Victory Capital Management Inc. Sells 538,226 Shares of Packaging Co. of America (NYSE:PKG)

Victory Capital Management Inc. decreased its holdings in Packaging Co. of America (NYSE:PKG) by 25.2% in the 4th quarter, Holdings Channel.com reports. The firm owned 1,593,721 shares of the industrial products company’s stock after selling 538,226 shares during the period. Victory Capital Management Inc.’s holdings in Packaging Co. of America were worth $358,794,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Bahl & Gaynor Inc. increased its position in shares of Packaging Co. of America by 14.1% in the fourth quarter. Bahl & Gaynor Inc. now owns 225,834 shares of the industrial products company’s stock worth $50,842,000 after purchasing an additional 27,924 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of Packaging Co. of America by 4.5% during the 4th 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 period. Steward Partners Investment Advisory LLC boosted its holdings in shares of Packaging Co. of America by 10.1% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 2,084 shares of the industrial products company’s stock valued at $469,000 after purchasing an additional 192 shares in the last quarter. Schechter Investment Advisors LLC increased its stake in shares of Packaging Co. of America by 13.0% in the 4th quarter. Schechter Investment Advisors LLC now owns 1,284 shares of the industrial products company’s stock valued at $289,000 after purchasing an additional 148 shares during the last quarter. Finally, Jones Financial Companies Lllp raised its holdings in shares of Packaging Co. of America by 79.0% during the 4th quarter. Jones Financial Companies Lllp now owns 666 shares of the industrial products company’s stock worth $150,000 after buying an additional 294 shares in the last quarter. Institutional investors and hedge funds own 89.78% of the company’s stock.

Packaging Co. of America Price Performance

Shares of PKG opened at $202.18 on Wednesday. The business has a 50-day moving average of $221.30 and a 200-day moving average of $222.94. Packaging Co. of America has a 1 year low of $169.00 and a 1 year high of $250.82. The company has a market capitalization of $18.16 billion, a price-to-earnings ratio of 22.64, a price-to-earnings-growth ratio of 2.41 and a beta of 0.77. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.95 and a quick ratio of 1.98.

Packaging Co. of America (NYSE:PKG) last issued its quarterly earnings results on Tuesday, January 28th. The industrial products company reported $2.47 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.51 by ($0.04). Packaging Co. of America had a return on equity of 19.67% and a net margin of 9.60%. As a group, equities research analysts anticipate that Packaging Co. of America will post 10.44 earnings per share for the current year.

Packaging Co. of America Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Friday, March 14th will be given a dividend of $1.25 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $5.00 dividend on an annualized basis and a yield of 2.47%. Packaging Co. of America’s dividend payout ratio (DPR) is currently 55.99%.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. Citigroup upped their price objective on shares of Packaging Co. of America from $232.00 to $235.00 and gave the stock a “neutral” rating in a research report on Monday, January 6th. StockNews.com raised Packaging Co. of America from a “hold” rating to a “buy” rating in a research note on Wednesday, February 26th. Truist Financial restated a “buy” rating and set a $265.00 price target (down from $282.00) on shares of Packaging Co. of America in a report on Thursday, January 30th. Wells Fargo & Company dropped their price objective on shares of Packaging Co. of America from $253.00 to $236.00 and set an “overweight” rating for the company in a report on Thursday, January 30th. Finally, Jefferies Financial Group raised shares of Packaging Co. of America from a “hold” rating to a “buy” rating and boosted their target price for the stock from $215.00 to $280.00 in a report on Wednesday, December 18th. Two research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $233.00.

Packaging Co. 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.