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

Polar Asset Management Partners Inc. reduced its position in Packaging Co. of America (NYSE:PKG - Free Report) by 42.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,300 shares of the industrial products company's stock after selling 9,800 shares during the period. Polar Asset Management Partners Inc.'s holdings in Packaging Co. of America were worth $2,994,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Jackson Creek Investment Advisors LLC purchased a new stake in shares of Packaging Co. of America during the 4th quarter worth about $293,000. AlphaQuest LLC grew its holdings in shares of Packaging Co. of America by 25.3% during the 4th quarter. AlphaQuest LLC now owns 9,683 shares of the industrial products company's stock worth $2,180,000 after purchasing an additional 1,954 shares during the period. Distillate Capital Partners LLC purchased a new stake in shares of Packaging Co. of America during the 4th quarter worth about $15,828,000. Strategic Financial Concepts LLC purchased a new stake in shares of Packaging Co. of America during the 4th quarter worth about $6,966,000. Finally, Sciencast Management LP purchased a new stake in shares of Packaging Co. of America during the 4th quarter worth about $2,853,000. Hedge funds and other institutional investors own 89.78% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Wells Fargo & Company reiterated an "equal weight" rating and set a $180.00 target price (down previously from $205.00) on shares of Packaging Co. of America in a report on Friday, May 9th. Seaport Res Ptn upgraded Packaging Co. of America from a "hold" rating to a "strong-buy" rating in a report on Thursday, February 13th. Wall Street Zen cut Packaging Co. of America from a "buy" rating to a "hold" rating in a report on Sunday, April 6th. Finally, Truist Financial decreased their price target on Packaging Co. of America from $265.00 to $238.00 and set a "buy" rating for the company in a report on Tuesday, April 22nd. Three research analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $226.60.

Packaging Co. of America Stock Up 0.0%

NYSE PKG traded up $0.02 on Friday, reaching $193.02. The company had a trading volume of 1,062,503 shares, compared to its average volume of 723,442. The firm has a market capitalization of $17.37 billion, a PE ratio of 21.61, a P/E/G ratio of 2.41 and a beta of 0.85. Packaging Co. of America has a 1 year low of $172.72 and a 1 year high of $250.82. The firm has a 50-day moving average of $188.67 and a 200-day moving average of $211.30. 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 (NYSE:PKG - Get Free Report) last released its quarterly earnings results on Tuesday, April 22nd. The industrial products company reported $2.31 earnings per share for the quarter, topping analysts' consensus estimates of $2.21 by $0.10. The firm had revenue of $2.14 billion during the quarter, compared to analysts' expectations of $2.12 billion. Packaging Co. of America had a return on equity of 19.67% and a net margin of 9.60%. On average, equities research analysts anticipate that Packaging Co. of America will post 10.44 EPS for the current fiscal year.

Packaging Co. of America Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Friday, June 13th will be paid a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a dividend yield of 2.59%. The ex-dividend date is Friday, June 13th. Packaging Co. of America's dividend payout ratio (DPR) is currently 52.30%.

About Packaging Co. of America

Packaging Corporation of America engages in the production of container products. It operates through the following segments: Packaging, Paper, and Corporate and Other. The Packaging segment offers a variety of corrugated packaging products, such as conventional shipping containers. The Paper segment manufactures and sells a range of papers, including communication-based papers, and pressure sensitive papers.