Packaging Corporation of America $PKG Shares Purchased by UniSuper Management Pty Ltd

UniSuper Management Pty Ltd raised its stake in Packaging Corporation of America (NYSE:PKG) by 14.7% during the third quarter, Holdings Channel reports. The firm owned 103,069 shares of the industrial products company’s stock after purchasing an additional 13,171 shares during the period. UniSuper Management Pty Ltd’s holdings in Packaging Corporation of America were worth $22,462,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in PKG. JLB & Associates Inc. boosted its holdings in Packaging Corporation of America by 0.8% in the third quarter. JLB & Associates Inc. now owns 79,452 shares of the industrial products company’s stock valued at $17,315,000 after acquiring an additional 609 shares during the last quarter. Stiles Financial Services Inc raised its holdings in shares of Packaging Corporation of America by 1.9% in the 3rd quarter. Stiles Financial Services Inc now owns 5,897 shares of the industrial products company’s stock worth $1,285,000 after purchasing an additional 108 shares during the period. Avidian Wealth Enterprises LLC raised its holdings in shares of Packaging Corporation of America by 8.1% in the 3rd quarter. Avidian Wealth Enterprises LLC now owns 1,515 shares of the industrial products company’s stock worth $330,000 after purchasing an additional 114 shares during the period. Rakuten Investment Management Inc. acquired a new position in shares of Packaging Corporation of America in the 3rd quarter valued at about $1,361,000. Finally, Chicago Partners Investment Group LLC grew its holdings in shares of Packaging Corporation of America by 15.2% during the 3rd quarter. Chicago Partners Investment Group LLC now owns 2,193 shares of the industrial products company’s stock worth $452,000 after purchasing an additional 289 shares during the period. 89.78% of the stock is currently owned by institutional investors and hedge funds.

Packaging Corporation of America Price Performance

PKG opened at $225.50 on Friday. The company has a fifty day simple moving average of $206.77 and a 200 day simple moving average of $206.39. The firm has a market cap of $20.29 billion, a price-to-earnings ratio of 22.80, a PEG ratio of 1.67 and a beta of 0.88. Packaging Corporation of America has a twelve month low of $172.71 and a twelve month high of $241.96. The company has a current ratio of 3.16, a quick ratio of 2.00 and a debt-to-equity ratio of 0.84.

Packaging Corporation of America (NYSE:PKG) last posted its quarterly earnings data on Wednesday, October 22nd. The industrial products company reported $2.73 earnings per share for the quarter, missing analysts’ consensus estimates of $2.83 by ($0.10). The firm had revenue of $2.31 billion during the quarter, compared to analysts’ expectations of $2.29 billion. Packaging Corporation of America had a net margin of 10.18% and a return on equity of 19.72%. The business’s quarterly revenue was up 6.0% on a year-over-year basis. During the same period in the previous year, the company earned $2.65 earnings per share. Equities research analysts expect that Packaging Corporation of America will post 10.44 EPS for the current fiscal year.

Packaging Corporation of America Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 14th. Investors of record on Monday, December 15th were paid a $1.25 dividend. The ex-dividend date was Monday, December 15th. This represents a $5.00 annualized dividend and a dividend yield of 2.2%. Packaging Corporation of America’s payout ratio is 50.56%.

Analysts Set New Price Targets

Several research analysts recently commented on PKG shares. Citigroup cut their price target on shares of Packaging Corporation of America from $229.00 to $226.00 and set a “neutral” rating on the stock in a report on Tuesday, January 6th. Zacks Research raised shares of Packaging Corporation of America from a “strong sell” rating to a “hold” rating in a research note on Tuesday, January 6th. Truist Financial upped their price target on shares of Packaging Corporation of America from $263.00 to $273.00 and gave the stock a “buy” rating in a research report on Tuesday, January 6th. JPMorgan Chase & Co. increased their price target on Packaging Corporation of America from $238.00 to $245.00 and gave the company an “overweight” rating in a report on Friday, December 5th. Finally, UBS Group boosted their price objective on Packaging Corporation of America from $230.00 to $235.00 and gave the stock a “neutral” rating in a research note on Monday, January 12th. Four analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Packaging Corporation of America presently has a consensus rating of “Moderate Buy” and an average price target of $236.17.

Packaging Corporation of America Company Profile

Packaging Corporation of America (NYSE: PKG) is a leading North American manufacturer of containerboard and corrugated packaging products. The company produces a range of paper-based packaging solutions including linerboard, corrugating medium, corrugated shipping containers, retail-ready packaging and point-of-purchase displays. In addition to core packaging products, Packaging Corporation of America offers packaging design, testing and supply-chain services intended to optimize protection, cost and sustainability for customers.

Headquartered in Lake Forest, Illinois, the company operates an integrated network of mills and corrugated manufacturing facilities across the United States and serves customers throughout North America in industries such as e-commerce, grocery and food & beverage, consumer packaged goods and industrial markets.