Packaging Corporation of America (NYSE:PKG) Releases Earnings Results, Misses Expectations By $0.09 EPS

Packaging Corporation of America (NYSE:PKG) announced its quarterly earnings results on Tuesday. The industrial products company reported $2.32 earnings per share for the quarter, missing analysts’ consensus estimates of $2.41 by ($0.09), Zacks reports. Packaging Corporation of America had a return on equity of 19.72% and a net margin of 10.18%.

Packaging Corporation of America Stock Up 0.7%

Shares of PKG stock traded up $1.45 on Tuesday, hitting $223.28. The stock had a trading volume of 1,798,542 shares, compared to its average volume of 944,625. The stock has a market cap of $20.09 billion, a price-to-earnings ratio of 22.58, a price-to-earnings-growth ratio of 1.69 and a beta of 0.88. The company has a debt-to-equity ratio of 0.84, a current ratio of 3.16 and a quick ratio of 2.00. The business has a 50 day moving average of $207.28 and a 200 day moving average of $206.54. Packaging Corporation of America has a 12-month low of $172.71 and a 12-month high of $239.66.

Packaging Corporation of America Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 14th. Stockholders 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 dividend payout ratio is presently 50.56%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on PKG shares. Citigroup lowered their price objective on shares of Packaging Corporation of America from $229.00 to $226.00 and set a “neutral” rating for the company in a research report on Tuesday, January 6th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Packaging Corporation of America in a research report on Monday, December 29th. UBS Group upped their price objective on shares of Packaging Corporation of America from $230.00 to $235.00 and gave the stock a “neutral” rating in a research report on Monday, January 12th. Truist Financial upped their target price on Packaging Corporation of America from $263.00 to $273.00 and gave the stock a “buy” rating in a report on Tuesday, January 6th. Finally, Wall Street Zen raised Packaging Corporation of America from a “sell” rating to a “hold” rating in a report on Saturday, January 3rd. Four investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $236.17.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Geneos Wealth Management Inc. grew its holdings in Packaging Corporation of America by 40.4% during the first quarter. Geneos Wealth Management Inc. now owns 198 shares of the industrial products company’s stock valued at $39,000 after purchasing an additional 57 shares during the period. Northwestern Mutual Wealth Management Co. increased its position in shares of Packaging Corporation of America by 3.1% during the third quarter. Northwestern Mutual Wealth Management Co. now owns 2,677 shares of the industrial products company’s stock valued at $584,000 after buying an additional 80 shares during the period. Equitable Holdings Inc. increased its holdings in Packaging Corporation of America by 7.3% during the 3rd quarter. Equitable Holdings Inc. now owns 1,303 shares of the industrial products company’s stock worth $284,000 after acquiring an additional 89 shares during the period. Vident Advisory LLC increased its holdings in shares of Packaging Corporation of America by 2.0% in the second quarter. Vident Advisory LLC now owns 4,942 shares of the industrial products company’s stock worth $931,000 after purchasing an additional 97 shares during the period. Finally, Rehmann Capital Advisory Group raised its holdings in shares of Packaging Corporation of America by 15.1% in the 3rd quarter. Rehmann Capital Advisory Group now owns 1,473 shares of the industrial products company’s stock valued at $322,000 after acquiring an additional 193 shares in the last quarter. 89.78% of the stock is owned by institutional investors.

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.