Packaging Co. of America (NYSE:PKG) Shares Sold by Polar Asset Management Partners Inc.

Polar Asset Management Partners Inc. lessened its holdings in Packaging Co. of America (NYSE:PKG - Free Report) by 12.8% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 23,100 shares of the industrial products company's stock after selling 3,400 shares during the period. Polar Asset Management Partners Inc.'s holdings in Packaging Co. of America were worth $4,976,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Deseret Mutual Benefit Administrators lifted its holdings in Packaging Co. of America by 15.2% during the third quarter. Deseret Mutual Benefit Administrators now owns 371 shares of the industrial products company's stock valued at $80,000 after purchasing an additional 49 shares in the last quarter. Coldstream Capital Management Inc. boosted its holdings in Packaging Co. of America by 1.4% in the 2nd quarter. Coldstream Capital Management Inc. now owns 3,859 shares of the industrial products company's stock worth $704,000 after buying an additional 54 shares during the period. Huntington National Bank increased its stake in Packaging Co. of America by 0.5% in the 3rd quarter. Huntington National Bank now owns 10,075 shares of the industrial products company's stock worth $2,170,000 after buying an additional 55 shares in the last quarter. Daiwa Securities Group Inc. raised its holdings in Packaging Co. of America by 0.6% during the second quarter. Daiwa Securities Group Inc. now owns 9,713 shares of the industrial products company's stock valued at $1,773,000 after acquiring an additional 56 shares during the period. Finally, Moors & Cabot Inc. lifted its position in shares of Packaging Co. of America by 2.1% in the second quarter. Moors & Cabot Inc. now owns 2,689 shares of the industrial products company's stock valued at $491,000 after acquiring an additional 56 shares in the last quarter. Hedge funds and other institutional investors own 89.78% of the company's stock.

Packaging Co. of America Stock Up 0.1 %

Shares of PKG traded up $0.26 during trading hours on Thursday, hitting $244.25. The company had a trading volume of 723,365 shares, compared to its average volume of 600,609. The company has a current ratio of 2.95, a quick ratio of 1.98 and a debt-to-equity ratio of 0.58. The company has a market capitalization of $21.94 billion, a PE ratio of 28.44, a price-to-earnings-growth ratio of 3.43 and a beta of 0.77. Packaging Co. of America has a one year low of $159.57 and a one year high of $250.82. The company's fifty day moving average price is $229.99 and its two-hundred day moving average price is $206.09.

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 EPS for the quarter, beating analysts' consensus estimates 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 quarter in the prior year, the company posted $2.05 earnings per share. Packaging Co. of America's revenue for the quarter 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 fiscal year.

Insiders Place Their Bets

In related news, SVP Joseph Vaughn sold 2,300 shares of the company's stock in a transaction that occurred on Tuesday, December 3rd. The stock was 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 in the company, valued at $2,252,253.33. This represents a 20.01 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Robert P. Mundy sold 12,500 shares of Packaging Co. of America stock in a transaction that occurred 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 sale, the chief financial officer now 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 disclosure for this sale can be found here. Over the last quarter, insiders sold 33,300 shares of company stock valued at $8,064,152. Insiders own 1.60% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on PKG. Truist Financial restated a "buy" rating and set a $252.00 price objective (up previously from $242.00) on shares of Packaging Co. of America in a research report on Thursday, October 24th. StockNews.com upgraded Packaging Co. of America from a "hold" rating to a "buy" rating in a report on Tuesday. Wells Fargo & Company upped their price objective on Packaging Co. of America from $235.00 to $253.00 and gave the stock an "overweight" rating in a report on Thursday, October 24th. Finally, Citigroup raised 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. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $221.60.

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.