DekaBank Deutsche Girozentrale Increases Stake in Packaging Corporation of America (NYSE:PKG)

DekaBank Deutsche Girozentrale lifted its stake in shares of Packaging Corporation of America (NYSE:PKG - Free Report) by 1.4% in the first quarter, according to its most recent filing with the SEC. The fund owned 224,273 shares of the industrial products company's stock after acquiring an additional 3,101 shares during the period. DekaBank Deutsche Girozentrale owned approximately 0.25% of Packaging Corporation of America worth $43,378,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in PKG. Vanguard Group Inc. boosted its holdings in shares of Packaging Corporation of America by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 11,423,715 shares of the industrial products company's stock worth $2,571,821,000 after purchasing an additional 133,575 shares during the period. Geode Capital Management LLC lifted its position in Packaging Corporation of America by 1.3% during the 4th quarter. Geode Capital Management LLC now owns 2,366,723 shares of the industrial products company's stock valued at $531,540,000 after acquiring an additional 29,427 shares during the period. Invesco Ltd. lifted its position in Packaging Corporation of America by 0.8% during the 4th quarter. Invesco Ltd. now owns 1,853,092 shares of the industrial products company's stock valued at $417,187,000 after acquiring an additional 14,775 shares during the period. Boston Partners increased its position in Packaging Corporation of America by 7.0% during the 4th quarter. Boston Partners now owns 1,565,351 shares of the industrial products company's stock valued at $352,305,000 after buying an additional 101,755 shares in the last quarter. Finally, Norges Bank bought a new position in Packaging Corporation of America during the 4th quarter valued at approximately $258,928,000. Institutional investors own 89.78% of the company's stock.

Packaging Corporation of America Price Performance

PKG traded down $1.34 on Friday, hitting $205.90. 432,717 shares of the company's stock traded hands, compared to its average volume of 746,284. The firm has a market cap of $18.53 billion, a price-to-earnings ratio of 21.54, a P/E/G ratio of 2.70 and a beta of 0.82. The company has a current ratio of 3.28, a quick ratio of 2.15 and a debt-to-equity ratio of 0.55. Packaging Corporation of America has a one year low of $172.72 and a one year high of $250.82. The company's 50 day simple moving average is $192.11 and its 200-day simple moving average is $202.36.

Packaging Corporation of America (NYSE:PKG - Get Free Report) last released its quarterly earnings results on Tuesday, April 22nd. The industrial products company reported $2.31 earnings per share for the quarter, beating the consensus estimate of $2.21 by $0.10. The business had revenue of $2.14 billion during the quarter, compared to analysts' expectations of $2.12 billion. Packaging Corporation of America had a return on equity of 20.08% and a net margin of 10.09%. As a group, research analysts anticipate that Packaging Corporation of America will post 10.44 EPS 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. Investors of record on Friday, June 13th will be issued a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.43%. The ex-dividend date is Friday, June 13th. Packaging Corporation of America's payout ratio is 52.30%.

Wall Street Analysts Forecast Growth

PKG has been the topic of several recent analyst reports. Wells Fargo & Company increased their target price 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. Jefferies Financial Group cut shares of Packaging Corporation of America from a "buy" rating to a "hold" rating and dropped their target price for the stock from $245.00 to $205.00 in a report on Monday, June 16th. Truist Financial increased 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. 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. Finally, UBS Group boosted 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. Five investment 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. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price 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.