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.
Check Out Our Latest Analysis on Packaging Corporation of America
Packaging Corporation of America Profile
(
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.
Read More

Before you consider Packaging Corporation of America, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Packaging Corporation of America wasn't on the list.
While Packaging Corporation of America currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Enter your email address and we'll send you MarketBeat's guide to investing in 5G and which 5G stocks show the most promise.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.