OneDigital Investment Advisors LLC Lowers Stake in Packaging Corporation of America (NYSE:PKG)

OneDigital Investment Advisors LLC lowered its stake in Packaging Corporation of America (NYSE:PKG - Free Report) by 71.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,294 shares of the industrial products company's stock after selling 3,314 shares during the period. OneDigital Investment Advisors LLC's holdings in Packaging Corporation of America were worth $256,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Exchange Traded Concepts LLC grew its position in Packaging Corporation of America by 20.6% in the first quarter. Exchange Traded Concepts LLC now owns 387 shares of the industrial products company's stock worth $77,000 after acquiring an additional 66 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. grew its position in Packaging Corporation of America by 1.9% in the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 3,771 shares of the industrial products company's stock worth $849,000 after acquiring an additional 70 shares in the last quarter. Avidian Wealth Enterprises LLC grew its position in Packaging Corporation of America by 6.1% in the first quarter. Avidian Wealth Enterprises LLC now owns 1,308 shares of the industrial products company's stock worth $259,000 after acquiring an additional 75 shares in the last quarter. Colonial Trust Co SC grew its position in Packaging Corporation of America by 3.9% in the fourth quarter. Colonial Trust Co SC now owns 2,071 shares of the industrial products company's stock worth $466,000 after acquiring an additional 78 shares in the last quarter. Finally, Nissay Asset Management Corp Japan ADV boosted its position in shares of Packaging Corporation of America by 0.7% during the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 10,857 shares of the industrial products company's stock valued at $2,466,000 after buying an additional 80 shares during the period. Hedge funds and other institutional investors own 89.78% of the company's stock.

Packaging Corporation of America Stock Up 1.5%

Shares of PKG stock traded up $2.94 during trading hours on Wednesday, reaching $202.62. 621,452 shares of the company's stock were exchanged, compared to its average volume of 747,690. The stock's 50 day moving average is $193.32 and its 200-day moving average is $201.64. The company has a market cap of $18.23 billion, a price-to-earnings ratio of 21.19, a P/E/G ratio of 2.69 and a beta of 0.82. The company has a current ratio of 3.28, a quick ratio of 2.15 and a debt-to-equity ratio of 0.55. Packaging Corporation of America has a fifty-two week low of $172.72 and a fifty-two week high of $250.82.

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

Packaging Corporation of America Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Friday, June 13th were issued a $1.25 dividend. This represents a $5.00 annualized dividend and a yield of 2.47%. The ex-dividend date of this dividend was Friday, June 13th. Packaging Corporation of America's payout ratio is 52.30%.

Analyst Ratings Changes

Several research analysts have issued reports on PKG shares. Wall Street Zen lowered Packaging Corporation of America from a "buy" rating to a "hold" rating in a research report on Sunday, April 6th. Truist Financial boosted their target price on Packaging Corporation of America from $237.00 to $239.00 and gave the company a "buy" rating in a research report on Tuesday, June 17th. Wells Fargo & Company lifted their price target on shares of Packaging Corporation of America from $180.00 to $200.00 and gave the company an "equal weight" rating in a research note on Thursday, July 10th. Jefferies Financial Group downgraded shares of Packaging Corporation of America from a "buy" rating to a "hold" rating and decreased their price target for the company from $245.00 to $205.00 in a research note on Monday, June 16th. Finally, UBS Group boosted their price objective on shares of Packaging Corporation of America from $200.00 to $210.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 9th. Five investment analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $217.80.

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.