Packaging Corporation of America (NYSE:PKG) Shares Sold by Atria Wealth Solutions Inc.

Atria Wealth Solutions Inc. cut its stake in Packaging Corporation of America (NYSE:PKG) by 34.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,659 shares of the industrial products company’s stock after selling 2,488 shares during the quarter. Atria Wealth Solutions Inc.’s holdings in Packaging Corporation of America were worth $926,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in PKG. Cerity Partners LLC raised its stake in shares of Packaging Corporation of America by 2.4% during the 4th quarter. Cerity Partners LLC now owns 16,211 shares of the industrial products company’s stock worth $3,613,000 after buying an additional 378 shares during the period. Raymond James Financial Inc. acquired a new position in shares of Packaging Corporation of America during the 4th quarter worth approximately $50,175,000. Bessemer Group Inc. raised its stake in shares of Packaging Corporation of America by 2.8% during the 4th quarter. Bessemer Group Inc. now owns 3,873 shares of the industrial products company’s stock worth $872,000 after buying an additional 105 shares during the period. Treasurer of the State of North Carolina raised its stake in shares of Packaging Corporation of America by 0.5% during the 4th quarter. Treasurer of the State of North Carolina now owns 40,025 shares of the industrial products company’s stock worth $9,011,000 after buying an additional 180 shares during the period. Finally, Sterling Capital Management LLC raised its stake in shares of Packaging Corporation of America by 54.5% during the 4th quarter. Sterling Capital Management LLC now owns 5,314 shares of the industrial products company’s stock worth $1,196,000 after buying an additional 1,874 shares during the period. 89.78% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PKG has been the subject of several recent research reports. UBS Group increased their price objective on Packaging Corporation of America from $210.00 to $220.00 and gave the company a “neutral” rating in a research note on Tuesday, July 29th. Wells Fargo & Company increased their price objective on Packaging Corporation of America from $180.00 to $200.00 and gave the company an “equal weight” rating in a research note on Thursday, July 10th. Truist Financial reduced their price objective on Packaging Corporation of America from $239.00 to $238.00 and set a “buy” rating for the company in a research note on Friday, July 25th. Citigroup increased their price objective on Packaging Corporation of America from $197.00 to $214.00 and gave the company a “neutral” rating in a research note on Friday, July 25th. Finally, Jefferies Financial Group downgraded Packaging Corporation of America from a “buy” rating to a “hold” rating and reduced their price objective for the company from $245.00 to $205.00 in a research note on Monday, June 16th. Five equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $215.40.

Packaging Corporation of America Price Performance

PKG opened at $196.55 on Tuesday. The stock’s 50-day moving average price is $196.73 and its 200 day moving average price is $197.15. Packaging Corporation of America has a 12-month low of $172.71 and a 12-month high of $250.82. The company has a current ratio of 3.54, a quick ratio of 2.32 and a debt-to-equity ratio of 0.54. The firm has a market cap of $17.69 billion, a price-to-earnings ratio of 19.62, a PEG ratio of 2.31 and a beta of 0.85.

Packaging Corporation of America (NYSE:PKG) last issued its earnings results on Wednesday, July 23rd. The industrial products company reported $2.48 earnings per share for the quarter, topping the consensus estimate of $2.44 by $0.04. Packaging Corporation of America had a return on equity of 20.08% and a net margin of 10.47%. The business had revenue of $2.17 billion for the quarter, compared to analyst estimates of $2.18 billion. During the same quarter last year, the company earned $2.20 EPS. The business’s quarterly revenue was up 4.7% on a year-over-year basis. As a group, sell-side analysts expect that Packaging Corporation of America will post 10.44 earnings per share for the current year.

About Packaging Corporation 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.