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

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

A number of other hedge funds and other institutional investors have also made changes to their positions in PKG. Stiles Financial Services Inc boosted its position in shares of Packaging Corporation of America by 2.8% in the 1st quarter. Stiles Financial Services Inc now owns 5,703 shares of the industrial products company's stock valued at $1,130,000 after purchasing an additional 156 shares during the period. Buck Wealth Strategies LLC lifted its stake in Packaging Corporation of America by 27.9% in the first quarter. Buck Wealth Strategies LLC now owns 4,882 shares of the industrial products company's stock valued at $967,000 after buying an additional 1,064 shares during the last quarter. Praxis Investment Management Inc. boosted its holdings in shares of Packaging Corporation of America by 15.8% in the first quarter. Praxis Investment Management Inc. now owns 3,590 shares of the industrial products company's stock valued at $711,000 after acquiring an additional 490 shares during the period. Blue Trust Inc. boosted its holdings in shares of Packaging Corporation of America by 20.1% in the first quarter. Blue Trust Inc. now owns 2,371 shares of the industrial products company's stock valued at $469,000 after acquiring an additional 397 shares during the period. Finally, State of Alaska Department of Revenue grew its position in shares of Packaging Corporation of America by 2.8% during the first quarter. State of Alaska Department of Revenue now owns 10,448 shares of the industrial products company's stock worth $2,068,000 after acquiring an additional 280 shares during the last quarter. Institutional investors and hedge funds own 89.78% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Wells Fargo & Company reiterated 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 report on Friday, May 9th. Wall Street Zen cut shares of Packaging Corporation of America from a "buy" rating to a "hold" rating in a report on Sunday, April 6th. Truist Financial raised their price target 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 issued a "neutral" rating and a $200.00 price target on the stock. Finally, Jefferies Financial Group cut Packaging Corporation of America from a "buy" rating to a "hold" rating and decreased their price objective for the stock from $245.00 to $205.00 in a research report on Monday, June 16th. Five 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 stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $211.80.

Packaging Corporation of America Stock Performance

Shares of PKG stock traded up $0.97 during mid-day trading on Thursday, hitting $187.81. The stock had a trading volume of 560,605 shares, compared to its average volume of 741,339. The firm has a market cap of $16.90 billion, a PE ratio of 19.65, a PEG ratio of 2.47 and a beta of 0.84. The company's 50-day simple moving average is $189.17 and its 200-day simple moving average is $204.65. The company has a debt-to-equity ratio of 0.55, a current ratio of 3.28 and a quick ratio of 2.15. Packaging Corporation of America has a fifty-two week low of $172.72 and a fifty-two week high of $250.82.

Packaging Corporation of America (NYSE:PKG - Get Free Report) last posted its quarterly earnings results on Tuesday, April 22nd. The industrial products company reported $2.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.21 by $0.10. Packaging Corporation of America had a net margin of 10.09% and a return on equity of 20.08%. The firm had revenue of $2.14 billion during the quarter, compared to analysts' expectations of $2.12 billion. Sell-side analysts anticipate that Packaging Corporation of America will post 10.44 earnings per share for the current year.

Packaging Corporation of America Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Friday, June 13th will be issued a $1.25 dividend. The ex-dividend date is Friday, June 13th. This represents a $5.00 annualized dividend and a dividend yield of 2.66%. Packaging Corporation of America's dividend payout ratio 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.