Cambridge Investment Research Advisors Inc. Lowers Position in Packaging Corporation of America (NYSE:PKG)

Cambridge Investment Research Advisors Inc. trimmed its position in shares of Packaging Corporation of America (NYSE:PKG - Free Report) by 9.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 14,311 shares of the industrial products company's stock after selling 1,413 shares during the quarter. Cambridge Investment Research Advisors Inc.'s holdings in Packaging Corporation of America were worth $2,834,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Jackson Creek Investment Advisors LLC bought a new position in Packaging Corporation of America during the fourth quarter valued at about $293,000. AlphaQuest LLC boosted its stake in Packaging Corporation of America by 25.3% in the fourth quarter. AlphaQuest LLC now owns 9,683 shares of the industrial products company's stock valued at $2,180,000 after acquiring an additional 1,954 shares during the last quarter. Distillate Capital Partners LLC bought a new position in shares of Packaging Corporation of America during the 4th quarter valued at approximately $15,828,000. Sciencast Management LP bought a new position in shares of Packaging Corporation of America during the 4th quarter valued at approximately $2,853,000. Finally, Korea Investment CORP increased its stake in shares of Packaging Corporation of America by 96.0% during the 4th quarter. Korea Investment CORP now owns 71,004 shares of the industrial products company's stock worth $15,985,000 after purchasing an additional 34,784 shares during the last quarter. Hedge funds and other institutional investors own 89.78% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on PKG. Jefferies Financial Group downgraded 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. 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. UBS Group assumed coverage on Packaging Corporation of America in a research note on Wednesday, June 4th. They set a "neutral" rating and a $200.00 price target for the company. Wells Fargo & Company restated an "equal weight" rating and issued a $180.00 price objective (down from $205.00) on shares of Packaging Corporation of America in a research note on Friday, May 9th. Finally, Wall Street Zen downgraded shares of Packaging Corporation of America from a "buy" rating to a "hold" rating in a report on Sunday, April 6th. Five investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average price target of $211.80.

Packaging Corporation of America Stock Performance

Shares of NYSE:PKG traded down $1.01 during trading on Wednesday, hitting $201.75. 108,832 shares of the company were exchanged, compared to its average volume of 741,345. Packaging Corporation of America has a 52-week low of $172.72 and a 52-week high of $250.82. The stock has a 50 day moving average of $189.67 and a 200 day moving average of $203.48. The company has a debt-to-equity ratio of 0.55, a current ratio of 3.28 and a quick ratio of 2.15. The company has a market cap of $18.15 billion, a PE ratio of 21.11, a P/E/G ratio of 2.49 and a beta of 0.83.

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, 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 business had revenue of $2.14 billion for the quarter, compared to analysts' expectations of $2.12 billion. As a group, equities research analysts predict 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. Stockholders of record on Friday, June 13th will be given a $1.25 dividend. The ex-dividend date is Friday, June 13th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.48%. Packaging Corporation of America's dividend payout ratio (DPR) is currently 52.30%.

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.