Fmr LLC Purchases 35,827 Shares of Packaging Co. of America (NYSE:PKG)

FMR LLC increased its stake in Packaging Co. of America (NYSE:PKG - Free Report) by 3.4% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,076,350 shares of the industrial products company's stock after acquiring an additional 35,827 shares during the period. FMR LLC owned about 1.20% of Packaging Co. of America worth $231,846,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in PKG. Asset Dedication LLC raised its stake 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 valued at $31,000 after acquiring an additional 112 shares during the last quarter. Central Pacific Bank Trust Division bought a new position in Packaging Co. of America during the 3rd quarter valued at approximately $32,000. Tortoise Investment Management LLC purchased a new stake in Packaging Co. of America in the 2nd quarter worth approximately $33,000. Larson Financial Group LLC grew its position in shares of 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 worth $35,000 after buying an additional 115 shares during the last quarter. Finally, Strategic Financial Concepts LLC bought a new stake in shares of Packaging Co. of America in the 2nd quarter worth approximately $50,000. Institutional investors own 89.78% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. 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. Truist Financial restated a "buy" rating and issued a $252.00 target price (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 shares of Packaging Co. of America from $199.00 to $221.00 and gave the company a "neutral" rating in a report on Wednesday, October 2nd. Finally, Wells Fargo & Company raised their target price on shares of Packaging Co. of America from $235.00 to $253.00 and gave the company an "overweight" rating in a research note on Thursday, October 24th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $221.60.

Packaging Co. of America Price Performance

NYSE:PKG traded down $0.40 on Tuesday, reaching $244.40. 121,682 shares of the company's stock traded hands, compared to its average volume of 599,044. The firm has a market cap of $21.95 billion, a PE ratio of 28.39, a P/E/G ratio of 3.49 and a beta of 0.77. The company has a quick ratio of 1.98, a current ratio of 2.95 and a debt-to-equity ratio of 0.58. The stock has a 50-day simple moving average of $228.82 and a 200-day simple moving average of $205.39. Packaging Co. of America has a 12 month low of $159.57 and a 12 month high of $250.82.

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 for the quarter, beating the consensus estimate of $2.50 by $0.15. Packaging Co. of America had a net margin of 9.46% and a return on equity of 19.10%. The company had revenue of $2.18 billion during the quarter, compared to analysts' expectations of $2.09 billion. During the same period last year, the company posted $2.05 earnings per share. Packaging Co. of America's quarterly revenue was up 14.9% on a year-over-year basis. Equities research analysts forecast that Packaging Co. of America will post 9.07 earnings per share for the current year.

Insider Buying and Selling

In other news, CFO Robert P. Mundy sold 12,500 shares of Packaging Co. of America stock in a transaction on 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 completion of the sale, the chief financial officer now directly owns 43,954 shares in the company, valued at approximately $10,576,211.48. This trade represents a 22.14 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Donald R. Shirley sold 8,000 shares of the firm's stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $240.20, for a total transaction of $1,921,600.00. Following the transaction, the senior vice president now directly owns 15,725 shares in the company, valued at approximately $3,777,145. This trade represents a 33.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 31,000 shares of company stock worth $7,500,905. Insiders own 1.70% of the company's stock.

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.