Dimensional Fund Advisors LP Acquires 60,710 Shares of Packaging Corporation of America $PKG

Dimensional Fund Advisors LP increased its holdings in shares of Packaging Corporation of America (NYSE:PKG - Free Report) by 5.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,248,739 shares of the industrial products company's stock after purchasing an additional 60,710 shares during the period. Dimensional Fund Advisors LP owned approximately 1.39% of Packaging Corporation of America worth $247,240,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of PKG. Clearstead Trust LLC increased its position in shares of Packaging Corporation of America by 118.6% during the first quarter. Clearstead Trust LLC now owns 129 shares of the industrial products company's stock worth $26,000 after acquiring an additional 70 shares in the last quarter. TCTC Holdings LLC boosted its stake in Packaging Corporation of America by 86.4% in the 1st quarter. TCTC Holdings LLC now owns 151 shares of the industrial products company's stock worth $30,000 after purchasing an additional 70 shares during the period. Alpine Bank Wealth Management bought a new position in Packaging Corporation of America during the 1st quarter worth about $39,000. Banque Cantonale Vaudoise acquired a new position in shares of Packaging Corporation of America during the first quarter worth about $40,000. Finally, Manchester Capital Management LLC grew its holdings in shares of Packaging Corporation of America by 39.0% during the first quarter. Manchester Capital Management LLC now owns 203 shares of the industrial products company's stock worth $40,000 after buying an additional 57 shares in the last quarter. 89.78% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PKG has been the subject of a number of recent research reports. Citigroup upped their price target on Packaging Corporation of America from $197.00 to $214.00 and gave the stock a "neutral" rating in a research report on Friday, July 25th. Wells Fargo & Company boosted their price objective on shares of Packaging Corporation of America from $180.00 to $200.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 10th. UBS Group raised their target price on shares of 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. Jefferies Financial Group lowered shares of Packaging Corporation of America from a "buy" rating to a "hold" rating and lowered their price target for the company from $245.00 to $205.00 in a research note on Monday, June 16th. Finally, Truist Financial reduced their price objective on shares of Packaging Corporation of America from $239.00 to $238.00 and set a "buy" rating for the company in a research note on Friday, July 25th. Five analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $215.40.

Packaging Corporation of America Price Performance

Shares of PKG opened at $193.46 on Monday. The company has a current ratio of 3.54, a quick ratio of 2.32 and a debt-to-equity ratio of 0.54. The company's fifty day simple moving average is $196.95 and its 200 day simple moving average is $196.33. Packaging Corporation of America has a 1-year low of $172.71 and a 1-year high of $250.82. The company has a market cap of $17.41 billion, a price-to-earnings ratio of 19.31, a PEG ratio of 2.27 and a beta of 0.85.

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

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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