Pacer Advisors Inc. Reduces Holdings in Packaging Corporation of America (NYSE:PKG)

Pacer Advisors Inc. decreased its holdings in shares of Packaging Corporation of America (NYSE:PKG) by 58.6% during the first quarter, Holdings Channel.com reports. The fund owned 6,223 shares of the industrial products company’s stock after selling 8,817 shares during the period. Pacer Advisors Inc.’s holdings in Packaging Corporation of America were worth $1,232,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the business. Exchange Traded Concepts LLC grew its stake in shares of Packaging Corporation of America by 20.6% during the first quarter. Exchange Traded Concepts LLC now owns 387 shares of the industrial products company’s stock worth $77,000 after acquiring an additional 66 shares during the last quarter. Avidian Wealth Enterprises LLC boosted its position in Packaging Corporation of America by 6.1% in the first quarter. Avidian Wealth Enterprises LLC now owns 1,308 shares of the industrial products company’s stock valued at $259,000 after buying an additional 75 shares during the last quarter. Colonial Trust Co SC boosted its position in Packaging Corporation of America by 3.9% in the fourth quarter. Colonial Trust Co SC now owns 2,071 shares of the industrial products company’s stock valued at $466,000 after buying an additional 78 shares during the last quarter. Nissay Asset Management Corp Japan ADV boosted its position in Packaging Corporation of America by 0.7% in the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 10,857 shares of the industrial products company’s stock valued at $2,466,000 after buying an additional 80 shares during the last quarter. Finally, Integrated Advisors Network LLC boosted its position in Packaging Corporation of America by 2.7% in the fourth quarter. Integrated Advisors Network LLC now owns 3,095 shares of the industrial products company’s stock valued at $697,000 after buying an additional 82 shares during the last quarter. Hedge funds and other institutional investors own 89.78% of the company’s stock.

Packaging Corporation of America Trading Down 2.1%

Packaging Corporation of America stock opened at $198.73 on Thursday. The company has a current ratio of 3.28, a quick ratio of 2.15 and a debt-to-equity ratio of 0.55. Packaging Corporation of America has a 12 month low of $172.71 and a 12 month high of $250.82. The stock’s 50 day simple moving average is $196.46 and its two-hundred day simple moving average is $200.07. The firm has a market cap of $17.88 billion, a PE ratio of 19.83, a P/E/G ratio of 2.39 and a beta of 0.82.

Packaging Corporation of America (NYSE:PKG) last released its quarterly earnings data on Wednesday, July 23rd. The industrial products company reported $2.48 EPS for the quarter, topping the consensus estimate of $2.44 by $0.04. Packaging Corporation of America had a return on equity of 20.36% and a net margin of 10.47%. The business had revenue of $2.17 billion for the quarter, compared to analyst estimates of $2.18 billion. During the same quarter in the prior year, the firm posted $2.20 EPS. The business’s quarterly revenue was up 4.7% compared to the same quarter last year. 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 Tuesday, July 15th. Stockholders of record on Friday, June 13th were paid a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a dividend yield of 2.52%. The ex-dividend date was Friday, June 13th. Packaging Corporation of America’s payout ratio is 49.90%.

Wall Street Analysts Forecast Growth

PKG has been the topic of a number of recent research reports. UBS Group upped their target price on Packaging Corporation of America from $210.00 to $220.00 and gave the company a “neutral” rating in a research report on Tuesday. Citigroup upped their target price on 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. Wells Fargo & Company upped their target price on Packaging Corporation of America from $180.00 to $200.00 and gave the company an “equal weight” rating in a research report on Thursday, July 10th. Jefferies Financial Group lowered 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 objective on Packaging Corporation of America from $239.00 to $238.00 and set a “buy” rating on the stock in a research report on Friday, July 25th. Five analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target 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.