Sowell Financial Services LLC Purchases New Shares in Packaging Corporation of America (NYSE:PKG)

Sowell Financial Services LLC purchased a new stake in Packaging Corporation of America (NYSE:PKG - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 1,561 shares of the industrial products company's stock, valued at approximately $309,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Jackson Creek Investment Advisors LLC acquired a new position in shares of Packaging Corporation of America in the 4th quarter valued at $293,000. AlphaQuest LLC boosted its position in shares of Packaging Corporation of America by 25.3% in the 4th quarter. AlphaQuest LLC now owns 9,683 shares of the industrial products company's stock valued at $2,180,000 after purchasing an additional 1,954 shares during the period. Distillate Capital Partners LLC acquired a new position in shares of Packaging Corporation of America in the 4th quarter valued at $15,828,000. Sciencast Management LP acquired a new position in shares of Packaging Corporation of America in the 4th quarter valued at $2,853,000. Finally, Korea Investment CORP boosted 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 valued at $15,985,000 after purchasing an additional 34,784 shares during the period. Institutional investors and hedge funds own 89.78% of the company's stock.

Packaging Corporation of America Stock Up 0.4%

Shares of Packaging Corporation of America stock opened at $186.95 on Friday. The firm has a market cap of $16.82 billion, a price-to-earnings ratio of 19.56, a P/E/G ratio of 2.47 and a beta of 0.84. The company has a debt-to-equity ratio of 0.55, a current ratio of 3.28 and a quick ratio of 2.15. Packaging Corporation of America has a 52-week low of $172.72 and a 52-week high of $250.82. The stock has a 50-day simple moving average of $189.16 and a 200-day simple moving average of $205.89.

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

Packaging Corporation of America Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Friday, June 13th will be issued a dividend of $1.25 per share. The ex-dividend date is Friday, June 13th. This represents a $5.00 annualized dividend and a dividend yield of 2.67%. Packaging Corporation of America's dividend payout ratio is 52.30%.

Wall Street Analyst Weigh In

A number of brokerages have commented on PKG. Wells Fargo & Company restated an "equal weight" rating and set a $180.00 price objective (down from $205.00) on shares of Packaging Corporation of America in a research report on Friday, May 9th. 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. Truist Financial boosted their price objective on shares of Packaging Corporation of America from $237.00 to $239.00 and gave the company a "buy" rating in a research report on Tuesday, June 17th. 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 company from $245.00 to $205.00 in a research note on Monday, June 16th. Finally, UBS Group started 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 target price for the company. Five investment 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 company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $211.80.

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.

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