Packaging Corporation of America (NYSE:PKG) Shares Acquired by Raiffeisen Bank International AG

Key Points

• Raiffeisen Bank International AG increased its holdings in Packaging Corporation of America by 80.6%, acquiring an additional 2,258 shares, bringing its total to 5,058 shares worth $989,000.
• Analysts have mixed ratings for Packaging Corporation of America, with price targets ranging from $205.00 to $220.00 and a consensus rating of "Hold".
• The company recently announced a quarterly dividend of $1.25, resulting in an annualized dividend yield of 2.6%.

Raiffeisen Bank International AG lifted its holdings in shares of Packaging Corporation of America (NYSE:PKG - Free Report) by 80.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,058 shares of the industrial products company's stock after purchasing an additional 2,258 shares during the quarter. Raiffeisen Bank International AG's holdings in Packaging Corporation of America were worth $989,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. TCTC Holdings LLC raised its holdings in Packaging Corporation of America by 86.4% in the 1st quarter. TCTC Holdings LLC now owns 151 shares of the industrial products company's stock valued at $30,000 after acquiring an additional 70 shares in the last quarter. Alpine Bank Wealth Management acquired a new position in Packaging Corporation of America in the 1st quarter worth about $39,000. Banque Cantonale Vaudoise acquired a new position in Packaging Corporation of America in the 1st quarter worth about $40,000. Manchester Capital Management LLC grew its position in shares of Packaging Corporation of America by 39.0% in the 1st quarter. Manchester Capital Management LLC now owns 203 shares of the industrial products company's stock valued at $40,000 after buying an additional 57 shares during the last quarter. Finally, Lazard Asset Management LLC boosted its position in shares of Packaging Corporation of America by 1,033.3% during the 4th quarter. Lazard Asset Management LLC now owns 204 shares of the industrial products company's stock valued at $45,000 after purchasing an additional 186 shares in the last quarter. Institutional investors and hedge funds own 89.78% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently commented on PKG shares. Truist Financial cut their target price on Packaging Corporation of America from $239.00 to $238.00 and set a "buy" rating on the stock 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 company a "neutral" rating in a research report on Friday, July 25th. Jefferies Financial Group lowered Packaging Corporation of America from a "buy" rating to a "hold" rating and reduced their price objective for the company from $245.00 to $205.00 in a report on Monday, June 16th. UBS Group raised their price target on Packaging Corporation of America from $210.00 to $220.00 and gave the stock a "neutral" rating in a report on Tuesday, July 29th. Finally, Wells Fargo & Company raised their price target on 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. 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 company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $215.40.

Packaging Corporation of America Trading Up 1.4%

Shares of PKG traded up $2.61 during trading hours on Thursday, hitting $194.83. The company had a trading volume of 455,492 shares, compared to its average volume of 686,513. The firm has a market cap of $17.53 billion, a P/E ratio of 19.44, a P/E/G ratio of 2.26 and a beta of 0.85. The stock's 50 day moving average price is $196.57 and its 200 day moving average price is $198.35. The company has a quick ratio of 2.15, a current ratio of 3.28 and a debt-to-equity ratio of 0.55. 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 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.44 by $0.04. Packaging Corporation of America had a net margin of 10.47% and a return on equity of 20.36%. The company had revenue of $2.17 billion during the quarter, compared to analysts' expectations of $2.18 billion. During the same quarter in the prior year, the company earned $2.20 EPS. Packaging Corporation of America's revenue was up 4.7% compared to the same quarter last year. On average, research analysts predict that Packaging Corporation of America will post 10.44 EPS for the current year.

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.