Atria Investments Inc Sells 3,507 Shares of Packaging Co. of America (NYSE:PKG)

Atria Investments Inc cut its holdings in shares of Packaging Co. of America (NYSE:PKG) by 28.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,638 shares of the industrial products company’s stock after selling 3,507 shares during the quarter. Atria Investments Inc’s holdings in Packaging Co. of America were worth $1,945,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the business. State Street Corp increased its holdings in shares of Packaging Co. of America by 3.2% during the third quarter. State Street Corp now owns 3,948,546 shares of the industrial products company’s stock worth $855,212,000 after purchasing an additional 123,050 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in shares of Packaging Co. of America by 4.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,069,949 shares of the industrial products company’s stock worth $691,138,000 after purchasing an additional 132,836 shares during the period. Geode Capital Management LLC increased its holdings in shares of Packaging Co. of America by 0.6% during the third quarter. Geode Capital Management LLC now owns 2,337,296 shares of the industrial products company’s stock worth $501,896,000 after purchasing an additional 12,936 shares during the period. FMR LLC increased its holdings in shares of Packaging Co. of America by 3.4% during the third quarter. FMR LLC now owns 1,076,350 shares of the industrial products company’s stock worth $231,846,000 after purchasing an additional 35,827 shares during the period. Finally, Stifel Financial Corp increased its holdings in shares of Packaging Co. of America by 1,462.2% during the third quarter. Stifel Financial Corp now owns 573,073 shares of the industrial products company’s stock worth $123,440,000 after purchasing an additional 536,389 shares during the period. 89.78% of the stock is owned by institutional investors.

Analysts Set New Price Targets

PKG has been the topic of a number of recent analyst reports. Jefferies Financial Group raised shares of Packaging Co. of America from a “hold” rating to a “buy” rating and lifted their price objective for the company from $215.00 to $280.00 in a research note on Wednesday, December 18th. Seaport Res Ptn raised shares of Packaging Co. of America from a “hold” rating to a “strong-buy” rating in a research note on Thursday, February 13th. StockNews.com raised shares of Packaging Co. of America from a “hold” rating to a “buy” rating in a research note on Wednesday, February 26th. Truist Financial reissued a “buy” rating and issued a $265.00 price objective (down from $282.00) on shares of Packaging Co. of America in a research note on Thursday, January 30th. Finally, Citigroup lifted their price objective on shares of Packaging Co. of America from $232.00 to $235.00 and gave the company a “neutral” rating in a research note on Monday, January 6th. Two analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $233.00.

Packaging Co. of America Stock Performance

NYSE PKG opened at $206.82 on Monday. The firm’s fifty day moving average price is $219.91 and its two-hundred day moving average price is $223.09. The stock has a market cap of $18.57 billion, a PE ratio of 23.16, a PEG ratio of 2.41 and a beta of 0.77. Packaging Co. of America has a fifty-two week low of $169.00 and a fifty-two week high of $250.82. 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) last posted its earnings results on Tuesday, January 28th. The industrial products company reported $2.47 earnings per share for the quarter, missing analysts’ consensus estimates of $2.51 by ($0.04). Packaging Co. of America had a return on equity of 19.67% and a net margin of 9.60%. On average, equities analysts expect 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, April 15th. Stockholders of record on Friday, March 14th will be issued a dividend of $1.25 per share. The ex-dividend date is Friday, March 14th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.42%. Packaging Co. of America’s dividend payout ratio (DPR) is presently 55.99%.

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.