Packaging Corporation of America (NYSE:PKG) Shares Purchased by KLP Kapitalforvaltning AS

KLP Kapitalforvaltning AS boosted its holdings in shares of Packaging Corporation of America (NYSE:PKG - Free Report) by 8.0% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 44,630 shares of the industrial products company's stock after purchasing an additional 3,300 shares during the period. KLP Kapitalforvaltning AS's holdings in Packaging Corporation of America were worth $8,882,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PKG. Meiji Yasuda Asset Management Co Ltd. lifted its position in Packaging Corporation of America by 1.9% during the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 3,771 shares of the industrial products company's stock valued at $849,000 after purchasing an additional 70 shares during the period. Mitsubishi UFJ Trust & Banking Corp increased its holdings in Packaging Corporation of America by 23.6% in the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 94,194 shares of the industrial products company's stock valued at $21,206,000 after buying an additional 17,980 shares in the last quarter. Korea Investment CORP increased its holdings in Packaging Corporation of America by 96.0% in the fourth quarter. Korea Investment CORP now owns 71,004 shares of the industrial products company's stock valued at $15,985,000 after buying an additional 34,784 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in Packaging Corporation of America by 11.2% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 141,683 shares of the industrial products company's stock valued at $32,003,000 after buying an additional 14,253 shares in the last quarter. Finally, UniSuper Management Pty Ltd increased its holdings in Packaging Corporation of America by 14.9% in the fourth quarter. UniSuper Management Pty Ltd now owns 10,462 shares of the industrial products company's stock valued at $2,355,000 after buying an additional 1,360 shares in the last quarter. 89.78% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have weighed in on PKG. UBS Group lifted their price objective on shares of Packaging Corporation of America from $200.00 to $210.00 and gave the company a "neutral" rating in a report on Wednesday, July 9th. Truist Financial cut their price objective on shares of Packaging Corporation of America from $239.00 to $238.00 and set a "buy" rating for the company in a report on Friday. Wall Street Zen cut shares of Packaging Corporation of America from a "buy" rating to a "hold" rating in a report on Sunday, April 6th. Citigroup boosted their target price on shares of Packaging Corporation of America from $197.00 to $214.00 and gave the stock a "neutral" rating in a research note on Friday. Finally, Wells Fargo & Company boosted their target price on shares of Packaging Corporation of America from $180.00 to $200.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 10th. Five equities research 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 stock. According to MarketBeat, Packaging Corporation of America has an average rating of "Hold" and an average price target of $213.40.

Packaging Corporation of America Price Performance

Shares of PKG stock traded down $1.76 on Monday, reaching $204.78. 65,046 shares of the company were exchanged, compared to its average volume of 865,945. The company has a market cap of $18.43 billion, a price-to-earnings ratio of 20.48, a P/E/G ratio of 2.72 and a beta of 0.82. The business has a 50-day moving average price of $195.91 and a 200 day moving average price of $200.23. The company has a debt-to-equity ratio of 0.55, a quick ratio of 2.15 and a current ratio of 3.28. 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 posted its quarterly earnings results on Wednesday, July 23rd. The industrial products company reported $2.48 earnings per share for the quarter, topping analysts' consensus estimates of $2.44 by $0.04. The firm had revenue of $2.17 billion for the quarter, compared to analyst estimates of $2.18 billion. Packaging Corporation of America had a net margin of 10.47% and a return on equity of 20.36%. Packaging Corporation of America's quarterly revenue was up 4.7% on a year-over-year basis. During the same period in the previous year, the business posted $2.20 earnings per share. Equities research analysts forecast that Packaging Corporation of America will post 10.44 earnings per share for the current fiscal year.

Packaging Corporation of America Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Friday, June 13th were given a dividend of $1.25 per share. The ex-dividend date of this dividend was Friday, June 13th. This represents a $5.00 dividend on an annualized basis and a yield of 2.44%. Packaging Corporation of America's payout ratio is presently 49.90%.

Packaging Corporation of America Company 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.