Wealth Enhancement Advisory Services LLC Increases Stock Holdings in Packaging Corporation of America (NYSE:PKG)

Wealth Enhancement Advisory Services LLC boosted its stake in shares of Packaging Corporation of America (NYSE:PKG - Free Report) by 5.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 28,639 shares of the industrial products company's stock after purchasing an additional 1,531 shares during the quarter. Wealth Enhancement Advisory Services LLC's holdings in Packaging Corporation of America were worth $5,671,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the stock. Jackson Creek Investment Advisors LLC bought a new position in Packaging Corporation of America in the fourth quarter worth $293,000. AlphaQuest LLC lifted its position in shares of Packaging Corporation of America by 25.3% during the 4th quarter. AlphaQuest LLC now owns 9,683 shares of the industrial products company's stock worth $2,180,000 after buying 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 worth approximately $15,828,000. Sciencast Management LP acquired a new position in Packaging Corporation of America during the 4th quarter worth about $2,853,000. Finally, Korea Investment CORP increased its holdings in shares of Packaging Corporation of America by 96.0% in the fourth 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 in the last quarter. 89.78% of the stock is owned by institutional investors.

Packaging Corporation of America Trading Up 0.5%

Shares of NYSE:PKG traded up $0.97 during mid-day trading on Thursday, reaching $187.81. 560,075 shares of the company's stock were exchanged, compared to its average volume of 895,573. The company has a debt-to-equity ratio of 0.55, a quick ratio of 2.15 and a current ratio of 3.28. 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 $16.90 billion, a price-to-earnings ratio of 19.65, a PEG ratio of 2.50 and a beta of 0.84. The business's fifty day moving average price is $189.15 and its 200-day moving average price is $205.01.

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 (EPS) for the quarter, topping analysts' consensus estimates of $2.21 by $0.10. The company had revenue of $2.14 billion for the quarter, compared to analysts' expectations 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, research analysts predict that Packaging Corporation of America will post 10.44 EPS 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 $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.66%. The ex-dividend date of this dividend is Friday, June 13th. Packaging Corporation of America's payout ratio is 52.30%.

Analyst Ratings Changes

Several research firms have recently issued reports on PKG. Jefferies Financial Group lowered Packaging Corporation of America from a "buy" rating to a "hold" rating and decreased their target price for the stock from $245.00 to $205.00 in a research report on Monday, June 16th. UBS Group began 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. Truist Financial increased 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. Wells Fargo & Company reissued an "equal weight" rating and set a $180.00 target price (down from $205.00) on shares of Packaging Corporation of America in a report on Friday, May 9th. Finally, Wall Street Zen cut shares of Packaging Corporation of America from a "buy" rating to a "hold" rating in a research note on Sunday, April 6th. Five equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $211.80.

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.