Principal Financial Group Inc. Decreases Stock Holdings in Packaging Corporation of America (NYSE:PKG)

Principal Financial Group Inc. lowered its stake in shares of Packaging Corporation of America (NYSE:PKG - Free Report) by 1.1% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 458,861 shares of the industrial products company's stock after selling 5,038 shares during the period. Principal Financial Group Inc. owned about 0.51% of Packaging Corporation of America worth $90,864,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Coastline Trust Co raised its position in shares of Packaging Corporation of America by 16.0% in the first quarter. Coastline Trust Co now owns 908 shares of the industrial products company's stock valued at $180,000 after buying an additional 125 shares during the last quarter. Keybank National Association OH increased its position in Packaging Corporation of America by 1.7% during the first quarter. Keybank National Association OH now owns 12,103 shares of the industrial products company's stock worth $2,397,000 after purchasing an additional 206 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd increased its position in Packaging Corporation of America by 0.8% during the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 10,635 shares of the industrial products company's stock worth $2,106,000 after purchasing an additional 84 shares during the last quarter. Benchmark Financial Wealth Advisors LLC increased its position in Packaging Corporation of America by 4.0% during the first quarter. Benchmark Financial Wealth Advisors LLC now owns 2,245 shares of the industrial products company's stock worth $445,000 after purchasing an additional 86 shares during the last quarter. Finally, Argent Advisors Inc. increased its position in shares of Packaging Corporation of America by 4.2% in the first quarter. Argent Advisors Inc. now owns 2,918 shares of the industrial products company's stock worth $578,000 after acquiring an additional 118 shares in the last quarter. Hedge funds and other institutional investors own 89.78% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Wall Street Zen lowered shares of Packaging Corporation of America from a "buy" rating to a "hold" rating in a research report on Sunday, April 6th. UBS Group assumed coverage on shares of Packaging Corporation of America in a research report on Wednesday, June 4th. They issued a "neutral" rating and a $200.00 price objective for the company. Wells Fargo & Company reissued an "equal weight" rating and issued a $180.00 price objective (down previously from $205.00) on shares of Packaging Corporation of America in a research report on Friday, May 9th. Jefferies Financial Group lowered shares of Packaging Corporation of America from a "buy" rating to a "hold" rating and dropped their price objective for the stock from $245.00 to $205.00 in a research report on Monday, June 16th. Finally, Truist Financial increased their price objective on shares of Packaging Corporation of America from $237.00 to $239.00 and gave the stock a "buy" rating in a research report on Tuesday, June 17th. Five 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 company's stock. According to data from MarketBeat.com, Packaging Corporation of America currently has an average rating of "Hold" and a consensus price target of $211.80.

Packaging Corporation of America Trading Up 0.2%

Packaging Corporation of America stock opened at $202.29 on Friday. The firm's 50-day moving average is $190.63 and its 200-day moving average is $203.02. 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 $172.72 and a 1 year high of $250.82. The company has a market cap of $18.20 billion, a P/E ratio of 21.16, a PEG ratio of 2.67 and a beta of 0.82.

Packaging Corporation of America (NYSE:PKG - Get Free Report) last issued its quarterly earnings data on Tuesday, April 22nd. The industrial products company reported $2.31 earnings per share for the quarter, beating the consensus estimate of $2.21 by $0.10. The firm had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $2.12 billion. Packaging Corporation of America had a net margin of 10.09% and a return on equity of 20.08%. On average, equities analysts expect that Packaging Corporation of America will post 10.44 earnings per share for the current year.

Packaging Corporation of America Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Friday, June 13th will be paid a dividend of $1.25 per share. The ex-dividend date is Friday, June 13th. This represents a $5.00 annualized dividend and a yield of 2.47%. Packaging Corporation of America's payout ratio is 52.30%.

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.

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