MQS Management LLC Has $711,000 Holdings in Packaging Corporation of America (NYSE:PKG)

MQS Management LLC raised its stake in Packaging Corporation of America (NYSE:PKG - Free Report) by 263.6% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 3,592 shares of the industrial products company's stock after buying an additional 2,604 shares during the quarter. MQS Management LLC's holdings in Packaging Corporation of America were worth $711,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of PKG. Exchange Traded Concepts LLC lifted its position in shares of Packaging Corporation of America by 20.6% in the first quarter. Exchange Traded Concepts LLC now owns 387 shares of the industrial products company's stock worth $77,000 after purchasing an additional 66 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. lifted its position in shares of Packaging Corporation of America by 1.9% in the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 3,771 shares of the industrial products company's stock worth $849,000 after purchasing an additional 70 shares in the last quarter. Avidian Wealth Enterprises LLC lifted its position in shares of Packaging Corporation of America by 6.1% in the first quarter. Avidian Wealth Enterprises LLC now owns 1,308 shares of the industrial products company's stock worth $259,000 after purchasing an additional 75 shares in the last quarter. Colonial Trust Co SC lifted its position in shares of Packaging Corporation of America by 3.9% in the fourth quarter. Colonial Trust Co SC now owns 2,071 shares of the industrial products company's stock worth $466,000 after purchasing an additional 78 shares in the last quarter. Finally, Nissay Asset Management Corp Japan ADV lifted its position in shares of Packaging Corporation of America by 0.7% in the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 10,857 shares of the industrial products company's stock worth $2,466,000 after purchasing an additional 80 shares in the last quarter. Institutional investors own 89.78% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the stock. Wells Fargo & Company boosted their price objective on shares of Packaging Corporation of America from $180.00 to $200.00 and gave the stock an "equal weight" rating in a research report on Thursday. Jefferies Financial Group downgraded shares of Packaging Corporation of America from a "buy" rating to a "hold" rating and lowered their target price for the stock from $245.00 to $205.00 in a report on Monday, June 16th. Truist Financial boosted their target price on shares of Packaging Corporation of America from $237.00 to $239.00 and gave the stock a "buy" rating in a report on Tuesday, June 17th. UBS Group boosted their target price on shares of Packaging Corporation of America from $200.00 to $210.00 and gave the stock a "neutral" rating in a report on Wednesday, July 9th. Finally, Wall Street Zen downgraded shares of Packaging Corporation of America from a "buy" rating to a "hold" rating in a report on Sunday, April 6th. Five analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Packaging Corporation of America presently has an average rating of "Hold" and a consensus target price of $217.80.

Packaging Corporation of America Stock Down 1.2%

PKG traded down $2.44 during trading on Monday, reaching $203.46. 459,408 shares of the stock were exchanged, compared to its average volume of 747,550. The stock has a market cap of $18.31 billion, a P/E ratio of 21.28, a price-to-earnings-growth ratio of 2.72 and a beta of 0.82. Packaging Corporation of America has a twelve month low of $172.72 and a twelve month high of $250.82. The stock's 50 day moving average price is $192.48 and its two-hundred day moving average price is $201.82. 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 (NYSE:PKG - Get Free Report) last released its quarterly earnings data on Tuesday, April 22nd. The industrial products company reported $2.31 EPS for the quarter, beating 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 firm had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $2.12 billion. Equities analysts expect that Packaging Corporation of America will post 10.44 EPS for the current year.

Packaging Corporation of America Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Friday, June 13th will be issued a $1.25 dividend. The ex-dividend date is Friday, June 13th. This represents a $5.00 annualized dividend and a dividend yield of 2.46%. Packaging Corporation of America's dividend payout ratio is currently 52.30%.

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.