Beverly Hills Private Wealth LLC Lowers Stock Position in Packaging Corporation of America (NYSE:PKG)

Beverly Hills Private Wealth LLC decreased 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 SEC. The institutional investor owned 7,495 shares of the industrial products company's stock after selling 2,133 shares during the period. Beverly Hills Private Wealth LLC's holdings in Packaging Corporation of America were worth $1,484,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Alpine Bank Wealth Management purchased a new stake in shares of Packaging Corporation of America in the 1st quarter valued at $39,000. Lazard Asset Management LLC boosted its stake in shares of Packaging Corporation of America by 1,033.3% during the fourth 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. boosted its stake in shares of Packaging Corporation of America by 54.8% during the first 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 purchased a new stake in shares of Packaging Corporation of America during the fourth quarter valued at approximately $63,000. Finally, Ameriflex Group Inc. purchased a new stake in shares of Packaging Corporation of America during the fourth quarter valued at approximately $64,000. Hedge funds and other institutional investors own 89.78% of the company's stock.

Packaging Corporation of America Trading Up 0.5%

PKG stock traded up $1.02 on Tuesday, reaching $202.29. The company's stock had a trading volume of 98,807 shares, compared to its average volume of 741,927. The business has a fifty day simple moving average of $190.93 and a two-hundred day simple moving average of $202.48. Packaging Corporation of America has a 12-month low of $172.72 and a 12-month high of $250.82. The firm has a market cap of $18.20 billion, a PE ratio of 21.13, a PEG 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 (NYSE:PKG - Get Free Report) last announced its quarterly earnings results on Tuesday, April 22nd. The industrial products company reported $2.31 EPS for the quarter, topping analysts' consensus estimates 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 company had revenue of $2.14 billion during the quarter, compared to analyst estimates of $2.12 billion. As a group, research analysts forecast that Packaging Corporation of America will post 10.44 EPS for the current year.

Packaging Corporation of America Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Friday, June 13th will be given a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a yield of 2.47%. The ex-dividend date is Friday, June 13th. Packaging Corporation of America's dividend payout ratio is currently 52.30%.

Analysts Set New Price Targets

PKG has been the subject of a number of analyst reports. UBS Group initiated coverage on Packaging Corporation of America in a research note on Wednesday, June 4th. They set a "neutral" rating and a $200.00 price objective for the company. Wall Street Zen lowered Packaging Corporation of America from a "buy" rating to a "hold" rating in a research note on Sunday, April 6th. Wells Fargo & Company reissued an "equal weight" rating and set a $180.00 price objective (down previously from $205.00) on shares of Packaging Corporation of America in a research note on Friday, May 9th. Jefferies Financial Group lowered Packaging Corporation of America from a "buy" rating to a "hold" rating and dropped their price objective for the company from $245.00 to $205.00 in a research note on Monday, June 16th. Finally, Truist Financial increased their price objective on Packaging Corporation of America from $237.00 to $239.00 and gave the company a "buy" rating in a research note on Tuesday, June 17th. Five 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 stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus 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.