Boston Partners Cuts Stake in Packaging Corporation of America (NYSE:PKG)

Key Points

• Boston Partners reduced its stake in Packaging Corporation of America (PKG) by 14.3%, selling 223,578 shares in the first quarter, leaving it with 1,341,773 shares valued at approximately $265.7 million.
• Institutional investor ownership is high, with 89.78% of PKG stock held by various institutional investors and hedge funds, indicating strong professional interest in the company.
• Equities research analysts remain cautious with a consensus rating of "Hold", while price targets have varied from $197 to $220, reflecting mixed sentiments on PKG's future performance.

Boston Partners lowered its holdings in Packaging Corporation of America (NYSE:PKG - Free Report) by 14.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,341,773 shares of the industrial products company's stock after selling 223,578 shares during the period. Boston Partners owned approximately 1.49% of Packaging Corporation of America worth $265,658,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Clearstead Trust LLC grew its stake in Packaging Corporation of America by 118.6% in the 1st quarter. Clearstead Trust LLC now owns 129 shares of the industrial products company's stock worth $26,000 after buying an additional 70 shares in the last quarter. TCTC Holdings LLC lifted its holdings in shares of 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 during the last quarter. Alpine Bank Wealth Management bought a new stake in shares of Packaging Corporation of America in the 1st quarter worth approximately $39,000. Banque Cantonale Vaudoise bought a new stake in shares of Packaging Corporation of America in the 1st quarter worth approximately $40,000. Finally, Manchester Capital Management LLC lifted its holdings in shares of Packaging Corporation of America by 39.0% in the 1st quarter. Manchester Capital Management LLC now owns 203 shares of the industrial products company's stock worth $40,000 after acquiring an additional 57 shares during the last quarter. Institutional investors own 89.78% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. Truist Financial lowered their price target on shares of Packaging Corporation of America from $239.00 to $238.00 and set a "buy" rating for the company in a report on Friday, July 25th. UBS Group upped their price target on shares of Packaging Corporation of America from $210.00 to $220.00 and gave the company a "neutral" rating in a report on Tuesday, July 29th. Wells Fargo & Company upped their price target on shares of Packaging Corporation of America from $180.00 to $200.00 and gave the company an "equal weight" rating in a report on Thursday, July 10th. Citigroup upped their price target on shares of Packaging Corporation of America from $197.00 to $214.00 and gave the company a "neutral" rating in a report on Friday, July 25th. Finally, Jefferies Financial Group lowered shares of Packaging Corporation of America from a "buy" rating to a "hold" rating and lowered their price target for the company 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. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $215.40.

Packaging Corporation of America Trading Down 1.6%

NYSE PKG traded down $3.06 during trading on Friday, hitting $193.46. The company had a trading volume of 797,523 shares, compared to its average volume of 668,462. The company has a current ratio of 3.54, a quick ratio of 2.32 and a debt-to-equity ratio of 0.54. Packaging Corporation of America has a one year low of $172.71 and a one year high of $250.82. The company has a market cap of $17.41 billion, a price-to-earnings ratio of 19.31, a price-to-earnings-growth ratio of 2.27 and a beta of 0.85. The company's fifty day moving average is $196.95 and its 200-day moving average is $196.45.

Packaging Corporation of America (NYSE:PKG - Get Free Report) last released its earnings results on Wednesday, July 23rd. The industrial products company reported $2.48 earnings per share for the quarter, topping analysts' consensus estimates of $2.44 by $0.04. The firm had revenue of $2.17 billion for the quarter, compared to the consensus estimate of $2.18 billion. Packaging Corporation of America had a net margin of 10.47% and a return on equity of 20.08%. The company's revenue was up 4.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.20 EPS. On average, sell-side analysts predict that Packaging Corporation of America will post 10.44 earnings per share for the current year.

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.