Packaging Co. of America (NYSE:PKG) Shares Sold by Glenmede Trust Co. NA

Glenmede Trust Co. NA reduced its stake in shares of Packaging Co. of America (NYSE:PKG) by 20.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,322 shares of the industrial products company’s stock after selling 1,405 shares during the period. Glenmede Trust Co. NA’s holdings in Packaging Co. of America were worth $1,146,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the stock. Asset Dedication LLC increased its stake in Packaging Co. of America by 200.0% during the second quarter. Asset Dedication LLC now owns 168 shares of the industrial products company’s stock worth $31,000 after acquiring an additional 112 shares during the last quarter. Central Pacific Bank Trust Division acquired a new stake in Packaging Co. of America during the 3rd quarter worth approximately $32,000. Tortoise Investment Management LLC purchased a new position in Packaging Co. of America in the second quarter valued at approximately $33,000. Larson Financial Group LLC lifted its position in Packaging Co. of America by 234.7% during the third quarter. Larson Financial Group LLC now owns 164 shares of the industrial products company’s stock valued at $35,000 after buying an additional 115 shares in the last quarter. Finally, Strategic Financial Concepts LLC purchased a new stake in Packaging Co. of America during the second quarter worth approximately $50,000. 89.78% of the stock is currently owned by hedge funds and other institutional investors.

Packaging Co. of America Stock Down 1.6 %

Shares of NYSE PKG opened at $244.89 on Tuesday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.98 and a current ratio of 2.95. Packaging Co. of America has a 1 year low of $159.57 and a 1 year high of $250.82. The stock’s 50-day simple moving average is $228.21 and its 200-day simple moving average is $204.95. The firm has a market cap of $21.99 billion, a price-to-earnings ratio of 28.54, a PEG ratio of 3.49 and a beta of 0.76.

Packaging Co. of America (NYSE:PKG) last posted its quarterly earnings data on Tuesday, October 22nd. The industrial products company reported $2.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.50 by $0.15. The company had revenue of $2.18 billion for the quarter, compared to the consensus estimate of $2.09 billion. Packaging Co. of America had a return on equity of 19.10% and a net margin of 9.46%. Packaging Co. of America’s revenue for the quarter was up 14.9% compared to the same quarter last year. During the same period in the previous year, the business earned $2.05 EPS. As a group, equities analysts anticipate that Packaging Co. of America will post 9.07 earnings per share for the current fiscal year.

Analyst Ratings Changes

PKG has been the topic of several recent research reports. Citigroup lifted their target price on shares of Packaging Co. of America from $199.00 to $221.00 and gave the company a “neutral” rating in a report on Wednesday, October 2nd. Truist Financial reaffirmed a “buy” rating and issued a $252.00 target price (up previously 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 report on Wednesday, November 20th. Finally, Wells Fargo & Company upped their price target on Packaging Co. of America from $235.00 to $253.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $221.60.

Insider Buying and Selling at Packaging Co. of America

In other Packaging Co. of America news, Director Paul T. Stecko sold 10,500 shares of the company’s 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 owns 8,881 shares in the company, valued at $2,175,045.71. This represents a 54.18 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, 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 of the company’s stock, valued at approximately $3,777,145. The trade was a 33.72 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 31,000 shares of company stock worth $7,500,905 in the last ninety days. 1.60% of the stock is owned by insiders.

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.