AE Wealth Management LLC Has $231,000 Stock Position in Packaging Corporation of America (NYSE:PKG)

Key Points

• AE Wealth Management LLC reduced its holdings in Packaging Corporation of America by 57.3% in the first quarter, now owning 1,165 shares valued at $231,000.
• Several analysts have recently adjusted their ratings and price targets for PKG, with Jefferies downgrading it to a "hold" and lowering the target price from $245 to $205.
• The company recently declared a dividend of $1.25 per share, representing an annual yield of 2.6%, with a payout ratio of 49.90%.

AE Wealth Management LLC lowered its holdings in shares of Packaging Corporation of America (NYSE:PKG - Free Report) by 57.3% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,165 shares of the industrial products company's stock after selling 1,564 shares during the period. AE Wealth Management LLC's holdings in Packaging Corporation of America were worth $231,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Orion Portfolio Solutions LLC grew its stake in Packaging Corporation of America by 25.9% in the fourth quarter. Orion Portfolio Solutions LLC now owns 4,761 shares of the industrial products company's stock valued at $1,072,000 after acquiring an additional 980 shares during the period. Wellington Management Group LLP increased its holdings in shares of Packaging Corporation of America by 134.1% during the fourth quarter. Wellington Management Group LLP now owns 28,260 shares of the industrial products company's stock valued at $6,362,000 after acquiring an additional 16,190 shares in the last quarter. B. Metzler seel. Sohn & Co. AG increased its holdings in shares of Packaging Corporation of America by 9.6% during the fourth quarter. B. Metzler seel. Sohn & Co. AG now owns 4,663 shares of the industrial products company's stock valued at $1,050,000 after acquiring an additional 410 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Packaging Corporation of America by 1.3% during the fourth quarter. Geode Capital Management LLC now owns 2,366,723 shares of the industrial products company's stock valued at $531,540,000 after acquiring an additional 29,427 shares in the last quarter. Finally, Headlands Technologies LLC bought a new stake in shares of Packaging Corporation of America during the fourth quarter valued at approximately $929,000. Institutional investors and hedge funds own 89.78% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on PKG shares. Jefferies Financial Group downgraded 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. Truist Financial dropped their target price on Packaging Corporation of America from $239.00 to $238.00 and set a "buy" rating on the stock in a report on Friday, July 25th. UBS Group raised their target price on Packaging Corporation of America from $210.00 to $220.00 and gave the company a "neutral" rating in a report on Tuesday. Wall Street Zen lowered Packaging Corporation of America from a "buy" rating to a "hold" rating in a report on Sunday, April 6th. Finally, Wells Fargo & Company raised their target price on Packaging Corporation of America from $180.00 to $200.00 and gave the company an "equal weight" rating in a report on Thursday, July 10th. 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 stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $215.40.

Packaging Corporation of America Stock Performance

Shares of Packaging Corporation of America stock opened at $193.60 on Friday. The business's fifty day simple moving average is $196.48 and its 200 day simple moving average is $199.82. The firm has a market capitalization of $17.42 billion, a P/E ratio of 19.32, a price-to-earnings-growth ratio of 2.33 and a beta of 0.82. Packaging Corporation of America has a 12 month low of $172.71 and a 12 month high of $250.82. 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 (NYSE:PKG - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The industrial products company reported $2.48 EPS for the quarter, topping analysts' consensus estimates of $2.44 by $0.04. The business had revenue of $2.17 billion for the quarter, compared to analyst estimates of $2.18 billion. Packaging Corporation of America had a return on equity of 20.36% and a net margin of 10.47%. Packaging Corporation of America's quarterly revenue was up 4.7% compared to the same quarter last year. During the same period last year, the company posted $2.20 earnings per share. As a group, analysts anticipate that Packaging Corporation of America will post 10.44 EPS for the current year.

Packaging Corporation of America Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Friday, June 13th were issued a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date was Friday, June 13th. Packaging Corporation of America's dividend payout ratio (DPR) is 49.90%.

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.

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