Czech National Bank Has $3.10 Million Position in Packaging Co. of America (NYSE:PKG)

Czech National Bank raised its stake in Packaging Co. of America (NYSE:PKG) by 8.5% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 16,987 shares of the industrial products company’s stock after buying an additional 1,337 shares during the quarter. Czech National Bank’s holdings in Packaging Co. of America were worth $3,101,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in PKG. International Assets Investment Management LLC lifted its position in shares of Packaging Co. of America by 19,323.7% in the fourth quarter. International Assets Investment Management LLC now owns 30,301 shares of the industrial products company’s stock worth $4,936,000 after purchasing an additional 30,145 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in Packaging Co. of America by 2.6% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 33,433 shares of the industrial products company’s stock worth $5,447,000 after acquiring an additional 835 shares during the last quarter. Nisa Investment Advisors LLC grew its position in shares of Packaging Co. of America by 6.5% in the fourth quarter. Nisa Investment Advisors LLC now owns 14,787 shares of the industrial products company’s stock valued at $2,409,000 after purchasing an additional 900 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in Packaging Co. of America by 90.2% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 13,431 shares of the industrial products company’s stock worth $2,188,000 after purchasing an additional 6,368 shares during the last quarter. Finally, Sequoia Financial Advisors LLC bought a new position in Packaging Co. of America during the 4th quarter worth $509,000. Institutional investors own 89.78% of the company’s stock.

Packaging Co. of America Stock Down 0.2 %

Shares of PKG traded down $0.30 during trading hours on Monday, hitting $193.77. The stock had a trading volume of 49,120 shares, compared to its average volume of 621,423. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.46 and a quick ratio of 1.74. Packaging Co. of America has a 1-year low of $143.82 and a 1-year high of $201.99. The firm has a 50 day simple moving average of $187.54 and a 200-day simple moving average of $181.70. The firm has a market capitalization of $17.40 billion, a P/E ratio of 24.26, a price-to-earnings-growth ratio of 5.14 and a beta of 0.77.

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

Wall Street Analysts Forecast Growth

PKG has been the topic of a number of analyst reports. Bank of America increased their price objective on shares of 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. Wells Fargo & Company upped their price objective on shares of Packaging Co. of America from $194.00 to $215.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. Citigroup boosted their target price on shares of Packaging Co. of America from $181.00 to $187.00 and gave the stock a “neutral” rating in a research note on Monday, July 8th. Truist Financial increased their price target on Packaging Co. of America from $215.00 to $219.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Finally, StockNews.com upgraded Packaging Co. of America from a “hold” rating to a “buy” rating in a research report on Wednesday, July 24th. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, Packaging Co. of America has a consensus rating of “Moderate Buy” and an average target price of $190.50.

Insider Buying and Selling

In other news, EVP Charles J. Carter sold 5,389 shares of the firm’s stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $196.28, for a total transaction of $1,057,752.92. Following the completion of the sale, the executive vice president now owns 25,539 shares in the company, valued at approximately $5,012,794.92. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, SVP Donald R. Shirley sold 6,000 shares of the company’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 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 legal filing with the SEC, which is available at the SEC website. Also, EVP Charles J. Carter sold 5,389 shares of Packaging Co. of America stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $196.28, for a total value of $1,057,752.92. Following the sale, the executive vice president now directly owns 25,539 shares of the company’s stock, valued at approximately $5,012,794.92. The disclosure for this sale can be found here. 1.60% of the stock is currently owned by corporate insiders.

Packaging Co. of America Company 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.