG) by 24.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 121,641 shares of the industrial products company’s stock after buying an additional 23,683 shares during the quarter. BNP Paribas Financial Markets owned approximately 0.14% of Packaging Co. of America worth $26,201,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Brooklyn Investment Group bought a new position in Packaging Co. of America during the third quarter worth about $64,000. FMR LLC lifted 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 acquiring an additional 35,827 shares during the last quarter. Bank of Montreal Can boosted its position in Packaging Co. of America by 19.0% in the third quarter. Bank of Montreal Can now owns 101,641 shares of the industrial products company’s stock valued at $21,924,000 after buying an additional 16,219 shares in the last quarter. Private Trust Co. NA boosted its holdings in shares of Packaging Co. of America by 21.8% during the 3rd quarter. Private Trust Co. NA now owns 1,090 shares of the industrial products company’s stock valued at $235,000 after acquiring an additional 195 shares in the last quarter. Finally, Loomis Sayles & Co. L P increased its stake in shares of Packaging Co. of America by 7.0% in the third quarter. Loomis Sayles & Co. L P now owns 81,869 shares of the industrial products company’s stock valued at $17,634,000 after buying an additional 5,361 shares during the period. Institutional investors own 89.78% of the company’s stock.

Insider Buying and Selling at Packaging Co. of America

In other news, Director Paul T. Stecko sold 10,500 shares of the firm’s stock in a transaction that occurred 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 transaction, the director now directly owns 8,881 shares of the company’s stock, valued at approximately $2,175,045.71. This trade represents a 54.18 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Robert P. Mundy sold 12,500 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $240.62, for a total transaction of $3,007,750.00. Following the completion of the sale, the chief financial officer now directly owns 43,954 shares of the company’s stock, valued at $10,576,211.48. The trade was a 22.14 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 31,000 shares of company stock valued at $7,500,905 over the last ninety days. 1.60% of the stock is currently owned by company insiders.

Packaging Co. of America Trading Up 0.7 %

Packaging Co. of America stock opened at $248.66 on Friday. The business’s fifty day moving average is $227.50 and its 200 day moving average is $204.16. Packaging Co. of America has a one year low of $159.57 and a one year high of $250.82. The stock has a market capitalization of $22.33 billion, a PE ratio of 28.98, a price-to-earnings-growth ratio of 3.47 and a beta of 0.76. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.95 and a quick ratio of 1.98.

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 for the quarter, topping the consensus estimate of $2.50 by $0.15. The firm had revenue of $2.18 billion for the quarter, compared to analysts’ expectations of $2.09 billion. Packaging Co. of America had a net margin of 9.46% and a return on equity of 19.10%. The business’s quarterly revenue was up 14.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.05 EPS. On average, sell-side analysts predict that Packaging Co. of America will post 9.07 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on PKG. StockNews.com lowered Packaging Co. of America from a “buy” rating to a “hold” rating in a research note on Wednesday, November 20th. Wells Fargo & Company increased their price objective on shares of 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 lifted their price target on shares of Packaging Co. of America from $199.00 to $221.00 and gave the company a “neutral” rating in a research report on Wednesday, October 2nd. Finally, Truist Financial reissued a “buy” rating and set a $252.00 price objective (up from $242.00) on shares of Packaging Co. of America in a report on Thursday, October 24th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $221.60.

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.