Polar Asset Management Partners Inc. Decreases Stock Position in Packaging Co. of America (NYSE:PKG)

Polar Asset Management Partners Inc. reduced its position in shares of Packaging Co. of America (NYSE:PKG - Free Report) by 42.4% during the fourth quarter, according to the company in its most recent 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 quarter. Polar Asset Management Partners Inc.'s holdings in Packaging Co. of America were worth $2,994,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Centricity Wealth Management LLC purchased a new stake in shares of Packaging Co. of America in the fourth quarter worth approximately $44,000. Lazard Asset Management LLC raised its stake in shares of Packaging Co. of America by 1,033.3% in 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 during the last quarter. Golden State Wealth Management LLC purchased a new stake in shares of Packaging Co. of America in the fourth quarter worth approximately $48,000. Rialto Wealth Management LLC purchased a new stake in shares of Packaging Co. of America in the fourth quarter worth approximately $63,000. Finally, Intact Investment Management Inc. purchased a new stake in shares of Packaging Co. of America in the fourth quarter worth approximately $68,000. 89.78% of the stock is owned by institutional investors and hedge funds.

Packaging Co. of America Stock Performance

Shares of PKG traded up $0.10 on Thursday, reaching $190.89. 151,725 shares of the company's stock traded hands, compared to its average volume of 714,760. 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 stock has a market cap of $17.18 billion, a PE ratio of 21.38, a PEG ratio of 2.41 and a beta of 0.85. The stock's 50 day simple moving average is $189.45 and its two-hundred day simple moving average is $213.70. Packaging Co. of America has a 52-week low of $172.72 and a 52-week high of $250.82.

Packaging Co. of America (NYSE:PKG - Get Free Report) last released its earnings results on Tuesday, April 22nd. The industrial products company reported $2.31 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.21 by $0.10. Packaging Co. of America had a return on equity of 19.67% and a net margin of 9.60%. The business had revenue of $2.14 billion during the quarter, compared to the consensus estimate of $2.12 billion. On average, analysts forecast that Packaging Co. of America will post 10.44 earnings per share for the current fiscal year.

Packaging Co. of America Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Friday, June 13th will be given a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a yield of 2.62%. The ex-dividend date is Friday, June 13th. Packaging Co. of America's dividend payout ratio is currently 52.30%.

Analysts Set New Price Targets

Several analysts have recently commented on PKG shares. Wall Street Zen downgraded Packaging Co. of America from a "buy" rating to a "hold" rating in a research note on Sunday, April 6th. 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. Wells Fargo & Company reaffirmed an "equal weight" rating and set a $180.00 price target (down from $205.00) on shares of Packaging Co. of America in a research report on Friday, May 9th. 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 research report on Tuesday, April 22nd. Three investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $226.60.

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.