OneDigital Investment Advisors LLC Sells 3,314 Shares of Packaging Corporation of America (NYSE:PKG)

OneDigital Investment Advisors LLC reduced its holdings in Packaging Corporation of America (NYSE:PKG) by 71.9% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,294 shares of the industrial products company’s stock after selling 3,314 shares during the quarter. OneDigital Investment Advisors LLC’s holdings in Packaging Corporation of America were worth $256,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the business. Vanguard Group Inc. increased its holdings in shares of Packaging Corporation of America by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 11,423,715 shares of the industrial products company’s stock worth $2,571,821,000 after acquiring an additional 133,575 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Packaging Corporation of America by 1.3% during the fourth quarter. Geode Capital Management LLC now owns 2,366,723 shares of the industrial products company’s stock worth $531,540,000 after buying an additional 29,427 shares during the period. Invesco Ltd. boosted its position in shares of Packaging Corporation of America by 0.8% during the fourth quarter. Invesco Ltd. now owns 1,853,092 shares of the industrial products company’s stock worth $417,187,000 after buying an additional 14,775 shares during the period. Boston Partners boosted its position in shares of Packaging Corporation of America by 7.0% during the fourth quarter. Boston Partners now owns 1,565,351 shares of the industrial products company’s stock worth $352,305,000 after buying an additional 101,755 shares during the period. Finally, Norges Bank acquired a new position in shares of Packaging Corporation of America during the fourth quarter worth about $258,928,000. 89.78% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on PKG. Truist Financial upped their price objective on Packaging Corporation of America from $237.00 to $239.00 and gave the stock a “buy” rating in a research report on Tuesday, June 17th. Jefferies Financial Group cut Packaging Corporation of America from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $245.00 to $205.00 in a research report on Monday, June 16th. UBS Group upped their price objective on Packaging Corporation of America from $200.00 to $210.00 and gave the stock a “neutral” rating in a research report on Wednesday. Wall Street Zen cut Packaging Corporation of America from a “buy” rating to a “hold” rating in a research report on Sunday, April 6th. Finally, Wells Fargo & Company increased their price target on Packaging Corporation of America from $180.00 to $200.00 and gave the company an “equal weight” rating in a research report on Thursday. Five analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $217.80.

Packaging Corporation of America Stock Performance

Shares of NYSE PKG opened at $205.90 on Friday. The stock has a 50 day moving average price of $192.48 and a 200 day moving average price of $202.02. Packaging Corporation of America has a 52 week low of $172.72 and a 52 week high of $250.82. The company has a debt-to-equity ratio of 0.55, a quick ratio of 2.15 and a current ratio of 3.28. The stock has a market capitalization of $18.53 billion, a PE ratio of 21.54, a price-to-earnings-growth ratio of 2.72 and a beta of 0.82.

Packaging Corporation of America (NYSE:PKG) last issued its quarterly earnings results on Tuesday, April 22nd. The industrial products company reported $2.31 EPS for the quarter, beating the consensus estimate of $2.21 by $0.10. Packaging Corporation of America had a return on equity of 20.08% and a net margin of 10.09%. The firm had revenue of $2.14 billion during the quarter, compared to analysts’ expectations of $2.12 billion. Analysts predict that Packaging Corporation of America will post 10.44 earnings per share for the current fiscal year.

Packaging Corporation of America Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Friday, June 13th will be given a $1.25 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.43%. Packaging Corporation of America’s payout ratio is 52.30%.

Packaging Corporation of America 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.