IFM Investors Pty Ltd Buys 1,394 Shares of Packaging Corporation of America (NYSE:PKG)

IFM Investors Pty Ltd grew its stake in shares of Packaging Corporation of America (NYSE:PKG - Free Report) by 8.2% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 18,344 shares of the industrial products company's stock after acquiring an additional 1,394 shares during the period. IFM Investors Pty Ltd's holdings in Packaging Corporation of America were worth $3,951,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Conning Inc. grew its position in shares of Packaging Corporation of America by 17.3% during the 1st quarter. Conning Inc. now owns 168,431 shares of the industrial products company's stock valued at $33,353,000 after acquiring an additional 24,829 shares during the period. Coastline Trust Co lifted its stake in shares of Packaging Corporation of America by 16.0% during the 1st quarter. Coastline Trust Co now owns 908 shares of the industrial products company's stock valued at $180,000 after buying an additional 125 shares in the last quarter. Keybank National Association OH lifted its stake in shares of Packaging Corporation of America by 1.7% during the 1st quarter. Keybank National Association OH now owns 12,103 shares of the industrial products company's stock valued at $2,397,000 after buying an additional 206 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in shares of Packaging Corporation of America by 0.8% during the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 10,635 shares of the industrial products company's stock valued at $2,106,000 after buying an additional 84 shares in the last quarter. Finally, Benchmark Financial Wealth Advisors LLC lifted its stake in shares of Packaging Corporation of America by 4.0% during the 1st quarter. Benchmark Financial Wealth Advisors LLC now owns 2,245 shares of the industrial products company's stock valued at $445,000 after buying an additional 86 shares in the last quarter. 89.78% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. Wells Fargo & Company restated an "equal weight" rating and set a $180.00 price target (down from $205.00) on shares of Packaging Corporation of America in a research note on Friday, May 9th. Jefferies Financial Group cut shares of Packaging Corporation of America from a "buy" rating to a "hold" rating and lowered their target price for the stock from $245.00 to $205.00 in a research note on Monday, June 16th. Wall Street Zen cut shares of Packaging Corporation of America from a "buy" rating to a "hold" rating in a research note on Sunday, April 6th. UBS Group initiated coverage on shares of Packaging Corporation of America in a research note on Wednesday, June 4th. They issued a "neutral" rating and a $200.00 target price on the stock. Finally, Truist Financial increased their target price on shares of Packaging Corporation of America from $237.00 to $239.00 and gave the stock a "buy" rating in a research note on Tuesday, June 17th. Five equities research 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 company has a consensus rating of "Hold" and a consensus target price of $211.80.

Packaging Corporation of America Trading Up 0.8%

Shares of PKG stock traded up $1.57 on Tuesday, hitting $202.84. 731,048 shares of the company's stock traded hands, compared to its average volume of 744,420. The company has a debt-to-equity ratio of 0.55, a quick ratio of 2.15 and a current ratio of 3.28. Packaging Corporation of America has a one year low of $172.72 and a one year high of $250.82. The company's fifty day simple moving average is $190.93 and its 200 day simple moving average is $202.48. The stock has a market capitalization of $18.25 billion, a price-to-earnings ratio of 21.22, a P/E/G ratio of 2.67 and a beta of 0.82.

Packaging Corporation of America (NYSE:PKG - Get Free Report) last released its earnings results on Tuesday, April 22nd. The industrial products company reported $2.31 EPS for the quarter, beating the consensus estimate of $2.21 by $0.10. The company had revenue of $2.14 billion for 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 analysts forecast that Packaging Corporation of America will post 10.44 EPS for the current year.

Packaging Corporation of America Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders 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 yield of 2.46%. The ex-dividend date of this dividend is Friday, June 13th. Packaging Corporation of America's dividend payout ratio (DPR) is presently 52.30%.

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.