Packaging Corporation of America (NYSE:PKG) Shares Sold by New Age Alpha Advisors LLC

Key Points

• New Age Alpha Advisors LLC reduced its holdings in Packaging Corporation of America by 42.2%, selling 1,957 shares and bringing its total ownership to 2,685 shares valued at approximately $532,000.
• Packaging Corporation of America reported earnings per share (EPS) of $2.48 for the last quarter, exceeding expectations, while revenue was slightly below projection at $2.17 billion.
• Recent price target changes by analysts reflect a range of neutral to buy ratings, with new targets ranging from $200 to $220, indicating varying levels of confidence in the stock's performance.

New Age Alpha Advisors LLC lessened its holdings in shares of Packaging Corporation of America (NYSE:PKG - Free Report) by 42.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,685 shares of the industrial products company's stock after selling 1,957 shares during the period. New Age Alpha Advisors LLC's holdings in Packaging Corporation of America were worth $532,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the business. Clearstead Trust LLC increased its holdings in shares of 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 purchasing an additional 70 shares in the last quarter. Raiffeisen Bank International AG increased its holdings in Packaging Corporation of America by 80.6% in the first quarter. Raiffeisen Bank International AG now owns 5,058 shares of the industrial products company's stock valued at $989,000 after buying an additional 2,258 shares in the last quarter. Blair William & Co. IL increased its holdings in Packaging Corporation of America by 7.4% in the first quarter. Blair William & Co. IL now owns 2,166 shares of the industrial products company's stock valued at $429,000 after buying an additional 149 shares in the last quarter. Argent Trust Co increased its holdings in Packaging Corporation of America by 3.1% in the first quarter. Argent Trust Co now owns 14,158 shares of the industrial products company's stock valued at $2,804,000 after buying an additional 425 shares in the last quarter. Finally, Manchester Capital Management LLC increased its holdings in Packaging Corporation of America by 39.0% in the first 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. Hedge funds and other institutional investors own 89.78% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Jefferies Financial Group cut 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. Wells Fargo & Company lifted their price objective 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. UBS Group lifted 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 lifted 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. Finally, Truist Financial cut their price objective 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. Five equities research 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 company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $215.40.

Packaging Corporation of America Price Performance

Shares of NYSE PKG traded up $2.44 during mid-day trading on Tuesday, reaching $199.06. The company's stock had a trading volume of 488,870 shares, compared to its average volume of 851,987. The stock has a 50-day moving average of $196.73 and a two-hundred day moving average of $197.15. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.32 and a current ratio of 3.54. The stock has a market capitalization of $17.91 billion, a P/E ratio of 19.87, a P/E/G ratio of 2.31 and a beta of 0.85. Packaging Corporation of America has a 1-year low of $172.71 and a 1-year high of $250.82.

Packaging Corporation of America (NYSE:PKG - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The industrial products company reported $2.48 earnings per share (EPS) for the quarter, beating the consensus estimate 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 company had revenue of $2.17 billion during the quarter, compared to analysts' expectations of $2.18 billion. During the same quarter in the prior year, the company earned $2.20 EPS. Packaging Corporation of America's revenue was up 4.7% compared to the same quarter last year. On average, equities research analysts anticipate that Packaging Corporation of America will post 10.44 EPS for the current fiscal year.

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.