SteelPeak Wealth LLC Purchases Shares of 10,907 Packaging Corporation of America (NYSE:PKG)

SteelPeak Wealth LLC purchased a new stake in shares of Packaging Corporation of America (NYSE:PKG - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 10,907 shares of the industrial products company's stock, valued at approximately $2,172,000.

Other institutional investors have also added to or reduced their stakes in the company. EverSource Wealth Advisors LLC boosted its holdings in shares of 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 holdings in shares of 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 holdings 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 purchasing an additional 70 shares during the period. Avidian Wealth Enterprises LLC boosted its holdings in shares of 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 holdings in shares of Packaging Corporation of America by 3.9% in the 4th quarter. Colonial Trust Co SC now owns 2,071 shares of the industrial products company's stock worth $466,000 after purchasing an additional 78 shares during the period. Hedge funds and other institutional investors own 89.78% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on PKG shares. Wall Street Zen cut Packaging Corporation of America from a "buy" rating to a "hold" rating in a report on Sunday, April 6th. Jefferies Financial Group cut 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 report on Monday, June 16th. UBS Group boosted their price objective on Packaging Corporation of America from $200.00 to $210.00 and gave the company a "neutral" rating in a report on Wednesday. Truist Financial boosted their price objective on Packaging Corporation of America from $237.00 to $239.00 and gave the company a "buy" rating in a report on Tuesday, June 17th. Finally, Wells Fargo & Company boosted their price objective on Packaging Corporation of America from $180.00 to $200.00 and gave the company an "equal weight" rating in a report on Thursday. Five analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Packaging Corporation of America currently has a consensus rating of "Hold" and a consensus price target of $217.80.

Packaging Corporation of America Price Performance

Shares of PKG stock opened at $205.90 on Friday. Packaging Corporation of America has a twelve month low of $172.72 and a twelve month high of $250.82. The stock has a market capitalization of $18.53 billion, a price-to-earnings ratio of 21.54, a P/E/G ratio of 2.74 and a beta of 0.82. The stock has a fifty day simple moving average of $192.48 and a two-hundred day simple moving average of $202.20. 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 (NYSE:PKG - Get Free Report) last issued its earnings results on Tuesday, April 22nd. The industrial products company reported $2.31 earnings per share for the quarter, topping the consensus estimate of $2.21 by $0.10. Packaging Corporation of America had a return on equity of 20.08% and a net margin of 10.09%. The business had revenue of $2.14 billion during the quarter, compared to analysts' expectations of $2.12 billion. On average, analysts predict that Packaging Corporation of America will post 10.44 EPS for the current fiscal year.

Packaging Corporation of America Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Friday, June 13th will be issued a $1.25 dividend. This represents a $5.00 annualized dividend and a dividend yield of 2.43%. The ex-dividend date of this dividend is Friday, June 13th. Packaging Corporation of America's dividend payout ratio is 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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