Lbp Am Sa Grows Stock Position in Packaging Corporation of America (NYSE:PKG)

LBP AM SA boosted its stake in Packaging Corporation of America (NYSE:PKG - Free Report) by 5.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 38,401 shares of the industrial products company's stock after acquiring 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 added to or reduced their stakes in the stock. Jones Financial Companies Lllp lifted its position in Packaging Corporation of America by 79.0% during the fourth quarter. Jones Financial Companies Lllp now owns 666 shares of the industrial products company's stock valued at $150,000 after buying an additional 294 shares during the period. Steward Partners Investment Advisory LLC lifted its position in Packaging Corporation of America by 10.1% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 2,084 shares of the industrial products company's stock valued at $469,000 after buying an additional 192 shares during the period. Assetmark Inc. lifted its position in Packaging Corporation of America by 54.6% during the fourth quarter. Assetmark Inc. now owns 416 shares of the industrial products company's stock valued at $94,000 after buying an additional 147 shares during the period. Proficio Capital Partners LLC purchased a new position in Packaging Corporation of America during the fourth quarter valued at $25,291,000. Finally, Raymond James Financial Inc. purchased a new position in Packaging Corporation of America during the fourth quarter valued at $50,175,000. Institutional investors own 89.78% of the company's stock.

Wall Street Analyst Weigh In

PKG has been the subject of several research analyst reports. UBS Group lifted their price objective on Packaging Corporation of America from $200.00 to $210.00 and gave the stock a "neutral" rating in a report on Wednesday. Jefferies Financial Group downgraded Packaging Corporation of America from a "buy" rating to a "hold" rating and reduced their price objective for the stock from $245.00 to $205.00 in a report on Monday, June 16th. Truist Financial lifted their price objective on Packaging Corporation of America from $237.00 to $239.00 and gave the stock a "buy" rating in a report on Tuesday, June 17th. Wells Fargo & Company lifted their price objective on Packaging Corporation of America from $180.00 to $200.00 and gave the stock an "equal weight" rating in a report on Thursday. Finally, Wall Street Zen downgraded Packaging Corporation of America from a "buy" rating to a "hold" rating in a research note on Sunday, April 6th. Five investment analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $217.80.

Packaging Corporation of America Stock Performance

Shares of NYSE:PKG traded down $1.34 during mid-day trading on Friday, reaching $205.90. 432,717 shares of the company traded hands, compared to its average volume of 748,707. The company's 50 day moving average price is $192.48 and its 200-day moving average price is $201.82. 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 has a 52 week low of $172.72 and a 52 week high of $250.82. The firm has a market cap of $18.53 billion, a PE ratio of 21.54, a PEG ratio of 2.72 and a beta of 0.82.

Packaging Corporation of America (NYSE:PKG - Get Free Report) last posted its quarterly earnings results on Tuesday, April 22nd. The industrial products company reported $2.31 EPS for the quarter, topping 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 company had revenue of $2.14 billion for the quarter, compared to analysts' expectations of $2.12 billion. On average, equities analysts expect that Packaging Corporation of America will post 10.44 EPS for the current fiscal year.

Packaging Corporation of America Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Friday, June 13th will be issued a dividend of $1.25 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $5.00 annualized dividend and a dividend yield of 2.43%. Packaging Corporation of America's dividend payout ratio (DPR) is 52.30%.

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.