Natixis Advisors LLC Cuts Position in Packaging Corporation of America (NYSE:PKG)

Key Points

• Natixis Advisors LLC reduced its holdings in Packaging Corporation of America (NYSE:PKG) by 5.6%, owning approximately $15.42 million worth of shares after selling 4,653 shares in the 1st quarter.
• Packaging Corporation of America reported $2.48 earnings per share (EPS) for the last quarter, surpassing analysts' expectations, alongside a revenue of $2.17 billion.
• The company recently announced a $1.25 quarterly dividend, leading to an annualized dividend of $5.00 and a dividend yield of 2.6%.

Natixis Advisors LLC lessened its stake in shares of Packaging Corporation of America (NYSE:PKG - Free Report) by 5.6% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 77,865 shares of the industrial products company's stock after selling 4,653 shares during the quarter. Natixis Advisors LLC owned approximately 0.09% of Packaging Corporation of America worth $15,419,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of PKG. Invesco Ltd. raised its position in Packaging Corporation of America by 0.8% in the fourth quarter. Invesco Ltd. now owns 1,853,092 shares of the industrial products company's stock valued at $417,187,000 after purchasing an additional 14,775 shares during the last quarter. Northern Trust Corp lifted its position in shares of Packaging Corporation of America by 13.7% in the 4th quarter. Northern Trust Corp now owns 1,110,422 shares of the industrial products company's stock worth $249,989,000 after purchasing an additional 133,427 shares during the period. Balyasny Asset Management L.P. boosted its stake in shares of Packaging Corporation of America by 106.7% in the 4th quarter. Balyasny Asset Management L.P. now owns 848,395 shares of the industrial products company's stock valued at $190,999,000 after purchasing an additional 438,012 shares during the last quarter. GAMMA Investing LLC raised its stake in Packaging Corporation of America by 25,461.0% during the first quarter. GAMMA Investing LLC now owns 621,387 shares of the industrial products company's stock worth $123,047,000 after buying an additional 618,956 shares during the last quarter. Finally, Deutsche Bank AG lifted its holdings in Packaging Corporation of America by 16.1% in the fourth quarter. Deutsche Bank AG now owns 449,025 shares of the industrial products company's stock valued at $101,089,000 after buying an additional 62,271 shares during the period. 89.78% of the stock is currently owned by institutional investors and hedge funds.

Packaging Corporation of America Stock Performance

PKG stock traded up $2.61 during midday trading on Thursday, hitting $194.83. The company's stock had a trading volume of 454,404 shares, compared to its average volume of 858,408. The stock has a market cap of $17.53 billion, a price-to-earnings ratio of 19.44, a PEG ratio of 2.27 and a beta of 0.85. The company has a quick ratio of 2.15, a current ratio of 3.28 and a debt-to-equity ratio of 0.55. The stock's 50-day moving average price is $196.53 and its 200 day moving average price is $198.65. Packaging Corporation of America has a 1 year low of $172.71 and a 1 year high of $250.82.

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, topping analysts' consensus estimates of $2.44 by $0.04. The business 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 20.36% 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 last year, the business posted $2.20 earnings per share. On average, equities analysts forecast that Packaging Corporation of America will post 10.44 EPS for the current year.

Analysts Set New Price Targets

PKG has been the subject of several research analyst reports. Truist Financial lowered their price objective on Packaging Corporation of America from $239.00 to $238.00 and set a "buy" rating for the company in a research report on Friday, July 25th. Citigroup increased their price target on Packaging Corporation of America from $197.00 to $214.00 and gave the stock a "neutral" rating in a report on Friday, July 25th. Jefferies Financial Group cut shares of Packaging Corporation of America from a "buy" rating to a "hold" rating and cut their price objective for the stock from $245.00 to $205.00 in a research report on Monday, June 16th. Wells Fargo & Company boosted their price target on shares of Packaging Corporation of America from $180.00 to $200.00 and gave the company an "equal weight" rating in a research note on Thursday, July 10th. Finally, UBS Group upped their price objective on shares of Packaging Corporation of America from $210.00 to $220.00 and gave the stock a "neutral" rating in a report on Tuesday, July 29th. Five research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $215.40.

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.