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Packaging Corporation of America (NYSE:PKG) Stock Holdings Increased by Skandinaviska Enskilda Banken AB publ

Packaging Corporation of America logo with Industrials background

Key Points

  • Skandinaviska Enskilda Banken AB increased its stake in Packaging Corporation of America by 52.4%, acquiring an additional 29,900 shares, bringing its total ownership to approximately 86,976 shares valued at $17,223,000.
  • Packaging Corporation of America recently announced a quarterly dividend of $1.25 per share, representing a dividend yield of 2.42% and a payout ratio of 49.90%.
  • Analysts have varying target prices for Packaging Corporation of America, with UBS Group and Citigroup increasing their targets to $210.00 and $214.00 respectively, while the average consensus price target currently stands at $213.40.
  • Five stocks to consider instead of Packaging Corporation of America.

Skandinaviska Enskilda Banken AB publ boosted its holdings in shares of Packaging Corporation of America (NYSE:PKG - Free Report) by 52.4% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 86,976 shares of the industrial products company's stock after purchasing an additional 29,900 shares during the quarter. Skandinaviska Enskilda Banken AB publ owned approximately 0.10% of Packaging Corporation of America worth $17,223,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of PKG. Meiji Yasuda Asset Management Co Ltd. grew its position in shares of 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 acquiring an additional 70 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp grew its position in shares of Packaging Corporation of America by 23.6% in the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 94,194 shares of the industrial products company's stock worth $21,206,000 after acquiring an additional 17,980 shares in the last quarter. Korea Investment CORP grew its position in shares of Packaging Corporation of America by 96.0% in the 4th quarter. Korea Investment CORP now owns 71,004 shares of the industrial products company's stock worth $15,985,000 after acquiring an additional 34,784 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in shares of Packaging Corporation of America by 11.2% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 141,683 shares of the industrial products company's stock worth $32,003,000 after acquiring an additional 14,253 shares in the last quarter. Finally, UniSuper Management Pty Ltd grew its position in shares of Packaging Corporation of America by 14.9% in the 4th quarter. UniSuper Management Pty Ltd now owns 10,462 shares of the industrial products company's stock worth $2,355,000 after acquiring an additional 1,360 shares in the last quarter. 89.78% of the stock is currently owned by hedge funds and other institutional investors.

Packaging Corporation of America Stock Performance

NYSE:PKG traded down $2.82 during midday trading on Wednesday, reaching $200.25. 370,375 shares of the company traded hands, compared to its average volume of 864,097. Packaging Corporation of America has a twelve month low of $172.71 and a twelve month high of $250.82. The firm has a market capitalization of $18.02 billion, a price-to-earnings ratio of 19.97, a price-to-earnings-growth ratio of 2.40 and a beta of 0.82. The company has a debt-to-equity ratio of 0.55, a current ratio of 3.28 and a quick ratio of 2.15. The company has a fifty day moving average price of $196.30 and a 200 day moving average price of $200.08.

Packaging Corporation of America (NYSE:PKG - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The industrial products company reported $2.48 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.44 by $0.04. Packaging Corporation of America had a return on equity of 20.36% and a net margin of 10.47%. The business had revenue of $2.17 billion during the quarter, compared to analyst estimates of $2.18 billion. During the same quarter in the previous year, the firm posted $2.20 EPS. The business's revenue for the quarter was up 4.7% compared to the same quarter last year. On average, analysts expect that Packaging Corporation of America will post 10.44 EPS for the current fiscal year.

Packaging Corporation of America Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Friday, June 13th were paid a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a yield of 2.50%. The ex-dividend date was Friday, June 13th. Packaging Corporation of America's payout ratio is currently 49.90%.

Analyst Ratings Changes

PKG has been the subject of several research reports. Wells Fargo & Company lifted their target price on Packaging Corporation of America from $180.00 to $200.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 10th. Truist Financial decreased their target price on Packaging Corporation of America from $239.00 to $238.00 and set a "buy" rating for the company in a research report on Friday, July 25th. Wall Street Zen lowered Packaging Corporation of America from a "buy" rating to a "hold" rating in a research report on Sunday, April 6th. UBS Group lifted their target price on Packaging Corporation of America from $210.00 to $220.00 and gave the stock a "neutral" rating in a research report on Tuesday. Finally, 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 research report on Monday, June 16th. Five equities 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 stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $215.40.

Get Our Latest Research Report on Packaging Corporation of America

Packaging Corporation of America Company Profile

(Free Report)

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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Institutional Ownership by Quarter for Packaging Corporation of America (NYSE:PKG)

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