6,074 Shares in Packaging Corporation of America (NYSE:PKG) Purchased by Oak Thistle LLC

Oak Thistle LLC bought a new position in shares of Packaging Corporation of America (NYSE:PKG - Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund bought 6,074 shares of the industrial products company's stock, valued at approximately $1,203,000.

A number of other institutional investors have also made changes to their positions in the business. Vanguard Group Inc. grew its holdings in Packaging Corporation of America by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 11,423,715 shares of the industrial products company's stock valued at $2,571,821,000 after buying an additional 133,575 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. grew its holdings in Packaging Corporation of America by 1.9% in the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 3,771 shares of the industrial products company's stock valued at $849,000 after buying an additional 70 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp grew its holdings in Packaging Corporation of America by 23.6% in the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 94,194 shares of the industrial products company's stock valued at $21,206,000 after buying an additional 17,980 shares in the last quarter. Korea Investment CORP grew its holdings in Packaging Corporation of America by 96.0% in the 4th quarter. Korea Investment CORP now owns 71,004 shares of the industrial products company's stock valued at $15,985,000 after buying an additional 34,784 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in Packaging Corporation of America by 11.2% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 141,683 shares of the industrial products company's stock valued at $32,003,000 after buying an additional 14,253 shares in the last quarter. 89.78% of the stock is owned by institutional investors and hedge funds.

Packaging Corporation of America Trading Up 0.2%

Packaging Corporation of America stock traded up $0.49 during trading hours on Friday, hitting $206.42. The stock had a trading volume of 629,946 shares, compared to its average volume of 697,820. The company has a quick ratio of 2.15, a current ratio of 3.28 and a debt-to-equity ratio of 0.55. The stock has a market cap of $18.57 billion, a price-to-earnings ratio of 20.60, a P/E/G ratio of 2.73 and a beta of 0.82. Packaging Corporation of America has a one year low of $172.71 and a one year high of $250.82. The business's 50 day simple moving average is $195.91 and its 200-day simple moving average is $200.42.

Packaging Corporation of America (NYSE:PKG - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The industrial products company reported $2.48 earnings per share (EPS) for the quarter, topping 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 20.36%. The firm had revenue of $2.17 billion during the quarter, compared to analyst estimates of $2.18 billion. During the same quarter last year, the business earned $2.20 EPS. The company's revenue was up 4.7% compared to the same quarter last year. On average, equities analysts predict that Packaging Corporation of America will post 10.44 EPS for the current fiscal year.

Packaging Corporation of America Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Friday, June 13th were issued a $1.25 dividend. The ex-dividend date of this dividend was Friday, June 13th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.42%. Packaging Corporation of America's dividend payout ratio is presently 49.90%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on PKG. Jefferies Financial Group lowered Packaging Corporation of America from a "buy" rating to a "hold" rating and decreased their price objective for the company from $245.00 to $205.00 in a report on Monday, June 16th. Wells Fargo & Company upped their target price on Packaging Corporation of America from $180.00 to $200.00 and gave the company an "equal weight" rating in a research report on Thursday, July 10th. Citigroup upped their target price on Packaging Corporation of America from $197.00 to $214.00 and gave the company a "neutral" rating in a research report on Friday. UBS Group upped their target price on Packaging Corporation of America from $200.00 to $210.00 and gave the company a "neutral" rating in a research report on Wednesday, July 9th. Finally, Truist Financial cut their target price on Packaging Corporation of America from $239.00 to $238.00 and set a "buy" rating for the company in a research report on Friday. Five 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. According to data from MarketBeat, Packaging Corporation of America presently has an average rating of "Hold" and a consensus price target of $213.40.

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.