Centiva Capital LP Makes New $949,000 Investment in Packaging Co. of America (NYSE:PKG)

Centiva Capital LP purchased a new stake in shares of Packaging Co. of America (NYSE:PKG - Free Report) in the third quarter, according to its most recent disclosure with the SEC. The firm purchased 4,408 shares of the industrial products company's stock, valued at approximately $949,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in PKG. Cetera Investment Advisers increased its position in shares of Packaging Co. of America by 981.4% during the first quarter. Cetera Investment Advisers now owns 19,109 shares of the industrial products company's stock worth $3,626,000 after acquiring an additional 17,342 shares during the last quarter. Cetera Advisors LLC increased its holdings in Packaging Co. of America by 33.0% during the 1st quarter. Cetera Advisors LLC now owns 2,535 shares of the industrial products company's stock worth $481,000 after purchasing an additional 629 shares during the last quarter. Park Avenue Securities LLC increased its holdings in Packaging Co. of America by 22.4% during the 2nd quarter. Park Avenue Securities LLC now owns 5,298 shares of the industrial products company's stock worth $967,000 after purchasing an additional 971 shares during the last quarter. CWM LLC boosted its stake in shares of Packaging Co. of America by 88.2% during the 2nd quarter. CWM LLC now owns 5,184 shares of the industrial products company's stock valued at $946,000 after buying an additional 2,430 shares during the last quarter. Finally, BDF Gestion acquired a new stake in shares of Packaging Co. of America during the second quarter worth approximately $2,225,000. Hedge funds and other institutional investors own 89.78% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on PKG. Truist Financial reaffirmed a "buy" rating and issued a $252.00 price target (up from $242.00) on shares of Packaging Co. of America in a report on Thursday, October 24th. Citigroup increased their price target on shares of 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. StockNews.com upgraded Packaging Co. of America from a "hold" rating to a "buy" rating in a report on Tuesday. Finally, Wells Fargo & Company raised their price objective on Packaging Co. of America from $235.00 to $253.00 and gave the stock an "overweight" rating in a research note on Thursday, October 24th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $221.60.

Packaging Co. of America Stock Performance

Shares of PKG traded down $1.48 during midday trading on Friday, hitting $242.86. 604,119 shares of the stock traded hands, compared to its average volume of 600,623. Packaging Co. of America has a 1-year low of $159.57 and a 1-year high of $250.82. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.98 and a current ratio of 2.95. The firm has a market capitalization of $21.81 billion, a PE ratio of 28.33, a price-to-earnings-growth ratio of 3.43 and a beta of 0.77. The business's 50 day moving average price is $230.58 and its two-hundred day moving average price is $206.35.

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

Insiders Place Their Bets

In other Packaging Co. of America news, SVP Donald R. Shirley sold 8,000 shares of the company's stock in a transaction 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 transaction, the senior vice president now owns 15,725 shares of the company's stock, valued at approximately $3,777,145. This represents a 33.72 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Joseph Vaughn sold 2,300 shares of the stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $244.89, for a total value of $563,247.00. Following the sale, the senior vice president now owns 9,197 shares of the company's stock, valued at $2,252,253.33. This trade represents a 20.01 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 33,300 shares of company stock worth $8,064,152 over the last ninety days. Company insiders own 1.60% of the company's stock.

Packaging Co. of America 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.