Jefferies Financial Group Inc. Takes Position in Packaging Corporation of America (NYSE:PKG)

Key Points

• Jefferies Financial Group Inc. acquired 9,095 shares of Packaging Corporation of America (NYSE:PKG) valued at approximately $1.8 million in the first quarter.
• Multiple institutional investors, including GAMMA Investing LLC and Balyasny Asset Management L.P., have significantly increased their positions in Packaging Corporation of America, highlighting strong institutional interest in the stock.
• Analysts have mixed views on the stock, with recent price targets ranging from $200 to $220, and a consensus rating of "Hold" with an average price target of $215.40.

Jefferies Financial Group Inc. bought a new position in Packaging Corporation of America (NYSE:PKG - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 9,095 shares of the industrial products company's stock, valued at approximately $1,801,000.

Several other hedge funds have also added to or reduced their stakes in PKG. Orion Portfolio Solutions LLC lifted its stake in Packaging Corporation of America by 25.9% in the fourth quarter. Orion Portfolio Solutions LLC now owns 4,761 shares of the industrial products company's stock worth $1,072,000 after purchasing an additional 980 shares during the last quarter. Wellington Management Group LLP increased its position in shares of Packaging Corporation of America by 134.1% during the fourth quarter. Wellington Management Group LLP now owns 28,260 shares of the industrial products company's stock valued at $6,362,000 after buying an additional 16,190 shares during the period. Resona Asset Management Co. Ltd. purchased a new stake in Packaging Corporation of America in the fourth quarter worth about $5,865,000. Waterloo Capital L.P. grew its holdings in Packaging Corporation of America by 2.4% in the fourth quarter. Waterloo Capital L.P. now owns 5,144 shares of the industrial products company's stock worth $1,158,000 after purchasing an additional 120 shares during the period. Finally, Sierra Summit Advisors LLC grew its holdings in shares of Packaging Corporation of America by 23.1% during the fourth quarter. Sierra Summit Advisors LLC now owns 5,075 shares of the industrial products company's stock valued at $1,143,000 after buying an additional 953 shares during the last quarter. 89.78% of the stock is owned by institutional investors.

Packaging Corporation of America Price Performance

PKG traded up $0.34 during trading on Tuesday, hitting $193.42. 505,569 shares of the company traded hands, compared to its average volume of 703,476. The company has a market cap of $17.40 billion, a PE ratio of 19.30, a P/E/G ratio of 2.27 and a beta of 0.85. The stock's 50-day simple moving average is $196.54 and its two-hundred day simple moving average is $198.73. Packaging Corporation of America has a 1 year low of $172.71 and a 1 year 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.

Packaging Corporation of America (NYSE:PKG - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The industrial products company reported $2.48 EPS for the quarter, topping analysts' consensus estimates of $2.44 by $0.04. Packaging Corporation of America had a net margin of 10.47% and a return on equity of 20.36%. The business had revenue of $2.17 billion during the quarter, compared to analysts' expectations of $2.18 billion. During the same period last year, the company posted $2.20 EPS. The business's revenue was up 4.7% on a year-over-year basis. As a group, sell-side analysts anticipate that Packaging Corporation of America will post 10.44 earnings per share for the current fiscal year.

Packaging Corporation of America Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Friday, June 13th were given a $1.25 dividend. This represents a $5.00 annualized dividend and a dividend yield of 2.6%. The ex-dividend date of this dividend was Friday, June 13th. Packaging Corporation of America's dividend payout ratio is presently 49.90%.

Wall Street Analysts Forecast Growth

PKG has been the topic of several recent research reports. Citigroup increased their price target on shares of 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. Truist Financial decreased their price target on shares of Packaging Corporation of America from $239.00 to $238.00 and set a "buy" rating on the stock in a research report on Friday, July 25th. UBS Group increased their price target on shares of Packaging Corporation of America from $210.00 to $220.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 29th. Jefferies Financial Group downgraded shares of Packaging Corporation of America from a "buy" rating to a "hold" rating and decreased their price target for the stock from $245.00 to $205.00 in a research report on Monday, June 16th. Finally, Wells Fargo & Company increased their price target 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. Five analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Packaging Corporation of America presently has an average rating of "Hold" and a consensus target price of $215.40.

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.