Packaging Corporation of America (NYSE:PKG) Shares Sold by Carolina Wealth Advisors LLC

Carolina Wealth Advisors LLC lessened its position in shares of Packaging Corporation of America (NYSE:PKG - Free Report) by 99.5% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 165 shares of the industrial products company's stock after selling 34,781 shares during the quarter. Carolina Wealth Advisors LLC's holdings in Packaging Corporation of America were worth $33,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. lifted its stake in Packaging Corporation of America by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 11,423,715 shares of the industrial products company's stock valued at $2,571,821,000 after buying an additional 133,575 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Packaging Corporation of America by 4.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,069,949 shares of the industrial products company's stock worth $691,138,000 after acquiring an additional 132,836 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Packaging Corporation of America by 1.3% in the fourth quarter. Geode Capital Management LLC now owns 2,366,723 shares of the industrial products company's stock valued at $531,540,000 after acquiring an additional 29,427 shares in the last quarter. Invesco Ltd. boosted its stake 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 valued at $417,187,000 after acquiring an additional 14,775 shares during the last quarter. Finally, Boston Partners increased its position in Packaging Corporation of America by 7.0% during the 4th quarter. Boston Partners now owns 1,565,351 shares of the industrial products company's stock worth $352,305,000 after purchasing an additional 101,755 shares in the last quarter. 89.78% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have issued reports on PKG. Wall Street Zen cut shares of Packaging Corporation of America from a "buy" rating to a "hold" rating in a research note on Sunday, April 6th. Wells Fargo & Company restated an "equal weight" rating and set a $180.00 target price (down previously from $205.00) on shares of Packaging Corporation of America in a research report on Friday, May 9th. Jefferies Financial Group cut shares of Packaging Corporation of America from a "buy" rating to a "hold" rating and lowered their target price for the stock from $245.00 to $205.00 in a research note on Monday, June 16th. Truist Financial increased their price target on Packaging Corporation of America from $237.00 to $239.00 and gave the stock a "buy" rating in a research note on Tuesday, June 17th. Finally, UBS Group began coverage on Packaging Corporation of America in a report on Wednesday, June 4th. They set a "neutral" rating and a $200.00 price objective on the stock. Five investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $211.80.

Packaging Corporation of America Trading Up 1.0%

Shares of PKG traded up $1.81 during mid-day trading on Friday, hitting $189.46. The company had a trading volume of 673,552 shares, compared to its average volume of 741,008. Packaging Corporation of America has a 1-year low of $172.72 and a 1-year high of $250.82. The business's 50-day simple moving average is $189.22 and its 200-day simple moving average is $204.32. The stock has a market cap of $17.05 billion, a PE ratio of 19.82, a P/E/G ratio of 2.48 and a beta of 0.84. The company has a quick ratio of 2.15, a current ratio of 3.28 and a debt-to-equity ratio of 0.55.

Packaging Corporation of America (NYSE:PKG - Get Free Report) last posted its quarterly earnings results on Tuesday, April 22nd. The industrial products company reported $2.31 earnings per share for the quarter, topping analysts' consensus estimates of $2.21 by $0.10. Packaging Corporation of America had a net margin of 10.09% and a return on equity of 20.08%. The company had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $2.12 billion. Sell-side analysts forecast that Packaging Corporation of America will post 10.44 earnings per share for the current year.

Packaging Corporation of America Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Friday, June 13th will be given a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a yield of 2.64%. The ex-dividend date is Friday, June 13th. Packaging Corporation of America's dividend payout ratio (DPR) is presently 52.30%.

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.