XTX Topco Ltd Sells 4,730 Shares of Packaging Co. of America (NYSE:PKG)

XTX Topco Ltd cut its stake in Packaging Co. of America (NYSE:PKG - Free Report) by 56.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,645 shares of the industrial products company's stock after selling 4,730 shares during the period. XTX Topco Ltd's holdings in Packaging Co. of America were worth $785,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in PKG. National Bank of Canada FI boosted its stake in Packaging Co. of America by 205.8% during the 3rd quarter. National Bank of Canada FI now owns 81,370 shares of the industrial products company's stock valued at $17,527,000 after purchasing an additional 54,765 shares during the period. Wellington Management Group LLP boosted its position in shares of Packaging Co. of America by 30.0% during the third quarter. Wellington Management Group LLP now owns 12,070 shares of the industrial products company's stock worth $2,600,000 after buying an additional 2,786 shares during the period. Worldquant Millennium Advisors LLC bought a new position in Packaging Co. of America in the 3rd quarter worth approximately $1,467,000. Wahed Invest LLC increased its position in Packaging Co. of America by 13.0% in the 3rd quarter. Wahed Invest LLC now owns 2,152 shares of the industrial products company's stock valued at $464,000 after acquiring an additional 247 shares during the period. Finally, Two Sigma Advisers LP raised its stake in Packaging Co. of America by 218.1% during the 3rd quarter. Two Sigma Advisers LP now owns 207,700 shares of the industrial products company's stock valued at $44,739,000 after acquiring an additional 142,400 shares in the last quarter. 89.78% of the stock is currently owned by institutional investors.

Packaging Co. of America Trading Up 0.2 %

Shares of NYSE:PKG traded up $0.45 during midday trading on Thursday, reaching $239.09. The company had a trading volume of 426,515 shares, compared to its average volume of 601,445. Packaging Co. of America has a 1-year low of $159.57 and a 1-year high of $250.82. The company has a fifty day simple moving average of $232.58 and a two-hundred day simple moving average of $208.15. The firm has a market cap of $21.47 billion, a price-to-earnings ratio of 27.81, a price-to-earnings-growth ratio of 3.41 and a beta of 0.77. 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 (NYSE:PKG - Get Free Report) last posted its quarterly earnings data on Tuesday, October 22nd. The industrial products company reported $2.65 EPS for the quarter, topping 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 firm had revenue of $2.18 billion during the quarter, compared to analyst estimates of $2.09 billion. During the same quarter last year, the business posted $2.05 EPS. The company's revenue was up 14.9% on a year-over-year basis. Research analysts predict that Packaging Co. of America will post 9.07 earnings per share for the current year.

Packaging Co. of America Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Friday, December 20th will be given a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a yield of 2.09%. The ex-dividend date of this dividend is Friday, December 20th. Packaging Co. of America's payout ratio is presently 58.28%.

Insider Activity

In other Packaging Co. of America news, SVP Joseph Vaughn sold 2,300 shares of the business's stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $244.89, for a total transaction of $563,247.00. Following the completion of the transaction, the senior vice president now owns 9,197 shares of the company's stock, valued at $2,252,253.33. The trade was a 20.01 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Robert P. Mundy sold 12,500 shares of the firm's stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $240.62, for a total value 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 $10,576,211.48. This trade represents a 22.14 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 33,300 shares of company stock worth $8,064,152. 1.60% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. StockNews.com raised Packaging Co. of America from a "hold" rating to a "buy" rating in a research note on Tuesday, December 3rd. Truist Financial reiterated 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 note on Thursday, October 24th. Wells Fargo & Company upped their target price 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. Finally, Citigroup lifted their price target on 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. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $221.60.

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.