Cinctive Capital Management LP Takes Position in Packaging Co. of America (NYSE:PKG)

Cinctive Capital Management LP purchased a new position in Packaging Co. of America (NYSE:PKG - Free Report) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 5,121 shares of the industrial products company's stock, valued at approximately $1,103,000.

Other large investors also recently bought and sold shares of the company. Millennium Management LLC lifted its position in shares of Packaging Co. of America by 34.3% during the second quarter. Millennium Management LLC now owns 1,027,585 shares of the industrial products company's stock valued at $187,596,000 after buying an additional 262,315 shares during the last quarter. AQR Capital Management LLC lifted its holdings in Packaging Co. of America by 164.3% in the 2nd quarter. AQR Capital Management LLC now owns 401,360 shares of the industrial products company's stock valued at $73,272,000 after purchasing an additional 249,483 shares in the last quarter. International Assets Investment Management LLC lifted its holdings in Packaging Co. of America by 41,151.7% in the 3rd quarter. International Assets Investment Management LLC now owns 155,519 shares of the industrial products company's stock valued at $33,499,000 after purchasing an additional 155,142 shares in the last quarter. Mizuho Securities USA LLC increased its stake in shares of Packaging Co. of America by 1,800.2% in the 3rd quarter. Mizuho Securities USA LLC now owns 130,583 shares of the industrial products company's stock worth $28,128,000 after acquiring an additional 123,711 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Packaging Co. of America by 3.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,937,113 shares of the industrial products company's stock worth $632,654,000 after purchasing an additional 98,223 shares during the last quarter. Institutional investors own 89.78% of the company's stock.

Insider Buying and Selling at Packaging Co. of America

In other Packaging Co. of America news, CFO Robert P. Mundy sold 12,500 shares of Packaging Co. of America stock in a transaction dated 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 sale, the chief financial officer now owns 43,954 shares of the company's stock, valued at $10,576,211.48. This trade represents a 22.14 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, 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 completion of the transaction, the director now owns 8,881 shares of the company's stock, 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. In the last ninety days, insiders have sold 33,300 shares of company stock worth $8,064,152. Insiders own 1.70% of the company's stock.

Analyst Upgrades and Downgrades

PKG has been the subject of several recent research reports. Truist Financial reiterated a "buy" rating and issued a $252.00 price objective (up previously from $242.00) on shares of Packaging Co. of America in a research note on Thursday, October 24th. Citigroup boosted their target price 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. Wells Fargo & Company upped 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. Finally, StockNews.com upgraded Packaging Co. of America from a "hold" rating to a "buy" rating in a research report on Tuesday. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $221.60.

Packaging Co. of America Stock Down 0.0 %

Shares of PKG stock traded down $0.06 on Wednesday, reaching $243.99. 457,343 shares of the company's stock traded hands, compared to its average volume of 600,084. The business's 50 day moving average price is $229.40 and its two-hundred day moving average price is $205.82. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.98 and a current ratio of 2.95. Packaging Co. of America has a 12-month low of $159.57 and a 12-month high of $250.82. The company has a market capitalization of $21.91 billion, a P/E ratio of 28.25, a price-to-earnings-growth ratio of 3.44 and a beta of 0.77.

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

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.