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

Atria Investments Inc decreased its stake in shares of Packaging Co. of America (NYSE:PKG - Free Report) by 28.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,638 shares of the industrial products company's stock after selling 3,507 shares during the period. Atria Investments Inc's holdings in Packaging Co. of America were worth $1,945,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the stock. Fortitude Family Office LLC boosted its position in Packaging Co. of America by 150.8% in the fourth quarter. Fortitude Family Office LLC now owns 163 shares of the industrial products company's stock worth $37,000 after purchasing an additional 98 shares during the last quarter. Larson Financial Group LLC lifted its holdings in Packaging Co. of America by 234.7% during the 3rd quarter. Larson Financial Group LLC now owns 164 shares of the industrial products company's stock worth $35,000 after purchasing an additional 115 shares in the last quarter. Centricity Wealth Management LLC purchased a new stake in Packaging Co. of America during the 4th quarter worth about $44,000. Golden State Wealth Management LLC purchased a new stake in Packaging Co. of America during the 4th quarter worth about $48,000. Finally, Assetmark Inc. raised its holdings in shares of Packaging Co. of America by 44.6% in the 3rd quarter. Assetmark Inc. now owns 269 shares of the industrial products company's stock valued at $58,000 after acquiring an additional 83 shares in the last quarter. Hedge funds and other institutional investors own 89.78% of the company's stock.

Packaging Co. of America Stock Down 0.0 %

NYSE:PKG traded down $0.10 during trading hours on Wednesday, reaching $197.35. 686,739 shares of the company traded hands, compared to its average volume of 616,163. The business's 50-day moving average price is $218.29 and its two-hundred day moving average price is $222.85. The stock has a market capitalization of $17.72 billion, a P/E ratio of 22.10, a P/E/G ratio of 2.41 and a beta of 0.77. Packaging Co. of America has a 1 year low of $169.00 and a 1 year high of $250.82. The company has a current ratio of 2.95, a quick ratio of 1.98 and a debt-to-equity ratio of 0.58.

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Packaging Co. of America (NYSE:PKG - Get Free Report) last posted its earnings results on Tuesday, January 28th. The industrial products company reported $2.47 EPS 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%. Analysts predict that Packaging Co. of America will post 10.44 earnings per share for the current year.

Packaging Co. of America Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Friday, March 14th will be issued a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.53%. The ex-dividend date is Friday, March 14th. Packaging Co. of America's payout ratio is 55.99%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on PKG. Wells Fargo & Company lowered their price target on Packaging Co. of America from $253.00 to $236.00 and set an "overweight" rating on the stock in a report on Thursday, January 30th. Jefferies Financial Group upgraded Packaging Co. of America from a "hold" rating to a "buy" rating and raised their price target for the stock from $215.00 to $280.00 in a research report on Wednesday, December 18th. Citigroup raised their price target on Packaging Co. of America from $232.00 to $235.00 and gave the stock a "neutral" rating in a research report on Monday, January 6th. Seaport Res Ptn upgraded Packaging Co. of America from a "hold" rating to a "strong-buy" rating in a research report on Thursday, February 13th. Finally, Truist Financial reiterated a "buy" rating and issued a $265.00 price objective (down from $282.00) on shares of Packaging Co. of America in a research report on Thursday, January 30th. Two equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Packaging Co. of America currently has a consensus rating of "Moderate Buy" and a consensus price target of $233.00.

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.