36,595 Shares in Packaging Co. of America (NYSE:PKG) Bought by Point72 Asset Management L.P.

Point72 Asset Management L.P. purchased a new stake in shares of Packaging Co. of America (NYSE:PKG - Free Report) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 36,595 shares of the industrial products company's stock, valued at approximately $7,883,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Central Pacific Bank Trust Division acquired a new stake in shares of Packaging Co. of America in the third quarter valued at $32,000. Larson Financial Group LLC increased its position in Packaging Co. of America by 234.7% in the 3rd quarter. Larson Financial Group LLC now owns 164 shares of the industrial products company's stock valued at $35,000 after acquiring an additional 115 shares in the last quarter. Asset Dedication LLC raised its stake in shares of Packaging Co. of America by 200.0% in 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. Tortoise Investment Management LLC bought a new position in shares of Packaging Co. of America in the second quarter worth about $33,000. Finally, Assetmark Inc. lifted its position in shares of Packaging Co. of America by 44.6% during the third quarter. Assetmark Inc. now owns 269 shares of the industrial products company's stock worth $58,000 after purchasing an additional 83 shares in the last quarter. 89.78% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Truist Financial reissued a "buy" rating and issued a $252.00 price target (up previously from $242.00) on shares of Packaging Co. of America in a report on Thursday, October 24th. Wells Fargo & Company boosted their target price on 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. StockNews.com raised Packaging Co. of America from a "hold" rating to a "buy" rating in a research note on Tuesday, December 3rd. Finally, Citigroup lifted their price objective 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. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $221.60.

Packaging Co. of America Trading Down 0.6 %

Shares of PKG stock traded down $1.48 during trading hours on Friday, reaching $242.86. The company had a trading volume of 894,525 shares, compared to its average volume of 562,109. 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 has a 1-year low of $159.57 and a 1-year high of $250.82. The company has a 50 day moving average of $231.12 and a 200 day moving average of $207.13. The firm has a market cap of $21.81 billion, a price-to-earnings ratio of 28.31, a P/E/G ratio of 3.43 and a beta of 0.77.

Packaging Co. of America (NYSE:PKG - Get Free Report) last released its earnings results on Tuesday, October 22nd. The industrial products company reported $2.65 earnings per share for the quarter, beating the consensus estimate of $2.50 by $0.15. The firm had revenue of $2.18 billion for the quarter, compared to analyst estimates of $2.09 billion. Packaging Co. of America had a return on equity of 19.10% and a net margin of 9.46%. The company's quarterly revenue was up 14.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.05 earnings per share. On average, equities research analysts anticipate that Packaging Co. of America will post 9.07 EPS for the current year.

Insider Buying and Selling

In related news, CFO Robert P. Mundy sold 12,500 shares of the business'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 value 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. The trade was a 22.14 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Donald R. Shirley sold 8,000 shares of the company's stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $240.20, for a total transaction 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 $3,777,145. This trade represents a 33.72 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 33,300 shares of company stock valued at $8,064,152 in the last 90 days. 1.60% of the stock is owned by 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.