Brookstone Capital Management Grows Position in Packaging Corporation of America (NYSE:PKG)

Brookstone Capital Management grew its stake in Packaging Corporation of America (NYSE:PKG - Free Report) by 718.0% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,086 shares of the industrial products company's stock after purchasing an additional 8,853 shares during the period. Brookstone Capital Management's holdings in Packaging Corporation of America were worth $1,997,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Alpine Bank Wealth Management acquired a new position in shares of Packaging Corporation of America during the 1st quarter worth approximately $39,000. Lazard Asset Management LLC raised its stake in shares of Packaging Corporation of America by 1,033.3% during the 4th quarter. Lazard Asset Management LLC now owns 204 shares of the industrial products company's stock worth $45,000 after buying an additional 186 shares during the period. Rialto Wealth Management LLC acquired a new position in shares of Packaging Corporation of America during the 4th quarter worth approximately $63,000. Intact Investment Management Inc. acquired a new position in shares of Packaging Corporation of America during the 4th quarter worth approximately $68,000. Finally, Ameriflex Group Inc. acquired a new position in shares of Packaging Corporation of America during the 4th quarter worth approximately $64,000. Hedge funds and other institutional investors own 89.78% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. 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 research note on Tuesday, June 17th. Wells Fargo & Company reaffirmed an "equal weight" rating and set a $180.00 target price (down from $205.00) on shares of Packaging Corporation of America in a research note on Friday, May 9th. UBS Group began coverage on Packaging Corporation of America in a research note on Wednesday, June 4th. They set a "neutral" rating and a $200.00 target price for the company. Wall Street Zen downgraded Packaging Corporation of America from a "buy" rating to a "hold" rating in a research note on Sunday, April 6th. Finally, 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. Five equities research analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $211.80.

Packaging Corporation of America Stock Up 0.2%

NYSE PKG opened at $202.29 on Monday. The business has a fifty day moving average price of $190.63 and a 200 day moving average price of $202.67. Packaging Corporation of America has a one year low of $172.72 and a one year high of $250.82. The company has a debt-to-equity ratio of 0.55, a quick ratio of 2.15 and a current ratio of 3.28. The company has a market cap of $18.20 billion, a P/E ratio of 21.16, a P/E/G ratio of 2.67 and a beta of 0.82.

Packaging Corporation of America (NYSE:PKG - Get Free Report) last posted its quarterly earnings data on Tuesday, April 22nd. The industrial products company reported $2.31 EPS 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 during the quarter, compared to the consensus estimate of $2.12 billion. Research analysts anticipate that Packaging Corporation of America will post 10.44 EPS for the current fiscal year.

Packaging Corporation of America Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Friday, June 13th will be paid a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.47%. The ex-dividend date is Friday, June 13th. Packaging Corporation of America's dividend payout ratio (DPR) is presently 52.30%.

Packaging Corporation of America 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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