Entropy Technologies LP Lowers Holdings in Packaging Corporation of America (NYSE:PKG)

Key Points

• Entropy Technologies LP reduced its holdings in Packaging Corporation of America by 31.5%, leaving it with 22,286 shares valued at approximately $4.41 million.
• The company reported $2.48 earnings per share (EPS) for the last quarter, surpassing analysts' estimates by $0.04 and showing a 4.7% increase in quarterly revenue year-over-year.
• Several research firms have adjusted their price targets for Packaging Corporation of America, with UBS Group now targeting $220, indicating a mix of hold and neutral ratings among analysts.

Entropy Technologies LP lessened its stake in Packaging Corporation of America (NYSE:PKG - Free Report) by 31.5% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 22,286 shares of the industrial products company's stock after selling 10,228 shares during the quarter. Entropy Technologies LP's holdings in Packaging Corporation of America were worth $4,413,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. JPMorgan Chase & Co. raised its stake in shares of Packaging Corporation of America by 46.5% during the 1st quarter. JPMorgan Chase & Co. now owns 3,038,859 shares of the industrial products company's stock valued at $601,755,000 after purchasing an additional 964,085 shares during the period. GAMMA Investing LLC raised its stake in shares of Packaging Corporation of America by 25,461.0% during the 1st quarter. GAMMA Investing LLC now owns 621,387 shares of the industrial products company's stock valued at $123,047,000 after purchasing an additional 618,956 shares during the period. Balyasny Asset Management L.P. raised its stake in shares of Packaging Corporation of America by 106.7% during 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 period. Select Equity Group L.P. bought a new stake in shares of Packaging Corporation of America during the 4th quarter valued at $72,339,000. Finally, Point72 Asset Management L.P. grew its position in Packaging Corporation of America by 642.7% during the fourth quarter. Point72 Asset Management L.P. now owns 271,806 shares of the industrial products company's stock worth $61,192,000 after buying an additional 235,211 shares in the last quarter. 89.78% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

PKG has been the subject of a number of research reports. UBS Group boosted their price target on shares of Packaging Corporation of America from $210.00 to $220.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 29th. Citigroup increased their price target on shares of 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 lowered shares of Packaging Corporation of America from a "buy" rating to a "hold" rating and decreased their price target for the stock from $245.00 to $205.00 in a report on Monday, June 16th. Wells Fargo & Company increased their price target on shares of Packaging Corporation of America from $180.00 to $200.00 and gave the stock an "equal weight" rating in a report on Thursday, July 10th. Finally, 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. Five research analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $215.40.

Packaging Corporation of America Stock Performance

NYSE PKG traded up $1.77 on Wednesday, hitting $200.73. 483,893 shares of the company traded hands, compared to its average volume of 849,791. The company has a market capitalization of $18.06 billion, a price-to-earnings ratio of 20.03, a P/E/G ratio of 2.31 and a beta of 0.85. The company has a current ratio of 3.54, a quick ratio of 2.32 and a debt-to-equity ratio of 0.54. The business's 50 day moving average price is $196.82 and its 200-day moving average price is $197.16. Packaging Corporation of America has a 52-week low of $172.71 and a 52-week high of $250.82.

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 EPS for the quarter, beating the consensus estimate of $2.44 by $0.04. Packaging Corporation of America had a return on equity of 20.08% and a net margin of 10.47%. The business had revenue of $2.17 billion for the quarter, compared to the consensus estimate of $2.18 billion. During the same period in the previous year, the business earned $2.20 earnings per share. The business's revenue was up 4.7% on a year-over-year basis. Equities analysts expect that Packaging Corporation of America will post 10.44 earnings per share for the current year.

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.