Beverly Hills Private Wealth LLC Sells 2,133 Shares of Packaging Corporation of America (NYSE:PKG)

Beverly Hills Private Wealth LLC lessened its holdings in Packaging Corporation of America (NYSE:PKG - Free Report) by 22.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,495 shares of the industrial products company's stock after selling 2,133 shares during the quarter. Beverly Hills Private Wealth LLC's holdings in Packaging Corporation of America were worth $1,484,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently bought and sold shares of the company. Alpine Bank Wealth Management bought a new position in Packaging Corporation of America in the 1st quarter valued at $39,000. Lazard Asset Management LLC grew 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 valued at $45,000 after purchasing an additional 186 shares during the period. HM Payson & Co. grew its stake in Packaging Corporation of America by 54.8% in the 1st quarter. HM Payson & Co. now owns 240 shares of the industrial products company's stock valued at $48,000 after purchasing an additional 85 shares during the period. Rialto Wealth Management LLC bought a new position in Packaging Corporation of America in the 4th quarter valued at $63,000. Finally, Intact Investment Management Inc. bought a new position in Packaging Corporation of America in the 4th quarter valued at $68,000. Institutional investors own 89.78% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on PKG shares. Jefferies Financial Group downgraded Packaging Corporation of America from a "buy" rating to a "hold" rating and reduced their price objective for the company from $245.00 to $205.00 in a research note on Monday, June 16th. Wells Fargo & Company reaffirmed 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 research report on Friday, May 9th. Wall Street Zen cut Packaging Corporation of America from a "buy" rating to a "hold" rating in a research report on Sunday, April 6th. UBS Group initiated coverage on Packaging Corporation of America in a research report on Wednesday, June 4th. They set a "neutral" rating and a $200.00 price target on the stock. Finally, Truist Financial upped their price target on Packaging Corporation of America from $237.00 to $239.00 and gave the company a "buy" rating in a research report on Tuesday, June 17th. 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, Packaging Corporation of America presently has a consensus rating of "Hold" and a consensus price target of $211.80.

Packaging Corporation of America Stock Performance

Shares of PKG opened at $202.29 on Monday. The stock's 50-day simple moving average is $190.63 and its 200 day simple moving average is $202.67. The stock has a market capitalization of $18.20 billion, a price-to-earnings ratio of 21.16, a price-to-earnings-growth ratio of 2.67 and a beta of 0.82. 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 52-week low of $172.72 and a 52-week high of $250.82.

Packaging Corporation of America (NYSE:PKG - Get Free Report) last released its quarterly 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 return on equity of 20.08% and a net margin of 10.09%. The firm had revenue of $2.14 billion for the quarter, compared to analysts' expectations of $2.12 billion. Research analysts forecast that Packaging Corporation of America will post 10.44 EPS for the current fiscal year.

Packaging Corporation of America Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders 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 dividend yield of 2.47%. Packaging Corporation of America's payout ratio is currently 52.30%.

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.

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