Consolidated Planning Corp Invests $1.13 Million in Packaging Corporation of America (NYSE:PKG)

Consolidated Planning Corp bought a new position in Packaging Corporation of America (NYSE:PKG - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 5,681 shares of the industrial products company's stock, valued at approximately $1,125,000.

Several other institutional investors have also recently made changes to their positions in the company. Lazard Asset Management LLC increased its stake in Packaging Corporation of America by 1,033.3% in 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 purchased a new position in Packaging Corporation of America in the 4th quarter worth about $63,000. Ameriflex Group Inc. purchased a new position in Packaging Corporation of America in the 4th quarter worth about $64,000. Intact Investment Management Inc. purchased a new position in Packaging Corporation of America in the 4th quarter worth about $68,000. Finally, Global Retirement Partners LLC increased its stake in Packaging Corporation of America by 83.8% in the 4th quarter. Global Retirement Partners LLC now owns 307 shares of the industrial products company's stock worth $69,000 after buying an additional 140 shares during the period. Institutional investors own 89.78% of the company's stock.

Packaging Corporation of America Trading Up 0.4%

NYSE PKG opened at $186.95 on Monday. 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 capitalization of $16.82 billion, a price-to-earnings ratio of 19.56, a price-to-earnings-growth ratio of 2.47 and a beta of 0.84. The company's 50-day simple moving average is $189.16 and its two-hundred day simple moving average is $205.62. Packaging Corporation of America has a one year low of $172.72 and a one year high of $250.82.

Packaging Corporation of America (NYSE:PKG - Get Free Report) last posted its earnings results on Tuesday, April 22nd. The industrial products company reported $2.31 EPS for the quarter, beating analysts' consensus estimates of $2.21 by $0.10. The business had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $2.12 billion. Packaging Corporation of America had a net margin of 10.09% and a return on equity of 20.08%. Equities analysts forecast that Packaging Corporation of America will post 10.44 EPS for the current fiscal 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. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.67%. The ex-dividend date is Friday, June 13th. Packaging Corporation of America's payout ratio is currently 52.30%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Truist Financial raised their price target on shares of 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. Jefferies Financial Group downgraded shares of Packaging Corporation of America from a "buy" rating to a "hold" rating and reduced their price target for the stock from $245.00 to $205.00 in a research note on Monday, June 16th. UBS Group assumed coverage on shares of Packaging Corporation of America in a research note on Wednesday, June 4th. They issued a "neutral" rating and a $200.00 price target on the stock. Wells Fargo & Company reaffirmed an "equal weight" rating and issued a $180.00 price target (down previously 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 research report on Sunday, April 6th. Five analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average 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.

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