Mizuho Securities USA LLC Has $1.41 Million Holdings in Packaging Corporation of America (NYSE:PKG)

Key Points

• Mizuho Securities USA LLC reduced its holdings in Packaging Corporation of America (PKG) by 15.5% in Q1, selling 1,311 shares and retaining 7,140 shares valued at $1.414 million.
• Analysts have mixed opinions on PKG, with UBS raising the target price to $220 while Jefferies downgraded it to a hold with a target of $205.
• Packaging Corporation of America reported a Q2 EPS of $2.48, beating expectations by $0.04, and its revenue increased 4.7% year-over-year to $2.17 billion.

Mizuho Securities USA LLC decreased its holdings in Packaging Corporation of America (NYSE:PKG - Free Report) by 15.5% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 7,140 shares of the industrial products company's stock after selling 1,311 shares during the quarter. Mizuho Securities USA LLC's holdings in Packaging Corporation of America were worth $1,414,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Fiduciary Family Office LLC bought a new position in shares of Packaging Corporation of America in the first quarter worth $232,000. JPMorgan Chase & Co. lifted its holdings in shares of Packaging Corporation of America by 46.5% in the first quarter. JPMorgan Chase & Co. now owns 3,038,859 shares of the industrial products company's stock valued at $601,755,000 after buying an additional 964,085 shares during the period. Frank Rimerman Advisors LLC lifted its holdings in shares of Packaging Corporation of America by 13.7% in the first quarter. Frank Rimerman Advisors LLC now owns 1,507 shares of the industrial products company's stock valued at $298,000 after buying an additional 182 shares during the period. Townsquare Capital LLC lifted its holdings in shares of Packaging Corporation of America by 62.9% in the first quarter. Townsquare Capital LLC now owns 5,242 shares of the industrial products company's stock valued at $1,038,000 after buying an additional 2,025 shares during the period. Finally, Wolverine Asset Management LLC acquired a new stake in shares of Packaging Corporation of America in the first quarter valued at $376,000. Institutional investors own 89.78% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Truist Financial cut their price objective on Packaging Corporation of America from $239.00 to $238.00 and set a "buy" rating for the company in a report on Friday, July 25th. Jefferies Financial Group lowered Packaging Corporation of America from a "buy" rating to a "hold" rating and cut their price objective for the company from $245.00 to $205.00 in a report on Monday, June 16th. UBS Group upped their price objective on Packaging Corporation of America from $210.00 to $220.00 and gave the company a "neutral" rating in a report on Tuesday, July 29th. Citigroup upped their price objective on Packaging Corporation of America from $197.00 to $214.00 and gave the company a "neutral" rating in a report on Friday, July 25th. Finally, Wells Fargo & Company upped their price objective on Packaging Corporation of America from $180.00 to $200.00 and gave the company an "equal weight" rating in a report on Thursday, July 10th. Five equities research 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 stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $215.40.

Packaging Corporation of America Trading Down 1.6%

Shares of NYSE PKG traded down $3.06 during mid-day trading on Friday, hitting $193.46. 797,523 shares of the company traded hands, compared to its average volume of 668,462. Packaging Corporation of America has a 1 year low of $172.71 and a 1 year high of $250.82. The stock has a market capitalization of $17.41 billion, a price-to-earnings ratio of 19.31, a PEG ratio of 2.27 and a beta of 0.85. The company has a quick ratio of 2.32, a current ratio of 3.54 and a debt-to-equity ratio of 0.54. The business has a 50 day moving average of $196.95 and a two-hundred day moving average of $196.45.

Packaging Corporation of America (NYSE:PKG - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The industrial products company reported $2.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.44 by $0.04. The firm had revenue of $2.17 billion during the quarter, compared to the consensus estimate of $2.18 billion. Packaging Corporation of America had a return on equity of 20.08% and a net margin of 10.47%. The business's revenue for the quarter was up 4.7% on a year-over-year basis. During the same period in the prior year, the business earned $2.20 EPS. On average, sell-side analysts anticipate that Packaging Corporation of America will post 10.44 earnings per share for the current fiscal year.

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.