IFM Investors Pty Ltd Grows Position in Packaging Corporation of America (NYSE:PKG)

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

A number of other hedge funds have also modified their holdings of the business. EverSource Wealth Advisors LLC grew its holdings in shares of Packaging Corporation of America by 1.8% during the 4th quarter. EverSource Wealth Advisors LLC now owns 3,637 shares of the industrial products company's stock worth $819,000 after purchasing an additional 66 shares during the period. Exchange Traded Concepts LLC lifted its stake in Packaging Corporation of America by 20.6% during the 1st quarter. Exchange Traded Concepts LLC now owns 387 shares of the industrial products company's stock worth $77,000 after acquiring an additional 66 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. lifted its stake in Packaging Corporation of America by 1.9% during the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 3,771 shares of the industrial products company's stock worth $849,000 after acquiring an additional 70 shares in the last quarter. Avidian Wealth Enterprises LLC lifted its stake in Packaging Corporation of America by 6.1% during the 1st quarter. Avidian Wealth Enterprises LLC now owns 1,308 shares of the industrial products company's stock worth $259,000 after acquiring an additional 75 shares in the last quarter. Finally, Colonial Trust Co SC lifted its stake in Packaging Corporation of America by 3.9% during the 4th quarter. Colonial Trust Co SC now owns 2,071 shares of the industrial products company's stock worth $466,000 after acquiring an additional 78 shares in the last quarter. 89.78% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on PKG shares. Wells Fargo & Company increased their target price on Packaging Corporation of America from $180.00 to $200.00 and gave the stock an "equal weight" rating in a research note on Thursday. Truist Financial increased their target price on 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. UBS Group increased their target price on Packaging Corporation of America from $200.00 to $210.00 and gave the stock a "neutral" rating in a research note on Wednesday. Wall Street Zen lowered Packaging Corporation of America from a "buy" rating to a "hold" rating in a research report on Sunday, April 6th. Finally, Jefferies Financial Group lowered Packaging Corporation of America from a "buy" rating to a "hold" rating and reduced their price target for the company from $245.00 to $205.00 in a research report on Monday, June 16th. Five 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. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $217.80.

Packaging Corporation of America Stock Up 1.6%

PKG stock traded up $3.18 during mid-day trading on Thursday, reaching $207.26. The company had a trading volume of 655,322 shares, compared to its average volume of 746,282. 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 fifty-two week low of $172.72 and a fifty-two week high of $250.82. The company has a market capitalization of $18.65 billion, a price-to-earnings ratio of 21.68, a price-to-earnings-growth ratio of 2.68 and a beta of 0.82. The firm has a fifty day simple moving average of $191.63 and a 200 day simple moving average of $202.49.

Packaging Corporation of America (NYSE:PKG - Get Free Report) last issued its earnings results on Tuesday, April 22nd. The industrial products company reported $2.31 earnings per share for the quarter, topping the consensus estimate of $2.21 by $0.10. Packaging Corporation of America had a return on equity of 20.08% and a net margin of 10.09%. The business had revenue of $2.14 billion for the quarter, compared to analyst estimates of $2.12 billion. Analysts forecast that Packaging Corporation of America will post 10.44 earnings per share for the current fiscal year.

Packaging Corporation of America Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Friday, June 13th will be given a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a dividend yield of 2.41%. The ex-dividend date of this dividend is Friday, June 13th. Packaging Corporation of America's dividend payout ratio (DPR) is presently 52.30%.

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.