Rakuten Investment Management Inc. Invests $1.36 Million in Packaging Corporation of America $PKG

Rakuten Investment Management Inc. bought a new stake in Packaging Corporation of America (NYSE:PKG) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 6,243 shares of the industrial products company’s stock, valued at approximately $1,361,000.

A number of other institutional investors have also added to or reduced their stakes in PKG. Vise Technologies Inc. acquired a new stake in Packaging Corporation of America in the 2nd quarter valued at about $1,306,000. Atlas FRM LLC increased its position in Packaging Corporation of America by 59.7% during the second quarter. Atlas FRM LLC now owns 535,000 shares of the industrial products company’s stock worth $100,821,000 after buying an additional 200,000 shares during the last quarter. Carnegie Investment Counsel raised its stake in Packaging Corporation of America by 32.2% in the third quarter. Carnegie Investment Counsel now owns 12,679 shares of the industrial products company’s stock valued at $2,763,000 after buying an additional 3,085 shares during the period. Arvest Bank Trust Division acquired a new stake in shares of Packaging Corporation of America in the second quarter valued at approximately $892,000. Finally, Burney Co. lifted its position in shares of Packaging Corporation of America by 349.3% in the third quarter. Burney Co. now owns 11,066 shares of the industrial products company’s stock valued at $2,412,000 after buying an additional 8,603 shares during the last quarter. 89.78% of the stock is currently owned by institutional investors and hedge funds.

Packaging Corporation of America Stock Up 3.1%

PKG stock opened at $225.50 on Friday. Packaging Corporation of America has a fifty-two week low of $172.71 and a fifty-two week high of $241.96. 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 stock has a market capitalization of $20.29 billion, a price-to-earnings ratio of 22.80, a PEG ratio of 1.72 and a beta of 0.88. The business’s fifty day moving average price is $206.77 and its two-hundred day moving average price is $206.42.

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

Packaging Corporation of America Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on PKG shares. Truist Financial boosted 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. UBS Group upped their price objective on shares of Packaging Corporation of America from $230.00 to $235.00 and gave the company a “neutral” rating in a report on Monday, January 12th. JPMorgan Chase & Co. increased their price objective on shares of Packaging Corporation of America from $238.00 to $245.00 and gave the company an “overweight” rating in a research report on Friday, December 5th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Packaging Corporation of America in a report on Monday, December 29th. Finally, Wells Fargo & Company upgraded shares of Packaging Corporation of America from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $222.00 to $233.00 in a research note on Tuesday, January 6th. Four equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, Packaging Corporation of America currently has a consensus rating of “Moderate Buy” and a consensus target price of $236.17.

Packaging Corporation of America 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.