Thrivent Financial for Lutherans Has $1.82 Million Stock Position in Packaging Co. of America (NYSE:PKG)

Thrivent Financial for Lutherans lessened its holdings in shares of Packaging Co. of America (NYSE:PKG) by 84.4% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 8,455 shares of the industrial products company’s stock after selling 45,865 shares during the period. Thrivent Financial for Lutherans’ holdings in Packaging Co. of America were worth $1,821,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Asset Dedication LLC lifted its position in shares of 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 purchasing an additional 112 shares in the last quarter. Central Pacific Bank Trust Division acquired a new position in Packaging Co. of America during the 3rd quarter valued at about $32,000. Tortoise Investment Management LLC acquired a new stake in shares of Packaging Co. of America during the 2nd quarter worth approximately $33,000. Strategic Financial Concepts LLC acquired a new position in Packaging Co. of America in the second quarter valued at approximately $50,000. Finally, Assetmark Inc. grew its holdings in Packaging Co. of America by 44.6% during the 3rd quarter. Assetmark Inc. now owns 269 shares of the industrial products company’s stock worth $58,000 after acquiring an additional 83 shares during the period. 89.78% of the stock is currently owned by institutional investors and hedge funds.

Packaging Co. of America Stock Down 0.4 %

Shares of Packaging Co. of America stock opened at $247.03 on Friday. 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 52-week low of $156.87 and a 52-week high of $250.82. The firm has a market cap of $22.18 billion, a PE ratio of 28.79, a P/E/G ratio of 3.47 and a beta of 0.76. The business’s 50 day simple moving average is $226.87 and its 200 day simple moving average is $203.86.

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

Analyst Ratings Changes

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

Insider Transactions at Packaging Co. of America

In related news, SVP Donald R. Shirley sold 8,000 shares of the company’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $240.20, for a total value of $1,921,600.00. Following the transaction, the senior vice president now owns 15,725 shares in the company, valued at approximately $3,777,145. This represents a 33.72 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Paul T. Stecko sold 10,500 shares of the company’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 value of $2,571,555.00. Following the completion of the transaction, the director now directly owns 8,881 shares in the company, valued at $2,175,045.71. The trade was a 54.18 % 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. Insiders own 1.60% of the company’s stock.

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.