Machina Capital S.A.S. Buys 1,270 Shares of Packaging Corporation of America (NYSE:PKG)

Machina Capital S.A.S. boosted its stake in shares of Packaging Corporation of America (NYSE:PKG - Free Report) by 11.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,956 shares of the industrial products company's stock after acquiring an additional 1,270 shares during the quarter. Machina Capital S.A.S.'s holdings in Packaging Corporation of America were worth $2,368,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Pinnacle Associates Ltd. boosted its holdings in shares of Packaging Corporation of America by 26.5% in the 1st quarter. Pinnacle Associates Ltd. now owns 1,537 shares of the industrial products company's stock worth $304,000 after acquiring an additional 322 shares in the last quarter. Mount Lucas Management LP acquired a new stake in shares of Packaging Corporation of America in the first quarter valued at $1,402,000. Roundview Capital LLC lifted its position in Packaging Corporation of America by 25.1% during the 1st quarter. Roundview Capital LLC now owns 1,606 shares of the industrial products company's stock worth $318,000 after buying an additional 322 shares in the last quarter. SYM FINANCIAL Corp raised its holdings in Packaging Corporation of America by 8.7% during the 1st quarter. SYM FINANCIAL Corp now owns 1,527 shares of the industrial products company's stock worth $302,000 after buying an additional 122 shares during the period. Finally, Oak Thistle LLC acquired a new position in shares of Packaging Corporation of America in the first quarter valued at approximately $1,203,000. 89.78% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently commented on PKG shares. Truist Financial cut their price objective 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. Citigroup upped their price objective on Packaging Corporation of America from $197.00 to $214.00 and gave the stock a "neutral" rating in a research report on Friday. Wells Fargo & Company lifted their target price on Packaging Corporation of America from $180.00 to $200.00 and gave the company an "equal weight" rating in a research report on Thursday, July 10th. UBS Group raised their price objective on Packaging Corporation of America from $200.00 to $210.00 and gave the company a "neutral" rating in a report on Wednesday, July 9th. Finally, Jefferies Financial Group cut Packaging Corporation of America from a "buy" rating to a "hold" rating and reduced their price target for the company from $245.00 to $205.00 in a research report on Monday, June 16th. Five research 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 presently has a consensus rating of "Hold" and an average target price of $213.40.

Packaging Corporation of America Trading Up 0.2%

NYSE PKG traded up $0.49 during mid-day trading on Friday, reaching $206.42. 629,946 shares of the stock were exchanged, compared to its average volume of 697,820. The stock has a market cap of $18.57 billion, a P/E ratio of 20.60, a P/E/G ratio of 2.73 and a beta of 0.82. 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 one year low of $172.71 and a one year high of $250.82. The stock has a 50 day simple moving average of $195.91 and a 200-day simple moving average of $200.42.

Packaging Corporation of America (NYSE:PKG - Get Free Report) last released its earnings results on Wednesday, July 23rd. The industrial products company reported $2.48 earnings per share (EPS) for the quarter, beating 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 company had revenue of $2.17 billion for the quarter, compared to the consensus estimate of $2.18 billion. During the same quarter in the previous year, the company earned $2.20 EPS. Packaging Corporation of America's quarterly revenue was up 4.7% compared to the same quarter last year. On average, 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 disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Friday, June 13th were given a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a yield of 2.42%. The ex-dividend date was Friday, June 13th. Packaging Corporation of America's payout ratio is 49.90%.

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.