Dakota Wealth Management Has $342,000 Stake in Packaging Corporation of America (NYSE:PKG)

Dakota Wealth Management trimmed its holdings in shares of Packaging Corporation of America (NYSE:PKG - Free Report) by 70.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,723 shares of the industrial products company's stock after selling 4,205 shares during the period. Dakota Wealth Management's holdings in Packaging Corporation of America were worth $342,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Exchange Traded Concepts LLC boosted its stake in shares of Packaging Corporation of America by 20.6% during the first 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 during the period. Meiji Yasuda Asset Management Co Ltd. boosted its position in Packaging Corporation of America by 1.9% in the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 3,771 shares of the industrial products company's stock worth $849,000 after purchasing an additional 70 shares during the last quarter. Avidian Wealth Enterprises LLC lifted its position in shares of Packaging Corporation of America by 6.1% during the 1st quarter. Avidian Wealth Enterprises LLC now owns 1,308 shares of the industrial products company's stock valued at $259,000 after buying an additional 75 shares in the last quarter. Colonial Trust Co SC lifted its holdings in Packaging Corporation of America by 3.9% in the 4th quarter. Colonial Trust Co SC now owns 2,071 shares of the industrial products company's stock worth $466,000 after purchasing an additional 78 shares in the last quarter. Finally, Nissay Asset Management Corp Japan ADV increased its stake in Packaging Corporation of America by 0.7% in the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 10,857 shares of the industrial products company's stock worth $2,466,000 after acquiring an additional 80 shares during the last quarter. 89.78% of the stock is currently owned by institutional investors.

Packaging Corporation of America Stock Performance

Shares of PKG stock opened at $202.40 on Friday. Packaging Corporation of America has a one year low of $172.72 and a one year high of $250.82. The firm has a 50-day moving average of $194.15 and a 200-day moving average of $201.50. 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 $18.21 billion, a P/E ratio of 21.17, a P/E/G ratio of 2.68 and a beta of 0.82.

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 EPS for the quarter, beating analysts' consensus estimates of $2.21 by $0.10. The company had revenue of $2.14 billion during the quarter, compared to analyst estimates of $2.12 billion. Packaging Corporation of America had a net margin of 10.09% and a return on equity of 20.08%. Equities research analysts forecast 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 disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Friday, June 13th were issued a dividend of $1.25 per share. The ex-dividend date of this dividend was Friday, June 13th. This represents a $5.00 annualized dividend and a dividend yield of 2.47%. Packaging Corporation of America's dividend payout ratio (DPR) is currently 52.30%.

Analysts Set New Price Targets

Several research firms have recently weighed in on PKG. UBS Group raised their target price on Packaging Corporation of America from $200.00 to $210.00 and gave the company a "neutral" rating in a research report on Wednesday, July 9th. Wells Fargo & Company lifted their price objective on Packaging Corporation of America from $180.00 to $200.00 and gave the company an "equal weight" rating in a research note on Thursday, July 10th. Jefferies Financial Group lowered Packaging Corporation of America from a "buy" rating to a "hold" rating and decreased their target price for the company from $245.00 to $205.00 in a report on Monday, June 16th. Truist Financial lifted their target price on Packaging Corporation of America from $237.00 to $239.00 and gave the company a "buy" rating in a report on Tuesday, June 17th. Finally, Wall Street Zen downgraded 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 assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $217.80.

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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