Janney Montgomery Scott LLC Increases Holdings in Packaging Corporation of America (NYSE:PKG)

Janney Montgomery Scott LLC lifted its holdings in Packaging Corporation of America (NYSE:PKG - Free Report) by 27.3% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 46,282 shares of the industrial products company's stock after acquiring an additional 9,921 shares during the period. Janney Montgomery Scott LLC owned 0.05% of Packaging Corporation of America worth $9,165,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in PKG. Centricity Wealth Management LLC bought a new position in shares of Packaging Corporation of America in the fourth quarter worth about $44,000. Lazard Asset Management LLC boosted its stake in shares of Packaging Corporation of America by 1,033.3% in the fourth quarter. Lazard Asset Management LLC now owns 204 shares of the industrial products company's stock worth $45,000 after acquiring an additional 186 shares during the period. Rialto Wealth Management LLC bought a new position in shares of Packaging Corporation of America in the fourth quarter worth about $63,000. Ameriflex Group Inc. bought a new position in shares of Packaging Corporation of America in the fourth quarter worth about $64,000. Finally, Intact Investment Management Inc. bought a new position in Packaging Corporation of America during the fourth quarter valued at approximately $68,000. Institutional investors own 89.78% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on PKG shares. Jefferies Financial Group lowered Packaging Corporation of America from a "buy" rating to a "hold" rating and lowered their price objective for the company from $245.00 to $205.00 in a research note on Monday, June 16th. Wall Street Zen downgraded Packaging Corporation of America from a "buy" rating to a "hold" rating in a report on Sunday, April 6th. UBS Group initiated coverage on Packaging Corporation of America in a report on Wednesday, June 4th. They issued a "neutral" rating and a $200.00 price target on the stock. Truist Financial lifted their price target on Packaging Corporation of America from $237.00 to $239.00 and gave the company a "buy" rating in a report on Tuesday. Finally, Wells Fargo & Company restated an "equal weight" rating and set a $180.00 target price (down from $205.00) on shares of Packaging Corporation of America in a research note on Friday, May 9th. Five investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, Packaging Corporation of America currently has an average rating of "Hold" and a consensus target price of $211.80.

Packaging Corporation of America Stock Performance

Shares of Packaging Corporation of America stock traded up $0.72 on Friday, hitting $186.95. The stock had a trading volume of 1,141,935 shares, compared to its average volume of 741,421. Packaging Corporation of America has a 52-week low of $172.72 and a 52-week high of $250.82. 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 market cap of $16.82 billion, a price-to-earnings ratio of 19.56, a P/E/G ratio of 2.47 and a beta of 0.84. The company's 50 day moving average price is $189.16 and its 200 day moving average price is $205.89.

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 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.21 by $0.10. The company 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%. On average, research analysts anticipate that Packaging Corporation of America will post 10.44 EPS for the current year.

Packaging Corporation of America Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Friday, June 13th will be paid a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a dividend yield of 2.67%. The ex-dividend date is Friday, June 13th. Packaging Corporation of America's dividend payout ratio (DPR) is 52.30%.

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.