Packaging Corporation of America (NYSE:PKG) Shares Sold by Independent Advisor Alliance

Independent Advisor Alliance lessened its stake in Packaging Corporation of America (NYSE:PKG) by 10.1% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,278 shares of the industrial products company’s stock after selling 143 shares during the quarter. Independent Advisor Alliance’s holdings in Packaging Corporation of America were worth $253,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in PKG. Clearstead Trust LLC boosted its holdings in shares of Packaging Corporation of America by 118.6% in the 1st quarter. Clearstead Trust LLC now owns 129 shares of the industrial products company’s stock valued at $26,000 after purchasing an additional 70 shares during the last quarter. TCTC Holdings LLC boosted its holdings in shares of Packaging Corporation of America by 86.4% in the 1st quarter. TCTC Holdings LLC now owns 151 shares of the industrial products company’s stock valued at $30,000 after purchasing an additional 70 shares during the last quarter. Alpine Bank Wealth Management acquired a new position in shares of Packaging Corporation of America in the 1st quarter valued at $39,000. Banque Cantonale Vaudoise acquired a new position in shares of Packaging Corporation of America in the 1st quarter valued at $40,000. Finally, Manchester Capital Management LLC boosted its holdings in shares of Packaging Corporation of America by 39.0% in the 1st quarter. Manchester Capital Management LLC now owns 203 shares of the industrial products company’s stock valued at $40,000 after purchasing an additional 57 shares during the last quarter. Institutional investors and hedge funds own 89.78% of the company’s stock.

Packaging Corporation of America Stock Down 1.6%

Shares of Packaging Corporation of America stock opened at $193.46 on Friday. The company has a fifty day moving average price of $196.95 and a 200 day moving average price of $196.58. The company has a current ratio of 3.54, a quick ratio of 2.32 and a debt-to-equity ratio of 0.54. Packaging Corporation of America has a twelve month low of $172.71 and a twelve month high of $250.82. The stock has a market cap of $17.41 billion, a price-to-earnings ratio of 19.31, a price-to-earnings-growth ratio of 2.31 and a beta of 0.85.

Packaging Corporation of America (NYSE:PKG) last announced 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 net margin of 10.47% and a return on equity of 20.08%. The firm had revenue of $2.17 billion during the quarter, compared to analysts’ expectations of $2.18 billion. During the same period in the prior year, the company earned $2.20 EPS. The firm’s revenue was up 4.7% on a year-over-year basis. Equities research analysts forecast that Packaging Corporation of America will post 10.44 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

PKG has been the topic of a number of research analyst reports. Truist Financial decreased their price target on shares of Packaging Corporation of America from $239.00 to $238.00 and set a “buy” rating on the stock in a report on Friday, July 25th. UBS Group lifted their price target 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 lifted their price target 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. Jefferies Financial Group lowered shares of Packaging Corporation of America from a “buy” rating to a “hold” rating and reduced their target price for the company from $245.00 to $205.00 in a report on Monday, June 16th. Finally, Wells Fargo & Company upped their price target on shares of Packaging Corporation of America from $180.00 to $200.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 10th. Five analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $215.40.

Packaging Corporation 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.