Texas Yale Capital Corp. Trims Stake in Packaging Corporation of America (NYSE:PKG)

Key Points

• Texas Yale Capital Corp. has reduced its stake in Packaging Corporation of America by 19.9%, now holding 11,922 shares valued at approximately $2.36 million.
• Analysts have mixed views on Packaging Corporation of America, with Wells Fargo raising its target price to $200 while other firms like Wall Street Zen downgraded to a "hold" rating.
• The company recently reported quarterly earnings of $2.48 per share, exceeding expectations, with a year-over-year revenue increase of 4.7%.

Texas Yale Capital Corp. reduced its position in Packaging Corporation of America (NYSE:PKG - Free Report) by 19.9% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 11,922 shares of the industrial products company's stock after selling 2,960 shares during the period. Texas Yale Capital Corp.'s holdings in Packaging Corporation of America were worth $2,361,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Packaging Corporation of America by 1.6% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 25,747 shares of the industrial products company's stock valued at $5,098,000 after purchasing an additional 409 shares during the last quarter. Spectrum Wealth Counsel LLC purchased a new position in shares of Packaging Corporation of America during the 1st quarter worth approximately $3,854,000. Investment Management Corp VA ADV raised its stake in shares of Packaging Corporation of America by 30.4% during the 1st quarter. Investment Management Corp VA ADV now owns 2,591 shares of the industrial products company's stock worth $513,000 after buying an additional 604 shares in the last quarter. Empirical Finance LLC raised its stake in shares of Packaging Corporation of America by 3.8% during the 1st quarter. Empirical Finance LLC now owns 3,191 shares of the industrial products company's stock worth $632,000 after buying an additional 118 shares in the last quarter. Finally, TD Asset Management Inc raised its stake in shares of Packaging Corporation of America by 66.6% during the 1st quarter. TD Asset Management Inc now owns 53,004 shares of the industrial products company's stock worth $10,496,000 after buying an additional 21,182 shares in the last quarter. 89.78% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. Wells Fargo & Company increased 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 note on Thursday, July 10th. Wall Street Zen downgraded Packaging Corporation of America from a "buy" rating to a "hold" rating in a research note on Sunday, April 6th. Truist Financial cut 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 note on Friday. Citigroup increased their target price on Packaging Corporation of America from $197.00 to $214.00 and gave the stock a "neutral" rating in a research note on Friday. Finally, UBS Group increased their target price on Packaging Corporation of America from $200.00 to $210.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 9th. 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 company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $213.40.

Packaging Corporation of America Stock Performance

PKG opened at $206.42 on Monday. The stock has a market cap of $18.57 billion, a P/E ratio of 20.60, a P/E/G ratio of 2.72 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 stock's 50 day simple moving average is $195.91 and its 200 day simple moving average is $200.23. Packaging Corporation of America has a 1-year low of $172.71 and a 1-year high of $250.82.

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

Packaging Corporation of America Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Friday, June 13th were issued a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a yield of 2.42%. The ex-dividend date was Friday, June 13th. Packaging Corporation of America's dividend payout ratio (DPR) is presently 49.90%.

About Packaging Corporation of America

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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