Vinva Investment Management Ltd Has $865,000 Position in Packaging Co. of America (NYSE:PKG)

Vinva Investment Management Ltd raised its position in Packaging Co. of America (NYSE:PKG) by 62.4% in the third quarter, HoldingsChannel.com reports. The fund owned 4,009 shares of the industrial products company’s stock after purchasing an additional 1,541 shares during the quarter. Vinva Investment Management Ltd’s holdings in Packaging Co. of America were worth $865,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently added to or reduced their stakes in the company. Public Sector Pension Investment Board lifted its stake in Packaging Co. of America by 15.0% in the third quarter. Public Sector Pension Investment Board now owns 3,830 shares of the industrial products company’s stock valued at $825,000 after acquiring an additional 500 shares during the last quarter. Fiduciary Trust Co lifted its stake in Packaging Co. of America by 2.0% in the third quarter. Fiduciary Trust Co now owns 3,367 shares of the industrial products company’s stock valued at $725,000 after acquiring an additional 66 shares during the last quarter. De Lisle Partners LLP acquired a new stake in Packaging Co. of America in the third quarter valued at $495,000. CreativeOne Wealth LLC lifted its stake in Packaging Co. of America by 91.1% in the third quarter. CreativeOne Wealth LLC now owns 3,774 shares of the industrial products company’s stock valued at $813,000 after acquiring an additional 1,799 shares during the last quarter. Finally, Townsquare Capital LLC lifted its stake in Packaging Co. of America by 7.8% in the third quarter. Townsquare Capital LLC now owns 2,791 shares of the industrial products company’s stock valued at $601,000 after acquiring an additional 201 shares during the last quarter. Institutional investors and hedge funds own 89.78% of the company’s stock.

Packaging Co. of America Price Performance

NYSE:PKG opened at $248.66 on Friday. Packaging Co. of America has a 52 week low of $159.57 and a 52 week high of $250.82. The firm has a market cap of $22.33 billion, a price-to-earnings ratio of 28.98, a P/E/G ratio of 3.47 and a beta of 0.76. The firm’s 50-day simple moving average is $227.50 and its 200 day simple moving average is $204.16. 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 (NYSE:PKG) last released its quarterly earnings results on Tuesday, October 22nd. The industrial products company reported $2.65 EPS for the quarter, topping analysts’ consensus estimates of $2.50 by $0.15. Packaging Co. of America had a net margin of 9.46% and a return on equity of 19.10%. The business had revenue of $2.18 billion for the quarter, compared to analyst estimates of $2.09 billion. During the same period last year, the firm earned $2.05 earnings per share. Packaging Co. of America’s revenue for the quarter was up 14.9% compared to the same quarter last year. As a group, sell-side analysts predict that Packaging Co. of America will post 9.07 earnings per share for the current year.

Insider Buying and Selling

In other Packaging Co. of America news, Director Paul T. Stecko sold 10,500 shares of the firm’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $244.91, for a total value of $2,571,555.00. Following the transaction, the director now directly owns 8,881 shares of the company’s stock, valued at $2,175,045.71. This trade represents a 54.18 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Robert P. Mundy sold 12,500 shares of the firm’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $240.62, for a total transaction of $3,007,750.00. Following the completion of the transaction, the chief financial officer now directly owns 43,954 shares in the company, valued at approximately $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. Over the last three months, insiders have sold 31,000 shares of company stock valued at $7,500,905. 1.60% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. StockNews.com cut shares of Packaging Co. of America from a “buy” rating to a “hold” rating in a research note on Wednesday, November 20th. Truist Financial reissued a “buy” rating and issued a $252.00 price objective (up from $242.00) on shares of Packaging Co. of America in a research report on Thursday, October 24th. Wells Fargo & Company increased 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. Finally, Citigroup increased their price objective 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. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $221.60.

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.