Cwm LLC Buys 1,917 Shares of Packaging Corporation of America (NYSE:PKG)

CWM LLC raised its holdings in Packaging Corporation of America (NYSE:PKG - Free Report) by 19.5% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 11,764 shares of the industrial products company's stock after acquiring an additional 1,917 shares during the period. CWM LLC's holdings in Packaging Corporation of America were worth $2,329,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Alpine Bank Wealth Management purchased a new position in shares of Packaging Corporation of America in the 1st quarter worth $39,000. Lazard Asset Management LLC raised its position in shares of 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. HM Payson & Co. raised its position in shares of Packaging Corporation of America by 54.8% in the 1st quarter. HM Payson & Co. now owns 240 shares of the industrial products company's stock worth $48,000 after buying an additional 85 shares during the period. Ameriflex Group Inc. acquired a new stake in Packaging Corporation of America in the 4th quarter valued at $64,000. Finally, Exchange Traded Concepts LLC increased its holdings in Packaging Corporation of America by 20.6% in the 1st quarter. Exchange Traded Concepts LLC now owns 387 shares of the industrial products company's stock valued at $77,000 after purchasing an additional 66 shares in the last quarter. 89.78% of the stock is currently owned by institutional investors and hedge funds.

Packaging Corporation of America Stock Down 1.2%

Shares of NYSE:PKG traded down $2.42 during trading on Friday, reaching $199.82. 913,585 shares of the company traded hands, compared to its average volume of 748,507. The company has a quick ratio of 2.15, a current ratio of 3.28 and a debt-to-equity ratio of 0.55. Packaging Corporation of America has a 1-year low of $172.72 and a 1-year high of $250.82. The firm has a fifty day simple moving average of $194.52 and a 200 day simple moving average of $201.16. The firm has a market cap of $17.98 billion, a P/E ratio of 20.90, a price-to-earnings-growth ratio of 2.64 and a beta of 0.82.

Packaging Corporation of America (NYSE:PKG - Get Free Report) last announced its earnings results on Tuesday, April 22nd. The industrial products company reported $2.31 EPS for the quarter, topping the consensus estimate of $2.21 by $0.10. The firm 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%. Analysts anticipate that Packaging Corporation of America will post 10.44 earnings per share for the current fiscal year.

Packaging Corporation of America Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Friday, June 13th were paid a $1.25 dividend. The ex-dividend date was Friday, June 13th. This represents a $5.00 dividend on an annualized basis and a yield of 2.50%. Packaging Corporation of America's payout ratio is currently 52.30%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on PKG. Truist Financial upped their price objective on Packaging Corporation of America from $237.00 to $239.00 and gave the company a "buy" rating in a research note on Tuesday, June 17th. 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. Jefferies Financial Group cut shares of Packaging Corporation of America from a "buy" rating to a "hold" rating and cut their target price for the stock from $245.00 to $205.00 in a report on Monday, June 16th. UBS Group lifted their price target on Packaging Corporation of America from $200.00 to $210.00 and gave the company a "neutral" rating in a report on Wednesday, July 9th. Finally, Wells Fargo & Company lifted their price target on 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. Five research analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $217.80.

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.