KBC Group NV Grows Stake in Packaging Corporation of America (NYSE:PKG)

KBC Group NV lifted its stake in shares of Packaging Corporation of America (NYSE:PKG - Free Report) by 12.9% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 94,447 shares of the industrial products company's stock after buying an additional 10,818 shares during the period. KBC Group NV owned approximately 0.11% of Packaging Corporation of America worth $18,702,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Alpine Bank Wealth Management acquired a new position in Packaging Corporation of America during the first quarter valued at $39,000. Lazard Asset Management LLC lifted its position in Packaging Corporation of America by 1,033.3% during the fourth quarter. Lazard Asset Management LLC now owns 204 shares of the industrial products company's stock valued at $45,000 after purchasing an additional 186 shares during the period. Rialto Wealth Management LLC acquired a new position in Packaging Corporation of America during the fourth quarter valued at $63,000. Ameriflex Group Inc. acquired a new position in Packaging Corporation of America during the fourth quarter valued at $64,000. Finally, Intact Investment Management Inc. acquired a new position in Packaging Corporation of America during the fourth quarter valued at $68,000. 89.78% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. UBS Group assumed coverage on shares of Packaging Corporation of America in a research report on Wednesday, June 4th. They set a "neutral" rating and a $200.00 target price for the company. Truist Financial boosted their target price on shares of Packaging Corporation of America from $237.00 to $239.00 and gave the company a "buy" rating in a research report on Tuesday, June 17th. 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 report on Friday, May 9th. Jefferies Financial Group downgraded shares of Packaging Corporation of America from a "buy" rating to a "hold" rating and decreased their target price for the company from $245.00 to $205.00 in a research report on Monday, June 16th. Finally, Wall Street Zen cut shares of Packaging Corporation of America from a "buy" rating to a "hold" rating in a report on Sunday, April 6th. Five 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 company. According to data from MarketBeat, Packaging Corporation of America has a consensus rating of "Hold" and a consensus target price of $211.80.

Packaging Corporation of America Stock Performance

PKG traded up $14.28 on Tuesday, reaching $202.73. The stock had a trading volume of 1,511,781 shares, compared to its average volume of 742,842. Packaging Corporation of America has a 12-month low of $172.72 and a 12-month 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 business's 50-day moving average price is $189.34 and its two-hundred day moving average price is $203.48. The company has a market cap of $18.24 billion, a P/E ratio of 21.21, a price-to-earnings-growth ratio of 2.50 and a beta of 0.84.

Packaging Corporation of America (NYSE:PKG - Get Free Report) last released its quarterly earnings data on Tuesday, April 22nd. The industrial products company reported $2.31 earnings per share for the quarter, beating analysts' consensus estimates of $2.21 by $0.10. Packaging Corporation of America had a net margin of 10.09% and a return on equity of 20.08%. The company had revenue of $2.14 billion during the quarter, compared to analysts' expectations of $2.12 billion. Sell-side analysts forecast that Packaging Corporation of America will post 10.44 earnings per share for the current year.

Packaging Corporation of America Announces Dividend

The business also recently announced 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. The ex-dividend date of this dividend is Friday, June 13th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.47%. Packaging Corporation of America's dividend payout ratio is currently 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.