HighTower Advisors LLC Grows Position in Packaging Co. of America (NYSE:PKG)

HighTower Advisors LLC boosted its position in shares of Packaging Co. of America (NYSE:PKG - Free Report) by 1.6% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 222,551 shares of the industrial products company's stock after buying an additional 3,579 shares during the quarter. HighTower Advisors LLC owned 0.25% of Packaging Co. of America worth $47,941,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of PKG. Asset Dedication LLC increased its stake in 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 worth $31,000 after buying an additional 112 shares during the period. Central Pacific Bank Trust Division bought a new stake in Packaging Co. of America during the 3rd quarter valued at $32,000. Tortoise Investment Management LLC purchased a new stake in shares of Packaging Co. of America in the 2nd quarter worth $33,000. Larson Financial Group LLC grew its position 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 buying an additional 115 shares in the last quarter. Finally, Strategic Financial Concepts LLC purchased a new position in shares of Packaging Co. of America during the second quarter valued at $50,000. Institutional investors own 89.78% of the company's stock.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. Truist Financial reiterated a "buy" rating and set a $252.00 target price (up from $242.00) on shares of Packaging Co. of America in a report on Thursday, October 24th. Citigroup boosted their price objective on shares of Packaging Co. of America from $199.00 to $221.00 and gave the stock a "neutral" rating in a research note on Wednesday, October 2nd. StockNews.com raised Packaging Co. of America from a "hold" rating to a "buy" rating in a research report on Tuesday. Finally, Wells Fargo & Company boosted their price target 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. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $221.60.

Packaging Co. of America Stock Up 0.1 %

Shares of Packaging Co. of America stock traded up $0.26 during trading on Thursday, reaching $244.25. The company's stock had a trading volume of 723,365 shares, compared to its average volume of 600,609. 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 simple moving average of $229.99 and a two-hundred day simple moving average of $206.09. 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 company has a market cap of $21.94 billion, a price-to-earnings ratio of 28.44, 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 quarterly earnings results on Tuesday, October 22nd. The industrial products company reported $2.65 EPS for the quarter, beating 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 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 business posted $2.05 earnings per share. The firm's revenue was up 14.9% compared to the same quarter last year. As a group, equities analysts forecast that Packaging Co. of America will post 9.07 earnings per share for the current year.

Insider Buying and Selling at Packaging Co. of America

In other news, SVP Joseph Vaughn sold 2,300 shares of the company's 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 directly owns 9,197 shares of the company's stock, valued at $2,252,253.33. This represents a 20.01 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Robert P. Mundy sold 12,500 shares of the business's stock in a transaction on Friday, November 8th. The shares were sold at an average price of $240.62, for a total transaction of $3,007,750.00. Following the transaction, the chief financial officer now owns 43,954 shares of the company's stock, valued at $10,576,211.48. This represents a 22.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 33,300 shares of company stock worth $8,064,152. 1.60% of the stock is owned by corporate insiders.

About Packaging Co. of America

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.