LBP AM SA boosted its stake in Packaging Corporation of America (NYSE:PKG - Free Report) by 5.0% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 38,401 shares of the industrial products company's stock after purchasing an additional 1,817 shares during the period. LBP AM SA's holdings in Packaging Corporation of America were worth $7,604,000 at the end of the most recent reporting period.
Several other large investors have also bought and sold shares of PKG. Vanguard Group Inc. increased its stake in shares of Packaging Corporation of America by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 11,423,715 shares of the industrial products company's stock valued at $2,571,821,000 after buying an additional 133,575 shares during the period. Geode Capital Management LLC boosted its holdings in Packaging Corporation of America by 1.3% in the fourth quarter. Geode Capital Management LLC now owns 2,366,723 shares of the industrial products company's stock valued at $531,540,000 after acquiring an additional 29,427 shares during the last quarter. Invesco Ltd. increased its position in Packaging Corporation of America by 0.8% during the 4th quarter. Invesco Ltd. now owns 1,853,092 shares of the industrial products company's stock valued at $417,187,000 after purchasing an additional 14,775 shares during the period. Boston Partners increased its position in Packaging Corporation of America by 7.0% during the 4th quarter. Boston Partners now owns 1,565,351 shares of the industrial products company's stock valued at $352,305,000 after purchasing an additional 101,755 shares during the period. Finally, Norges Bank bought a new position in Packaging Corporation of America during the 4th quarter worth approximately $258,928,000. 89.78% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
Several equities research analysts have recently weighed in on PKG shares. Jefferies Financial Group cut shares of Packaging Corporation of America from a "buy" rating to a "hold" rating and decreased their price objective for the stock from $245.00 to $205.00 in a research report on Monday, June 16th. Wells Fargo & Company increased their price target on Packaging Corporation of America from $180.00 to $200.00 and gave the stock an "equal weight" rating in a report on Thursday. Wall Street Zen downgraded Packaging Corporation of America from a "buy" rating to a "hold" rating in a research note on Sunday, April 6th. Truist Financial upped their target price on 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. Finally, UBS Group lifted their target price on Packaging Corporation of America from $200.00 to $210.00 and gave the stock a "neutral" rating in a report on Wednesday. Five equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $217.80.
Read Our Latest Analysis on PKG
Packaging Corporation of America Stock Down 0.6%
Shares of PKG traded down $1.34 during trading hours on Friday, hitting $205.90. The stock had a trading volume of 432,717 shares, compared to its average volume of 747,594. Packaging Corporation of America has a 1-year low of $172.72 and a 1-year high of $250.82. The firm has a market capitalization of $18.53 billion, a P/E ratio of 21.54, a price-to-earnings-growth ratio of 2.74 and a beta of 0.82. The firm has a 50 day simple moving average of $192.48 and a 200-day simple moving average of $202.20. The company has a debt-to-equity ratio of 0.55, a current ratio of 3.28 and a quick ratio of 2.15.
Packaging Corporation of America (NYSE:PKG - Get Free Report) last announced its quarterly earnings data on Tuesday, April 22nd. The industrial products company reported $2.31 EPS for the quarter, beating analysts' consensus estimates 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 firm had revenue of $2.14 billion during the quarter, compared to analysts' expectations of $2.12 billion. Sell-side analysts predict that Packaging Corporation of America will post 10.44 EPS for the current fiscal year.
Packaging Corporation of America Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Friday, June 13th will be issued a dividend of $1.25 per share. The ex-dividend date is Friday, June 13th. This represents a $5.00 annualized dividend and a yield of 2.43%. Packaging Corporation of America's payout ratio is 52.30%.
Packaging Corporation of America Company Profile
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Free Report)
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.
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