Maj Invest Holding A S Sells 300,731 Shares of Packaging Corporation of America (NYSE:PKG)

Maj Invest Holding A S trimmed its position in shares of Packaging Corporation of America (NYSE:PKG - Free Report) by 99.9% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 409 shares of the industrial products company's stock after selling 300,731 shares during the quarter. Maj Invest Holding A S's holdings in Packaging Corporation of America were worth $81,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of PKG. HM Payson & Co. grew its stake in Packaging Corporation of America by 54.8% in the 1st quarter. HM Payson & Co. now owns 240 shares of the industrial products company's stock valued at $48,000 after purchasing an additional 85 shares during the period. Brookstone Capital Management grew its stake in Packaging Corporation of America by 718.0% in the 1st quarter. Brookstone Capital Management now owns 10,086 shares of the industrial products company's stock valued at $1,997,000 after purchasing an additional 8,853 shares during the period. IFM Investors Pty Ltd grew its stake in Packaging Corporation of America by 8.2% in the 1st quarter. IFM Investors Pty Ltd now owns 18,344 shares of the industrial products company's stock valued at $3,951,000 after purchasing an additional 1,394 shares during the period. Conning Inc. grew its stake in Packaging Corporation of America by 17.3% in the 1st quarter. Conning Inc. now owns 168,431 shares of the industrial products company's stock valued at $33,353,000 after purchasing an additional 24,829 shares during the period. Finally, Coastline Trust Co grew its stake in Packaging Corporation of America by 16.0% in the 1st quarter. Coastline Trust Co now owns 908 shares of the industrial products company's stock valued at $180,000 after purchasing an additional 125 shares during the period. 89.78% of the stock is owned by hedge funds and other institutional investors.

Packaging Corporation of America Trading Up 0.7%

Packaging Corporation of America stock traded up $1.38 during trading hours on Wednesday, reaching $204.15. The company had a trading volume of 529,401 shares, compared to its average volume of 745,703. The company has a debt-to-equity ratio of 0.55, a current ratio of 3.28 and a quick ratio of 2.15. The company has a 50-day moving average price of $191.26 and a 200 day moving average price of $202.48. The firm has a market cap of $18.37 billion, a price-to-earnings ratio of 21.35, a P/E/G ratio of 2.66 and a beta of 0.82. Packaging Corporation of America has a 12-month low of $172.72 and a 12-month high of $250.82.

Packaging Corporation of America (NYSE:PKG - Get Free Report) last posted its earnings results on Tuesday, April 22nd. The industrial products company reported $2.31 earnings per share (EPS) for the quarter, beating the consensus estimate 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 for the quarter, compared to analysts' expectations of $2.12 billion. Equities analysts forecast that Packaging Corporation of America will post 10.44 earnings per share for the current year.

Packaging Corporation of America Dividend Announcement

The firm 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 is Friday, June 13th. This represents a $5.00 annualized dividend and a dividend yield of 2.45%. Packaging Corporation of America's dividend payout ratio (DPR) is presently 52.30%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on PKG shares. Wells Fargo & Company reiterated an "equal weight" rating and set a $180.00 price target (down previously from $205.00) on shares of Packaging Corporation of America in a research note on Friday, May 9th. Truist Financial increased their price target on Packaging Corporation of America from $237.00 to $239.00 and gave the stock a "buy" rating in a research note on Tuesday, June 17th. Wall Street Zen downgraded Packaging Corporation of America from a "buy" rating to a "hold" rating in a research note on Sunday, April 6th. UBS Group increased their price target on Packaging Corporation of America from $200.00 to $210.00 and gave the stock a "neutral" rating in a research note on Wednesday. Finally, Jefferies Financial Group downgraded Packaging Corporation of America from a "buy" rating to a "hold" rating and cut their price target for the stock from $245.00 to $205.00 in a research note on Monday, June 16th. Five analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $213.80.

Packaging Corporation of America 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.