Packaging Co. of America (NYSE:PKG) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. trimmed its holdings in Packaging Co. of America (NYSE:PKG) by 25.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,131,947 shares of the industrial products company’s stock after selling 721,470 shares during the quarter. Packaging Co. of America makes up about 0.4% of Victory Capital Management Inc.’s holdings, making the stock its 29th biggest position. Victory Capital Management Inc. owned 2.37% of Packaging Co. of America worth $459,221,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of PKG. Aigen Investment Management LP acquired a new stake in Packaging Co. of America during the 3rd quarter valued at $529,000. Sumitomo Mitsui Trust Group Inc. lifted its position in Packaging Co. of America by 1.0% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 229,989 shares of the industrial products company’s stock worth $49,540,000 after buying an additional 2,325 shares during the period. Apollon Wealth Management LLC increased its stake in shares of Packaging Co. of America by 24.1% during the 3rd quarter. Apollon Wealth Management LLC now owns 1,386 shares of the industrial products company’s stock valued at $298,000 after acquiring an additional 269 shares during the last quarter. Jeppson Wealth Management LLC acquired a new stake in shares of Packaging Co. of America during the 3rd quarter worth $210,000. Finally, Core Wealth Partners LLC acquired a new stake in Packaging Co. of America during the third quarter worth about $215,000. Hedge funds and other institutional investors own 89.78% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on PKG shares. Wells Fargo & Company increased their price target on Packaging Co. of America from $235.00 to $253.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. Citigroup upped their price objective on Packaging Co. of America from $199.00 to $221.00 and gave the company a “neutral” rating in a research note on Wednesday, October 2nd. Truist Financial reissued a “buy” rating and issued a $252.00 price target (up previously from $242.00) on shares of Packaging Co. of America in a report on Thursday, October 24th. Finally, StockNews.com lowered shares of Packaging Co. of America from a “buy” rating to a “hold” rating in a research note on Friday, November 1st. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $221.60.

Packaging Co. of America Trading Down 0.5 %

PKG traded down $1.12 during mid-day trading on Tuesday, reaching $240.37. The stock had a trading volume of 66,478 shares, compared to its average volume of 598,904. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.71 and a current ratio of 2.43. Packaging Co. of America has a 52 week low of $148.50 and a 52 week high of $245.00. The stock has a market capitalization of $21.59 billion, a P/E ratio of 28.15, a P/E/G ratio of 3.40 and a beta of 0.76. The firm’s fifty day simple moving average is $218.57 and its two-hundred day simple moving average is $198.53.

Packaging Co. of America (NYSE:PKG) last released its earnings results on Tuesday, October 22nd. The industrial products company reported $2.65 EPS for the quarter, topping analysts’ consensus estimates of $2.50 by $0.15. The firm had revenue of $2.18 billion during the quarter, compared to analyst estimates of $2.09 billion. Packaging Co. of America had a net margin of 9.46% and a return on equity of 19.35%. The business’s quarterly revenue was up 14.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.05 EPS. On average, equities analysts predict that Packaging Co. of America will post 9.07 EPS for the current year.

Packaging Co. of America Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Tuesday, October 15th were given a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.08%. The ex-dividend date was Monday, September 16th. Packaging Co. of America’s dividend payout ratio (DPR) is presently 58.28%.

Packaging Co. of America Profile

Packaging Corporation of America manufactures and sells containerboard and corrugated packaging products in the United States. The company operates through three segments: Packaging, Paper, and Corporate and Other. The Packaging segment offers various containerboard and corrugated packaging products, such as conventional shipping containers used to protect and transport manufactured goods; multi-color boxes and displays that help to merchandise the packaged product in retail locations; and honeycomb protective packaging products, as well as packaging for meat, fresh fruit and vegetables, processed food, beverages, and other industrial and consumer products.