Townsquare Capital LLC Acquires 2,025 Shares of Packaging Corporation of America $PKG

Key Points

• Townsquare Capital LLC increased its stake in Packaging Corporation of America by 62.9%, totaling 5,242 shares valued at approximately $1,038,000.
• The company's stock recently traded at $193.46, seeing a 1.6% decline, with a 12-month trading range of $172.71 to $250.82.
• Morgan Stanley and other analysts recently adjusted their price targets for the stock, with Citigroup raising its target from $197.00 to $214.00, indicating a consensus rating of "Hold."

Townsquare Capital LLC increased its position in Packaging Corporation of America (NYSE:PKG - Free Report) by 62.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,242 shares of the industrial products company's stock after buying an additional 2,025 shares during the quarter. Townsquare Capital LLC's holdings in Packaging Corporation of America were worth $1,038,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of PKG. Mariner LLC raised its position in Packaging Corporation of America by 2.7% during the fourth quarter. Mariner LLC now owns 35,964 shares of the industrial products company's stock valued at $8,097,000 after buying an additional 957 shares during the period. Canada Post Corp Registered Pension Plan bought a new position in shares of Packaging Corporation of America during the 4th quarter worth about $262,000. Guggenheim Capital LLC increased its position in shares of Packaging Corporation of America by 1.2% during the 4th quarter. Guggenheim Capital LLC now owns 15,554 shares of the industrial products company's stock worth $3,502,000 after purchasing an additional 185 shares in the last quarter. NewEdge Advisors LLC increased its position in Packaging Corporation of America by 26.3% in the 4th quarter. NewEdge Advisors LLC now owns 14,398 shares of the industrial products company's stock valued at $3,241,000 after acquiring an additional 2,997 shares in the last quarter. Finally, Marshall Wace LLP acquired a new stake in Packaging Corporation of America in the 4th quarter valued at about $31,432,000. Institutional investors and hedge funds own 89.78% of the company's stock.

Packaging Corporation of America Trading Up 0.2%

Packaging Corporation of America stock traded up $0.48 during trading hours on Monday, reaching $193.90. 327,775 shares of the company's stock were exchanged, compared to its average volume of 843,116. The company has a quick ratio of 2.32, a current ratio of 3.54 and a debt-to-equity ratio of 0.54. The firm has a market capitalization of $17.45 billion, a PE ratio of 19.35, a PEG ratio of 2.27 and a beta of 0.85. The firm's 50 day simple moving average is $196.95 and its 200 day simple moving average is $196.33. Packaging Corporation of America has a twelve month low of $172.71 and a twelve month high of $250.82.

Packaging Corporation of America (NYSE:PKG - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The industrial products company reported $2.48 EPS for the quarter, topping analysts' consensus estimates of $2.44 by $0.04. The business had revenue of $2.17 billion during the quarter, compared to analysts' expectations of $2.18 billion. Packaging Corporation of America had a net margin of 10.47% and a return on equity of 20.08%. The business's quarterly revenue was up 4.7% on a year-over-year basis. During the same period last year, the company posted $2.20 earnings per share. Research analysts predict that Packaging Corporation of America will post 10.44 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages have commented on PKG. UBS Group upped their target price on shares of Packaging Corporation of America from $210.00 to $220.00 and gave the company a "neutral" rating in a research note on Tuesday, July 29th. Wells Fargo & Company raised their target price on shares of Packaging Corporation of America from $180.00 to $200.00 and gave the stock an "equal weight" rating in a report on Thursday, July 10th. Citigroup boosted their target price on shares of Packaging Corporation of America from $197.00 to $214.00 and gave the company a "neutral" rating in a research report on Friday, July 25th. Jefferies Financial Group cut shares of Packaging Corporation of America from a "buy" rating to a "hold" rating and lowered their price objective for the stock from $245.00 to $205.00 in a research report on Monday, June 16th. Finally, Truist Financial lowered their price target on shares of Packaging Corporation of America from $239.00 to $238.00 and set a "buy" rating for the company in a report on Friday, July 25th. Five investment 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $215.40.

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.