Regents Gate Capital LLP Acquires 33,176 Shares of Packaging Corporation of America (NYSE:PKG)

Regents Gate Capital LLP increased its position in Packaging Corporation of America (NYSE:PKG - Free Report) by 174.0% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 52,242 shares of the industrial products company's stock after purchasing an additional 33,176 shares during the period. Packaging Corporation of America comprises about 4.4% of Regents Gate Capital LLP's investment portfolio, making the stock its 4th biggest holding. Regents Gate Capital LLP owned 0.06% of Packaging Corporation of America worth $10,345,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC boosted its stake in Packaging Corporation of America by 1.8% in the 4th quarter. EverSource Wealth Advisors LLC now owns 3,637 shares of the industrial products company's stock worth $819,000 after purchasing an additional 66 shares during the period. Exchange Traded Concepts LLC boosted its stake in Packaging Corporation of America by 20.6% in the 1st 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 during the period. Meiji Yasuda Asset Management Co Ltd. boosted its stake in Packaging Corporation of America by 1.9% in the 4th 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 during the period. Avidian Wealth Enterprises LLC boosted its stake in Packaging Corporation of America by 6.1% in the 1st 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 during the period. Finally, Colonial Trust Co SC boosted its stake in shares of Packaging Corporation of America by 3.9% during the 4th quarter. Colonial Trust Co SC now owns 2,071 shares of the industrial products company's stock valued at $466,000 after buying an additional 78 shares during the period. Institutional investors and hedge funds own 89.78% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on PKG. Jefferies Financial Group lowered shares of Packaging Corporation of America from a "buy" rating to a "hold" rating and decreased their target price for the company from $245.00 to $205.00 in a research note on Monday, June 16th. Wells Fargo & Company reissued an "equal weight" rating and set a $180.00 target price (down previously from $205.00) on shares of Packaging Corporation of America in a research note on Friday, May 9th. Truist Financial lifted their target price on shares of Packaging Corporation of America from $237.00 to $239.00 and gave the company a "buy" rating in a research note on Tuesday, June 17th. Wall Street Zen lowered shares of Packaging Corporation of America from a "buy" rating to a "hold" rating in a research note on Sunday, April 6th. Finally, UBS Group began coverage on shares of Packaging Corporation of America in a research note on Wednesday, June 4th. They set a "neutral" rating and a $200.00 target price for the company. Five analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Packaging Corporation of America presently has a consensus rating of "Hold" and an average price target of $211.80.

Packaging Corporation of America Stock Up 0.8%

PKG stock opened at $202.84 on Wednesday. The company has a current ratio of 3.28, a quick ratio of 2.15 and a debt-to-equity ratio of 0.55. Packaging Corporation of America has a 1 year low of $172.72 and a 1 year high of $250.82. The company has a fifty day simple moving average of $191.26 and a 200 day simple moving average of $202.48. The firm has a market cap of $18.25 billion, a PE ratio of 21.22, a PEG ratio of 2.66 and a beta of 0.82.

Packaging Corporation of America (NYSE:PKG - Get Free Report) last announced its earnings results on Tuesday, April 22nd. The industrial products company reported $2.31 EPS for the quarter, topping 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%. Sell-side analysts anticipate that Packaging Corporation of America will post 10.44 EPS for the current fiscal year.

Packaging Corporation of America Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Investors 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 yield of 2.46%. Packaging Corporation of America's dividend payout ratio (DPR) is presently 52.30%.

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.

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