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

Polar Asset Management Partners Inc. trimmed its position in shares of Packaging Co. of America (NYSE:PKG - Free Report) by 42.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm 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 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in the company. Centricity Wealth Management LLC purchased a new stake in Packaging Co. of America during the 4th quarter worth about $44,000. Lazard Asset Management LLC increased its position in shares of Packaging Co. of America by 1,033.3% during the fourth quarter. Lazard Asset Management LLC now owns 204 shares of the industrial products company's stock worth $45,000 after purchasing an additional 186 shares in the last quarter. Golden State Wealth Management LLC acquired a new stake in shares of Packaging Co. of America during the fourth quarter worth about $48,000. Rialto Wealth Management LLC purchased a new stake in shares of Packaging Co. of America in the 4th quarter valued at about $63,000. Finally, Ameriflex Group Inc. acquired a new stake in shares of Packaging Co. of America in the 4th quarter valued at about $64,000. Hedge funds and other institutional investors own 89.78% of the company's stock.

Analyst Ratings Changes

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

Packaging Co. of America Stock Performance

Shares of NYSE PKG traded up $0.58 during mid-day trading on Thursday, hitting $192.80. 810,184 shares of the company were exchanged, compared to its average volume of 720,497. The stock has a 50 day simple moving average of $188.93 and a 200-day simple moving average of $212.15. Packaging Co. of America has a 1-year low of $172.72 and a 1-year high of $250.82. 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 firm has a market cap of $17.35 billion, a price-to-earnings ratio of 21.59, a price-to-earnings-growth ratio of 2.41 and a beta of 0.85.

Packaging Co. of America (NYSE:PKG - Get Free Report) last announced its quarterly earnings data on Tuesday, April 22nd. The industrial products company reported $2.31 EPS for the quarter, topping analysts' consensus estimates of $2.21 by $0.10. The company had revenue of $2.14 billion during the quarter, compared to the consensus estimate of $2.12 billion. Packaging Co. of America had a net margin of 9.60% and a return on equity of 19.67%. On average, sell-side analysts forecast 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 declared a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Friday, June 13th will be issued a $1.25 dividend. The ex-dividend date is Friday, June 13th. This represents a $5.00 annualized dividend and a dividend yield of 2.59%. Packaging Co. of America's dividend payout ratio is currently 52.30%.

Packaging Co. of America Company Profile

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.