Affinity Investment Advisors LLC Increases Stock Holdings in Packaging Corporation of America (NYSE:PKG)

Key Points

• Affinity Investment Advisors LLC increased its holdings in Packaging Corporation of America by 180.2% during the first quarter of the year, owning 5,439 shares valued at approximately $1,077,000.
• The company's share price has experienced fluctuations, opening at $193.46 recently, with a twelve month low of $172.71 and a high of $250.82.
• Packaging Corporation of America reported earnings of $2.48 per share for the recent quarter, exceeding expectations and showing a year-over-year revenue growth of 4.7%.

Affinity Investment Advisors LLC grew its holdings in shares of Packaging Corporation of America (NYSE:PKG - Free Report) by 180.2% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,439 shares of the industrial products company's stock after purchasing an additional 3,498 shares during the quarter. Affinity Investment Advisors LLC's holdings in Packaging Corporation of America were worth $1,077,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Clearstead Trust LLC lifted its position in shares of Packaging Corporation of America by 118.6% during the 1st quarter. Clearstead Trust LLC now owns 129 shares of the industrial products company's stock valued at $26,000 after buying an additional 70 shares in the last quarter. TCTC Holdings LLC increased its holdings in Packaging Corporation of America by 86.4% in the 1st quarter. TCTC Holdings LLC now owns 151 shares of the industrial products company's stock worth $30,000 after acquiring an additional 70 shares in the last quarter. Alpine Bank Wealth Management bought a new stake in Packaging Corporation of America during the 1st quarter worth approximately $39,000. Banque Cantonale Vaudoise purchased a new position in Packaging Corporation of America during the first quarter valued at approximately $40,000. Finally, Manchester Capital Management LLC lifted its holdings in Packaging Corporation of America by 39.0% during the first quarter. Manchester Capital Management LLC now owns 203 shares of the industrial products company's stock valued at $40,000 after purchasing an additional 57 shares in the last quarter. Institutional investors own 89.78% of the company's stock.

Packaging Corporation of America Trading Down 1.6%

Shares of NYSE PKG opened at $193.46 on Friday. Packaging Corporation of America has a twelve month low of $172.71 and a twelve month high of $250.82. The firm has a market cap of $17.41 billion, a PE ratio of 19.31, a price-to-earnings-growth ratio of 2.27 and a beta of 0.85. The business has a fifty day simple moving average of $196.95 and a two-hundred day simple moving average of $196.45. The company has a quick ratio of 2.32, a current ratio of 3.54 and a debt-to-equity ratio of 0.54.

Packaging Corporation of America (NYSE:PKG - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The industrial products company reported $2.48 earnings per share for the quarter, beating the consensus estimate of $2.44 by $0.04. Packaging Corporation of America had a return on equity of 20.08% and a net margin of 10.47%. The firm had revenue of $2.17 billion during the quarter, compared to the consensus estimate of $2.18 billion. During the same period in the previous year, the company posted $2.20 earnings per share. The firm's quarterly revenue was up 4.7% on a year-over-year basis. Analysts expect that Packaging Corporation of America will post 10.44 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently commented on PKG. Citigroup raised their price objective on shares of Packaging Corporation of America from $197.00 to $214.00 and gave the company a "neutral" rating in a research report on Friday, July 25th. Jefferies Financial Group lowered 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 research note on Monday, June 16th. Truist Financial lowered their price objective on Packaging Corporation of America from $239.00 to $238.00 and set a "buy" rating on the stock in a research report on Friday, July 25th. Wells Fargo & Company upped their price objective on Packaging Corporation of America from $180.00 to $200.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 10th. Finally, UBS Group lifted their target price on Packaging Corporation of America from $210.00 to $220.00 and gave the company a "neutral" rating in a research note on Tuesday, July 29th. Five research analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Packaging Corporation of America currently has a consensus rating of "Hold" and a consensus target price of $215.40.

Packaging Corporation 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.

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