Atria Wealth Solutions Inc. Sells 2,488 Shares of Packaging Corporation of America (NYSE:PKG)

Atria Wealth Solutions Inc. decreased its position in shares of Packaging Corporation of America (NYSE:PKG) by 34.8% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,659 shares of the industrial products company’s stock after selling 2,488 shares during the period. Atria Wealth Solutions Inc.’s holdings in Packaging Corporation of America were worth $926,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Clearstead Trust LLC grew its holdings in Packaging Corporation of America by 118.6% during the 1st quarter. Clearstead Trust LLC now owns 129 shares of the industrial products company’s stock valued at $26,000 after buying an additional 70 shares in the last quarter. TCTC Holdings LLC grew its holdings in Packaging Corporation of America by 86.4% during the 1st quarter. TCTC Holdings LLC now owns 151 shares of the industrial products company’s stock valued at $30,000 after buying an additional 70 shares in the last quarter. Alpine Bank Wealth Management purchased a new stake in Packaging Corporation of America during the 1st quarter valued at approximately $39,000. Banque Cantonale Vaudoise purchased a new stake in Packaging Corporation of America during the 1st quarter valued at approximately $40,000. Finally, Manchester Capital Management LLC grew its holdings in Packaging Corporation of America by 39.0% during the 1st quarter. Manchester Capital Management LLC now owns 203 shares of the industrial products company’s stock valued at $40,000 after buying an additional 57 shares in the last quarter. Institutional investors own 89.78% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on PKG shares. Jefferies Financial Group lowered shares of Packaging Corporation of America from a “buy” rating to a “hold” rating and cut their price objective for the company from $245.00 to $205.00 in a report on Monday, June 16th. UBS Group increased their price objective on shares of Packaging Corporation of America from $210.00 to $220.00 and gave the company a “neutral” rating in a report on Tuesday, July 29th. Citigroup increased their price objective on shares of Packaging Corporation of America from $197.00 to $214.00 and gave the company a “neutral” rating in a report on Friday, July 25th. Truist Financial cut their target price on shares of Packaging Corporation of America from $239.00 to $238.00 and set a “buy” rating for the company in a report on Friday, July 25th. Finally, Wells Fargo & Company raised their target price on shares of Packaging Corporation of America from $180.00 to $200.00 and gave the company an “equal weight” rating in a report on Thursday, July 10th. Five analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $215.40.

Packaging Corporation of America Price Performance

PKG opened at $196.55 on Tuesday. The business’s 50-day moving average is $196.73 and its two-hundred day moving average is $197.15. Packaging Corporation of America has a 1 year low of $172.71 and a 1 year high of $250.82. The company has a debt-to-equity ratio of 0.54, a current ratio of 3.54 and a quick ratio of 2.32. The firm has a market capitalization of $17.69 billion, a PE ratio of 19.62, a price-to-earnings-growth ratio of 2.31 and a beta of 0.85.

Packaging Corporation of America (NYSE:PKG) last issued its quarterly earnings results on Wednesday, July 23rd. The industrial products company reported $2.48 earnings per share for the quarter, topping analysts’ consensus estimates of $2.44 by $0.04. Packaging Corporation of America had a return on equity of 20.08% and a net margin of 10.47%. The business had revenue of $2.17 billion for the quarter, compared to analyst estimates of $2.18 billion. During the same quarter in the previous year, the firm earned $2.20 earnings per share. The company’s revenue was up 4.7% on a year-over-year basis. Research analysts anticipate that Packaging Corporation of America will post 10.44 earnings per share for the current fiscal year.

About Packaging Corporation 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.