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

IFM Investors Pty Ltd lifted its stake in Packaging Corporation of America (NYSE:PKG - Free Report) by 8.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,344 shares of the industrial products company's stock after buying an additional 1,394 shares during the period. IFM Investors Pty Ltd's holdings in Packaging Corporation of America were worth $3,951,000 as of its most recent SEC filing.

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

Packaging Corporation of America Stock Up 0.7%

NYSE PKG traded up $1.38 on Wednesday, hitting $204.15. 738,306 shares of the stock traded hands, compared to its average volume of 746,646. The company has a current ratio of 3.28, a quick ratio of 2.15 and a debt-to-equity ratio of 0.55. The stock has a 50-day moving average of $191.63 and a 200 day moving average of $202.49. The company has a market capitalization of $18.37 billion, a P/E ratio of 21.35, a price-to-earnings-growth ratio of 2.68 and a beta of 0.82. Packaging Corporation of America has a twelve month low of $172.72 and a twelve month high of $250.82.

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 for the quarter, topping analysts' consensus estimates of $2.21 by $0.10. The business had revenue of $2.14 billion for the quarter, compared to analysts' expectations 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, analysts expect that Packaging Corporation of America will post 10.44 earnings per share for the current fiscal year.

Packaging Corporation of America Dividend Announcement

The business also recently declared 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 dividend on an annualized basis and a dividend yield of 2.45%. The ex-dividend date is Friday, June 13th. Packaging Corporation of America's payout ratio is 52.30%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. 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 research report on Wednesday. Wells Fargo & Company restated an "equal weight" rating and set a $180.00 price objective (down previously from $205.00) on shares of Packaging Corporation of America in a research note on Friday, May 9th. Truist Financial upped their price objective on Packaging Corporation of America from $237.00 to $239.00 and gave the company a "buy" rating in a research note on Tuesday, June 17th. 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 cut their price objective for the company from $245.00 to $205.00 in a research note on Monday, June 16th. Five equities research 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 company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $213.80.

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.