Mn Services Vermogensbeheer B.V. Sells 2,600 Shares of Packaging Corporation of America (NYSE:PKG)

Mn Services Vermogensbeheer B.V. reduced its position in shares of Packaging Corporation of America (NYSE:PKG - Free Report) by 7.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 32,600 shares of the industrial products company's stock after selling 2,600 shares during the period. Mn Services Vermogensbeheer B.V.'s holdings in Packaging Corporation of America were worth $6,455,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the company. Exchange Traded Concepts LLC lifted its position in shares of Packaging Corporation of America by 20.6% during the first quarter. Exchange Traded Concepts LLC now owns 387 shares of the industrial products company's stock valued at $77,000 after purchasing an additional 66 shares in the last quarter. Ritholtz Wealth Management lifted its position in shares of Packaging Corporation of America by 15.5% during the 1st quarter. Ritholtz Wealth Management now owns 5,355 shares of the industrial products company's stock worth $1,060,000 after buying an additional 718 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in shares of Packaging Corporation of America by 5.6% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 28,639 shares of the industrial products company's stock worth $5,671,000 after buying an additional 1,531 shares in the last quarter. Folger Nolan Fleming Douglas Capital Management Inc. lifted its holdings in Packaging Corporation of America by 41.2% during the first quarter. Folger Nolan Fleming Douglas Capital Management Inc. now owns 3,430 shares of the industrial products company's stock worth $679,000 after acquiring an additional 1,000 shares during the period. Finally, First United Bank & Trust bought a new stake in Packaging Corporation of America during the first quarter worth $289,000. 89.78% of the stock is owned by institutional investors.

Packaging Corporation of America Stock Down 0.1%

Shares of NYSE PKG traded down $0.16 during mid-day trading on Wednesday, hitting $186.19. 589,445 shares of the stock traded hands, compared to its average volume of 739,714. Packaging Corporation of America has a 52 week low of $172.72 and a 52 week high of $250.82. The company has a market cap of $16.75 billion, a price-to-earnings ratio of 19.48, a PEG ratio of 2.47 and a beta of 0.84. The company has a debt-to-equity ratio of 0.55, a quick ratio of 2.15 and a current ratio of 3.28. The stock has a fifty day moving average price of $189.25 and a 200-day moving average price of $207.09.

Packaging Corporation of America (NYSE:PKG - Get Free Report) last posted its quarterly earnings data on Tuesday, April 22nd. The industrial products company reported $2.31 EPS for the quarter, topping the consensus estimate of $2.21 by $0.10. Packaging Corporation of America had a net margin of 10.09% and a return on equity of 20.08%. The business had revenue of $2.14 billion for the quarter, compared to analyst estimates of $2.12 billion. Research analysts anticipate that Packaging Corporation of America will post 10.44 EPS for the current year.

Packaging Corporation of America Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Friday, June 13th will be given a $1.25 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.69%. Packaging Corporation of America's dividend payout ratio is currently 52.30%.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Wells Fargo & Company reiterated an "equal weight" rating and set a $180.00 price target (down from $205.00) on shares of Packaging Corporation of America in a report on Friday, May 9th. Jefferies Financial Group cut shares of Packaging Corporation of America from a "buy" rating to a "hold" rating and lowered their target price for the company from $245.00 to $205.00 in a report on Monday. UBS Group initiated coverage on shares of Packaging Corporation of America in a report on Wednesday, June 4th. They set a "neutral" rating and a $200.00 target price on the stock. Truist Financial upped their target price on Packaging Corporation of America from $237.00 to $239.00 and gave the stock a "buy" rating in a research note on Tuesday. Finally, Wall Street Zen cut 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 given a strong buy rating to the company. According to data from MarketBeat.com, Packaging Corporation of America has an average rating of "Hold" and an average price target of $211.80.

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.