Deutsche Bank AG Sells 31,370 Shares of Packaging Corporation of America (NYSE:PKG)

Key Points

• Deutsche Bank AG has reduced its stake in Packaging Corporation of America by 7.0%, holding approximately $82.70 million in shares following the sale of 31,370 shares.
• The company reported an earnings per share (EPS) of $2.48 for the last quarter, exceeding analysts' expectations, with revenue of $2.17 billion.
• Analysts have a consensus rating of "Hold" for the stock, with an average price target of $215.40.

Deutsche Bank AG reduced its stake in shares of Packaging Corporation of America (NYSE:PKG - Free Report) by 7.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 417,655 shares of the industrial products company's stock after selling 31,370 shares during the quarter. Deutsche Bank AG owned about 0.46% of Packaging Corporation of America worth $82,704,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the stock. Charles Schwab Investment Management Inc. grew its position in shares of Packaging Corporation of America by 6.6% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 3,272,704 shares of the industrial products company's stock worth $648,061,000 after buying an additional 202,755 shares during the period. Cary Street Partners Financial LLC grew its position in shares of Packaging Corporation of America by 0.7% in the 1st quarter. Cary Street Partners Financial LLC now owns 8,759 shares of the industrial products company's stock valued at $1,735,000 after purchasing an additional 59 shares during the period. Clearstead Trust LLC grew its position in shares of Packaging Corporation of America by 118.6% in the 1st quarter. Clearstead Trust LLC now owns 129 shares of the industrial products company's stock valued at $26,000 after purchasing an additional 70 shares during the period. Raiffeisen Bank International AG grew its position in shares of Packaging Corporation of America by 80.6% in the 1st quarter. Raiffeisen Bank International AG now owns 5,058 shares of the industrial products company's stock valued at $989,000 after purchasing an additional 2,258 shares during the period. Finally, Blair William & Co. IL grew its position in shares of Packaging Corporation of America by 7.4% in the 1st quarter. Blair William & Co. IL now owns 2,166 shares of the industrial products company's stock valued at $429,000 after purchasing an additional 149 shares during the period. 89.78% of the stock is currently owned by institutional investors and hedge funds.

Packaging Corporation of America Stock Up 0.9%

NYSE:PKG traded up $1.77 during trading hours on Wednesday, reaching $200.73. 483,893 shares of the stock were exchanged, compared to its average volume of 849,791. Packaging Corporation of America has a twelve month low of $172.71 and a twelve month high of $250.82. The company has a debt-to-equity ratio of 0.54, a current ratio of 3.54 and a quick ratio of 2.32. The firm has a 50 day moving average of $196.82 and a 200 day moving average of $197.16. The stock has a market cap of $18.06 billion, a PE ratio of 20.03, a PEG ratio of 2.31 and a beta of 0.85.

Packaging Corporation of America (NYSE:PKG - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The industrial products company reported $2.48 earnings per share for the quarter, topping analysts' consensus estimates of $2.44 by $0.04. Packaging Corporation of America had a return on equity of 20.08% and a net margin of 10.47%. The firm had revenue of $2.17 billion during the quarter, compared to the consensus estimate of $2.18 billion. During the same quarter in the prior year, the firm posted $2.20 EPS. The business's revenue was up 4.7% on a year-over-year basis. On average, equities analysts expect that Packaging Corporation of America will post 10.44 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Jefferies Financial Group lowered Packaging Corporation of America from a "buy" rating to a "hold" rating and decreased their price objective for the company from $245.00 to $205.00 in a research report on Monday, June 16th. Citigroup boosted their price objective on Packaging Corporation of America from $197.00 to $214.00 and gave the company a "neutral" rating in a research report on Friday, July 25th. UBS Group boosted their price objective on Packaging Corporation of America from $210.00 to $220.00 and gave the company a "neutral" rating in a research report on Tuesday, July 29th. Wells Fargo & Company boosted 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 report on Thursday, July 10th. Finally, Truist Financial decreased their price objective on Packaging Corporation of America from $239.00 to $238.00 and set a "buy" rating for the company in a research report on Friday, July 25th. Five analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $215.40.

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.