GPS Wealth Strategies Group LLC Sells 1,787 Shares of Packaging Co. of America (NYSE:PKG)

GPS Wealth Strategies Group LLC reduced its holdings in Packaging Co. of America (NYSE:PKG - Free Report) by 44.4% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 2,236 shares of the industrial products company's stock after selling 1,787 shares during the quarter. GPS Wealth Strategies Group LLC's holdings in Packaging Co. of America were worth $443,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Jackson Creek Investment Advisors LLC acquired a new position in Packaging Co. of America in the 4th quarter valued at approximately $293,000. AlphaQuest LLC increased its position in Packaging Co. of America by 25.3% in the 4th quarter. AlphaQuest LLC now owns 9,683 shares of the industrial products company's stock valued at $2,180,000 after acquiring an additional 1,954 shares during the period. Distillate Capital Partners LLC acquired a new position in Packaging Co. of America in the 4th quarter valued at approximately $15,828,000. Strategic Financial Concepts LLC acquired a new position in Packaging Co. of America in the 4th quarter valued at approximately $6,966,000. Finally, Sciencast Management LP acquired a new position in Packaging Co. of America in the 4th quarter valued at approximately $2,853,000. 89.78% of the stock is currently owned by institutional investors and hedge funds.

Packaging Co. of America Stock Down 2.6%

NYSE:PKG traded down $5.01 during trading hours on Friday, reaching $188.30. The company had a trading volume of 524,068 shares, compared to its average volume of 738,626. The company has a quick ratio of 1.98, a current ratio of 2.95 and a debt-to-equity ratio of 0.58. The firm has a market cap of $16.94 billion, a price-to-earnings ratio of 21.09, a P/E/G ratio of 2.41 and a beta of 0.84. The business's 50-day simple moving average is $189.04 and its two-hundred day simple moving average is $207.93. Packaging Co. of America has a twelve month low of $172.72 and a twelve month high of $250.82.

Packaging Co. of America (NYSE:PKG - Get Free Report) last posted its quarterly earnings results on Tuesday, April 22nd. The industrial products company reported $2.31 EPS for the quarter, topping analysts' consensus estimates of $2.21 by $0.10. The business had revenue of $2.14 billion during the quarter, compared to analysts' expectations of $2.12 billion. Packaging Co. of America had a net margin of 9.60% and a return on equity of 19.67%. On average, equities analysts expect that Packaging Co. of America will post 10.44 earnings per share for the current year.

Packaging Co. of America Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Friday, June 13th will be issued a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a yield of 2.66%. The ex-dividend date of this dividend is Friday, June 13th. Packaging Co. of America's payout ratio is 52.30%.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. Wall Street Zen cut shares of Packaging Co. of America from a "buy" rating to a "hold" rating in a research report on Sunday, April 6th. Truist Financial decreased their price objective on shares of Packaging Co. of America from $265.00 to $238.00 and set a "buy" rating for the company in a research report on Tuesday, April 22nd. Wells Fargo & Company reiterated an "equal weight" rating and set a $180.00 price objective (down from $205.00) on shares of Packaging Co. of America in a research report on Friday, May 9th. Finally, UBS Group initiated coverage on shares of Packaging Co. of America in a research report on Wednesday, June 4th. They set a "neutral" rating and a $200.00 price objective for the company. Four analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $222.17.

Packaging Co. 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.