Victory Capital Management Inc. Sells 538,226 Shares of Packaging Co. of America (NYSE:PKG)

Victory Capital Management Inc. trimmed its position in Packaging Co. of America (NYSE:PKG - Free Report) by 25.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,593,721 shares of the industrial products company's stock after selling 538,226 shares during the quarter. Victory Capital Management Inc. owned 1.77% of Packaging Co. of America worth $358,794,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of PKG. Larson Financial Group LLC raised its stake in shares of Packaging Co. of America by 234.7% in the third quarter. Larson Financial Group LLC now owns 164 shares of the industrial products company's stock valued at $35,000 after purchasing an additional 115 shares in the last quarter. Fortitude Family Office LLC raised its stake in shares of 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 valued at $37,000 after purchasing an additional 98 shares in the last quarter. Centricity Wealth Management LLC acquired a new position in shares of Packaging Co. of America in the fourth quarter valued at $44,000. Golden State Wealth Management LLC acquired a new position in shares of Packaging Co. of America in the fourth quarter valued at $48,000. Finally, Assetmark Inc. raised its stake in shares of Packaging Co. of America by 44.6% in the third quarter. Assetmark Inc. now owns 269 shares of the industrial products company's stock valued at $58,000 after purchasing an additional 83 shares in the last quarter. 89.78% of the stock is currently owned by institutional investors and hedge funds.

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Packaging Co. of America Price Performance

NYSE:PKG traded up $3.02 during trading hours on Friday, reaching $206.82. The company had a trading volume of 805,510 shares, compared to its average volume of 922,289. The stock has a 50-day moving average of $220.32 and a two-hundred day moving average of $222.69. The company has a quick ratio of 1.98, a current ratio of 2.95 and a debt-to-equity ratio of 0.58. The firm has a market capitalization 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 one year low of $169.00 and a one year high of $250.82.

Packaging Co. of America (NYSE:PKG - Get Free Report) last announced its earnings results on Tuesday, January 28th. The industrial products company reported $2.47 EPS for the quarter, missing the consensus estimate 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 forecast 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. Stockholders of record on Friday, March 14th will be issued a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a dividend yield of 2.42%. The ex-dividend date is Friday, March 14th. Packaging Co. of America's payout ratio is presently 55.99%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Jefferies Financial Group upgraded Packaging Co. of America from a "hold" rating to a "buy" rating and upped their target price for the company from $215.00 to $280.00 in a research note on Wednesday, December 18th. 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 research report on Thursday, January 30th. 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. Truist Financial reiterated a "buy" rating and issued a $265.00 price target (down from $282.00) on shares of Packaging Co. of America in a research report on Thursday, January 30th. Finally, Citigroup upped their price target on Packaging Co. of America from $232.00 to $235.00 and gave the company a "neutral" rating in a research report on Monday, January 6th. Two research 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. Based on data from MarketBeat, Packaging Co. of America currently has a consensus rating of "Moderate Buy" and an average target price of $233.00.

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.