Packaging Corporation of America (NYSE:PKG) Shares Purchased by Board of the Pension Protection Fund

Board of the Pension Protection Fund raised its position in Packaging Corporation of America (NYSE:PKG - Free Report) by 2,600.0% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 2,700 shares of the industrial products company's stock after purchasing an additional 2,600 shares during the period. Board of the Pension Protection Fund's holdings in Packaging Corporation of America were worth $535,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in PKG. Norges Bank acquired a new stake in shares of Packaging Corporation of America in the fourth quarter valued at about $258,928,000. GAMMA Investing LLC grew its stake in Packaging Corporation of America by 25,461.0% during the 1st quarter. GAMMA Investing LLC now owns 621,387 shares of the industrial products company's stock valued at $123,047,000 after acquiring an additional 618,956 shares in the last quarter. Balyasny Asset Management L.P. grew its stake in Packaging Corporation of America by 106.7% during the 4th quarter. Balyasny Asset Management L.P. now owns 848,395 shares of the industrial products company's stock valued at $190,999,000 after acquiring an additional 438,012 shares in the last quarter. Select Equity Group L.P. acquired a new stake in Packaging Corporation of America in the 4th quarter valued at about $72,339,000. Finally, Point72 Asset Management L.P. raised its holdings in Packaging Corporation of America by 642.7% in the 4th quarter. Point72 Asset Management L.P. now owns 271,806 shares of the industrial products company's stock valued at $61,192,000 after acquiring an additional 235,211 shares during the last quarter. Institutional investors and hedge funds own 89.78% of the company's stock.

Packaging Corporation of America Trading Up 1.0%

NYSE:PKG traded up $1.81 on Friday, reaching $189.46. The company's stock had a trading volume of 673,552 shares, compared to its average volume of 741,069. Packaging Corporation of America has a 12-month low of $172.72 and a 12-month high of $250.82. The stock has a 50 day moving average price of $189.17 and a 200 day moving average price of $204.65. The firm has a market cap of $17.05 billion, a price-to-earnings ratio of 19.82, a price-to-earnings-growth ratio of 2.47 and a beta of 0.84. The company has a quick ratio of 2.15, a current ratio of 3.28 and a debt-to-equity ratio of 0.55.

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 (EPS) for the quarter, beating the consensus estimate of $2.21 by $0.10. The firm had revenue of $2.14 billion for the quarter, compared to analyst estimates of $2.12 billion. Packaging Corporation of America had a net margin of 10.09% and a return on equity of 20.08%. On average, equities analysts anticipate 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 given a dividend of $1.25 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.64%. Packaging Corporation of America's payout ratio is currently 52.30%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Truist Financial boosted 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. UBS Group started coverage on Packaging Corporation of America in a research report on Wednesday, June 4th. They set a "neutral" rating and a $200.00 price objective on the stock. Wall Street Zen cut Packaging Corporation of America from a "buy" rating to a "hold" rating in a report on Sunday, April 6th. Jefferies Financial Group downgraded Packaging Corporation of America from a "buy" rating to a "hold" rating and cut their target price for the stock from $245.00 to $205.00 in a research note on Monday, June 16th. Finally, Wells Fargo & Company reiterated 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 report on Friday, May 9th. Five research analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $211.80.

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.