LPL Financial LLC Sells 5,707 Shares of Packaging Corporation of America (NYSE:PKG)

LPL Financial LLC reduced its position in Packaging Corporation of America (NYSE:PKG - Free Report) by 4.8% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 113,364 shares of the industrial products company's stock after selling 5,707 shares during the period. LPL Financial LLC owned 0.13% of Packaging Corporation of America worth $22,448,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of PKG. Alpine Bank Wealth Management bought a new position in Packaging Corporation of America in the 1st quarter worth $39,000. Lazard Asset Management LLC boosted its stake in Packaging Corporation of America by 1,033.3% during the fourth quarter. Lazard Asset Management LLC now owns 204 shares of the industrial products company's stock valued at $45,000 after buying an additional 186 shares during the last quarter. HM Payson & Co. lifted its position in Packaging Corporation of America by 54.8% in the first quarter. HM Payson & Co. now owns 240 shares of the industrial products company's stock worth $48,000 after buying an additional 85 shares during the last quarter. Ameriflex Group Inc. purchased a new stake in shares of Packaging Corporation of America in the fourth quarter valued at approximately $64,000. Finally, Exchange Traded Concepts LLC boosted its position in Packaging Corporation of America by 20.6% during the first quarter. Exchange Traded Concepts LLC now owns 387 shares of the industrial products company's stock valued at $77,000 after purchasing an additional 66 shares in the last quarter. Institutional investors own 89.78% of the company's stock.

Wall Street Analyst Weigh In

PKG has been the topic of a number of analyst reports. Wells Fargo & Company raised their price objective on shares of Packaging Corporation of America from $180.00 to $200.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 10th. UBS Group lifted their target price 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. Truist Financial dropped their target price 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. Citigroup upped their target price on Packaging Corporation of America from $197.00 to $214.00 and gave the stock a "neutral" rating in a research report on Friday, July 25th. Finally, Jefferies Financial Group cut shares of Packaging Corporation of America from a "buy" rating to a "hold" rating and lowered their price target for the stock from $245.00 to $205.00 in a research report on Monday, June 16th. Five analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $215.40.

Packaging Corporation of America Stock Performance

NYSE PKG traded up $2.61 on Thursday, reaching $194.83. 455,492 shares of the company's stock traded hands, compared to its average volume of 859,661. The stock has a 50 day moving average price of $196.53 and a 200-day moving average price of $198.65. Packaging Corporation of America has a fifty-two week low of $172.71 and a fifty-two 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 firm has a market cap of $17.53 billion, a price-to-earnings ratio of 19.44, a P/E/G ratio of 2.27 and a beta of 0.85.

Packaging Corporation of America (NYSE:PKG - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The industrial products company reported $2.48 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.44 by $0.04. Packaging Corporation of America had a return on equity of 20.36% and a net margin of 10.47%. The business had revenue of $2.17 billion during the quarter, compared to the consensus estimate of $2.18 billion. During the same period in the prior year, the business posted $2.20 EPS. The company's revenue for the quarter was up 4.7% on a year-over-year basis. Equities research analysts predict that Packaging Corporation of America will post 10.44 EPS for the current fiscal year.

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.