Achmea Investment Management B.V. Increases Stock Position in Packaging Corporation of America (NYSE:PKG)

Achmea Investment Management B.V. grew its holdings in Packaging Corporation of America (NYSE:PKG - Free Report) by 37.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,860 shares of the industrial products company's stock after purchasing an additional 9,721 shares during the quarter. Achmea Investment Management B.V.'s holdings in Packaging Corporation of America were worth $7,101,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Alpine Bank Wealth Management purchased a new position in Packaging Corporation of America in the 1st quarter worth approximately $39,000. Lazard Asset Management LLC lifted its stake in Packaging Corporation of America by 1,033.3% in the 4th quarter. Lazard Asset Management LLC now owns 204 shares of the industrial products company's stock worth $45,000 after purchasing an additional 186 shares in the last quarter. Rialto Wealth Management LLC purchased a new position in Packaging Corporation of America in the 4th quarter worth approximately $63,000. Ameriflex Group Inc. purchased a new position in Packaging Corporation of America in the 4th quarter worth approximately $64,000. Finally, Intact Investment Management Inc. purchased a new position in Packaging Corporation of America in the 4th quarter worth approximately $68,000. 89.78% of the stock is owned by hedge funds and other institutional investors.

Packaging Corporation of America Trading Up 1.0%

Shares of NYSE PKG traded up $1.81 during midday trading on Friday, reaching $189.46. 673,552 shares of the stock were exchanged, compared to its average volume of 739,788. The company has a 50 day simple moving average of $189.22 and a 200 day simple moving average of $204.08. The stock has a market capitalization of $17.05 billion, a P/E ratio of 19.82, a PEG ratio of 2.50 and a beta of 0.84. The company has a debt-to-equity ratio of 0.55, a quick ratio of 2.15 and a current ratio of 3.28. Packaging Corporation of America has a twelve month low of $172.72 and a twelve month high of $250.82.

Packaging Corporation of America (NYSE:PKG - Get Free Report) last posted its earnings results on Tuesday, April 22nd. The industrial products company reported $2.31 earnings per share for the quarter, beating the consensus estimate of $2.21 by $0.10. Packaging Corporation of America had a net margin of 10.09% and a return on equity of 20.08%. The firm had revenue of $2.14 billion during the quarter, compared to the consensus estimate of $2.12 billion. As a group, equities analysts expect that Packaging Corporation of America will post 10.44 earnings per share for the current year.

Packaging Corporation of America Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Friday, June 13th will be issued a $1.25 dividend. The ex-dividend date is Friday, June 13th. This represents a $5.00 annualized dividend and a yield of 2.64%. Packaging Corporation of America's dividend payout ratio (DPR) is presently 52.30%.

Analysts Set New Price Targets

A number of research firms have weighed in on PKG. Wall Street Zen lowered shares of Packaging Corporation of America from a "buy" rating to a "hold" rating in a research note on Sunday, April 6th. UBS Group began coverage on shares of Packaging Corporation of America in a report on Wednesday, June 4th. They set a "neutral" rating and a $200.00 price target for the company. Wells Fargo & Company restated an "equal weight" rating and set a $180.00 price target (down previously from $205.00) on shares of Packaging Corporation of America in a report on Friday, May 9th. Truist Financial raised their price target on shares of Packaging Corporation of America from $237.00 to $239.00 and gave the stock a "buy" rating in a report on Tuesday, June 17th. Finally, Jefferies Financial Group downgraded shares of Packaging Corporation of America from a "buy" rating to a "hold" rating and cut their price target for the stock from $245.00 to $205.00 in a report on Monday, June 16th. Five analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $211.80.

About Packaging Corporation of America

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.