Packaging Co. of America (NYSE:PKG) Shares Acquired by Edgestream Partners L.P.

Edgestream Partners L.P. boosted its holdings in Packaging Co. of America (NYSE:PKG - Free Report) by 156.4% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 24,608 shares of the industrial products company's stock after acquiring an additional 15,009 shares during the quarter. Edgestream Partners L.P.'s holdings in Packaging Co. of America were worth $5,301,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of PKG. Asset Dedication LLC increased its holdings in shares of Packaging Co. of America by 200.0% in the 2nd quarter. Asset Dedication LLC now owns 168 shares of the industrial products company's stock valued at $31,000 after purchasing an additional 112 shares in the last quarter. Central Pacific Bank Trust Division purchased a new position in Packaging Co. of America in the third 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 valued at approximately $33,000. Larson Financial Group LLC boosted its stake in shares of Packaging Co. of America by 234.7% during the 3rd quarter. Larson Financial Group LLC now owns 164 shares of the industrial products company's stock worth $35,000 after acquiring an additional 115 shares in the last quarter. Finally, Strategic Financial Concepts LLC acquired a new stake in shares of Packaging Co. of America in the 2nd quarter worth approximately $50,000. Institutional investors and hedge funds own 89.78% of the company's stock.

Wall Street Analysts Forecast Growth

PKG has been the subject of several research reports. Truist Financial reaffirmed a "buy" rating and set a $252.00 price target (up previously from $242.00) on shares of Packaging Co. of America in a research note on Thursday, October 24th. Wells Fargo & Company lifted their target price on shares of 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. Citigroup increased their price target 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. Finally, StockNews.com downgraded Packaging Co. of America from a "buy" rating to a "hold" rating in a research report on Wednesday, November 20th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $221.60.

Packaging Co. of America Stock Up 0.7 %

NYSE PKG traded up $1.82 during trading hours on Friday, hitting $248.85. The company had a trading volume of 332,444 shares, compared to its average volume of 600,299. The firm's 50 day moving average is $228.21 and its 200 day moving average is $204.79. 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 fifty-two week low of $159.57 and a fifty-two week high of $250.82. The company has a market capitalization of $22.35 billion, a price-to-earnings ratio of 29.00, a P/E/G ratio of 3.49 and a beta of 0.76.

Packaging Co. of America (NYSE:PKG - Get Free Report) last posted its earnings results on Tuesday, October 22nd. The industrial products company reported $2.65 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.50 by $0.15. The business had revenue of $2.18 billion during 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 revenue for the quarter was up 14.9% compared to the same quarter last year. During the same quarter last year, the firm earned $2.05 earnings per share. Sell-side analysts anticipate that Packaging Co. of America will post 9.07 earnings per share for the current fiscal year.

Insider Buying and Selling at Packaging Co. of America

In other 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 transaction of $3,007,750.00. Following the sale, the chief financial officer now directly owns 43,954 shares of the company's stock, valued at approximately $10,576,211.48. The trade was a 22.14 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Donald R. Shirley sold 8,000 shares of the business's stock in a transaction dated 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 completion of the transaction, the senior vice president now owns 15,725 shares in the company, valued at approximately $3,777,145. This trade represents a 33.72 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 31,000 shares of company stock valued at $7,500,905 over the last 90 days. 1.60% of the stock is owned by corporate 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.