AMI Asset Management Corp Takes $637,000 Position in Packaging Corporation of America (NYSE:PKG)

AMI Asset Management Corp acquired a new stake in shares of Packaging Corporation of America (NYSE:PKG - Free Report) in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 3,216 shares of the industrial products company's stock, valued at approximately $637,000.

Other large investors also recently bought and sold shares of the company. Jackson Creek Investment Advisors LLC purchased a new position in Packaging Corporation of America during the 4th quarter valued at $293,000. AlphaQuest LLC boosted its holdings in Packaging Corporation of America by 25.3% during the 4th quarter. AlphaQuest LLC now owns 9,683 shares of the industrial products company's stock valued at $2,180,000 after acquiring an additional 1,954 shares during the period. Distillate Capital Partners LLC purchased a new position in Packaging Corporation of America during the 4th quarter valued at $15,828,000. Sciencast Management LP purchased a new position in Packaging Corporation of America during the 4th quarter valued at $2,853,000. Finally, Korea Investment CORP boosted its holdings in Packaging Corporation of America by 96.0% during the 4th quarter. Korea Investment CORP now owns 71,004 shares of the industrial products company's stock valued at $15,985,000 after acquiring an additional 34,784 shares during the period. Hedge funds and other institutional investors own 89.78% of the company's stock.

Packaging Corporation of America Price Performance

Shares of PKG stock opened at $187.09 on Thursday. The company has a current ratio of 3.28, a quick ratio of 2.15 and a debt-to-equity ratio of 0.55. The stock has a market capitalization of $16.83 billion, a price-to-earnings ratio of 19.57, a P/E/G ratio of 2.50 and a beta of 0.84. Packaging Corporation of America has a twelve month low of $172.72 and a twelve month high of $250.82. The stock has a fifty day simple moving average of $189.15 and a two-hundred day simple moving average of $205.01.

Packaging Corporation of America (NYSE:PKG - Get Free Report) last issued its quarterly earnings data on Tuesday, April 22nd. The industrial products company reported $2.31 earnings per share for the quarter, topping analysts' consensus estimates of $2.21 by $0.10. The firm had revenue of $2.14 billion during the quarter, compared to analysts' expectations of $2.12 billion. Packaging Corporation of America had a return on equity of 20.08% and a net margin of 10.09%. On average, 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 disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Friday, June 13th will be paid a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.67%. The ex-dividend date of this dividend is Friday, June 13th. Packaging Corporation of America's dividend payout ratio (DPR) is currently 52.30%.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on PKG. UBS Group began coverage on Packaging Corporation of America in a report on Wednesday, June 4th. They set a "neutral" rating and a $200.00 price objective for the company. Wells Fargo & Company reiterated an "equal weight" rating and issued a $180.00 target price (down from $205.00) on shares of Packaging Corporation of America in a report on Friday, May 9th. Wall Street Zen cut Packaging Corporation of America from a "buy" rating to a "hold" rating in a report on Sunday, April 6th. Truist Financial upped their target price on 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 cut Packaging Corporation of America from a "buy" rating to a "hold" rating and lowered their target price for the stock from $245.00 to $205.00 in a report on Monday, June 16th. Five equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $211.80.

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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