DekaBank Deutsche Girozentrale Acquires 3,101 Shares of Packaging Corporation of America (NYSE:PKG)

DekaBank Deutsche Girozentrale lifted its holdings in shares of Packaging Corporation of America (NYSE:PKG - Free Report) by 1.4% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 224,273 shares of the industrial products company's stock after buying an additional 3,101 shares during the period. DekaBank Deutsche Girozentrale owned about 0.25% of Packaging Corporation of America worth $43,378,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of PKG. Norges Bank acquired a new position in shares of Packaging Corporation of America during the 4th quarter worth $258,928,000. GAMMA Investing LLC increased its holdings in Packaging Corporation of America by 25,461.0% in the 1st quarter. GAMMA Investing LLC now owns 621,387 shares of the industrial products company's stock worth $123,047,000 after purchasing an additional 618,956 shares in the last quarter. Balyasny Asset Management L.P. increased its holdings in Packaging Corporation of America by 106.7% in the 4th quarter. Balyasny Asset Management L.P. now owns 848,395 shares of the industrial products company's stock worth $190,999,000 after purchasing an additional 438,012 shares in the last quarter. Select Equity Group L.P. acquired a new position in Packaging Corporation of America in the 4th quarter worth about $72,339,000. Finally, Point72 Asset Management L.P. increased its holdings in Packaging Corporation of America by 642.7% in the 4th quarter. Point72 Asset Management L.P. now owns 271,806 shares of the industrial products company's stock worth $61,192,000 after purchasing an additional 235,211 shares in the last quarter. Institutional investors and hedge funds own 89.78% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on PKG shares. UBS Group upped their target price on Packaging Corporation of America from $200.00 to $210.00 and gave the stock a "neutral" rating in a report on Wednesday. Truist Financial upped their target price 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. Wells Fargo & Company reaffirmed an "equal weight" rating and issued a $180.00 target price (down previously from $205.00) on shares of Packaging Corporation of America in a report on Friday, May 9th. Wall Street Zen cut Packaging Corporation of America from a "buy" rating to a "hold" rating in a research note on Sunday, April 6th. Finally, Jefferies Financial Group cut Packaging Corporation of America from a "buy" rating to a "hold" rating and decreased their price target for the company from $245.00 to $205.00 in a research note on Monday, June 16th. Five 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, Packaging Corporation of America has a consensus rating of "Hold" and a consensus price target of $213.80.

Packaging Corporation of America Trading Up 0.7%

Shares of Packaging Corporation of America stock traded up $1.38 on Wednesday, hitting $204.15. 738,306 shares of the company's stock traded hands, compared to its average volume of 745,704. Packaging Corporation of America has a one year low of $172.72 and a one year high of $250.82. 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 fifty day moving average of $191.26 and a two-hundred day moving average of $202.48. The company has a market capitalization of $18.37 billion, a price-to-earnings ratio of 21.35, a price-to-earnings-growth ratio of 2.66 and a beta of 0.82.

Packaging Corporation of America (NYSE:PKG - Get Free Report) last announced 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. The business had revenue of $2.14 billion for the quarter, compared to analyst estimates 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, sell-side analysts expect that Packaging Corporation of America will post 10.44 earnings per share for the current year.

Packaging Corporation of America Dividend Announcement

The business also recently announced 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 dividend on an annualized basis and a dividend yield of 2.45%. Packaging Corporation of America's dividend payout ratio is presently 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.