Packaging Corporation of America $PKG Shares Bought by Swiss National Bank

Swiss National Bank grew its position in shares of Packaging Corporation of America (NYSE:PKG) by 7.1% in the first quarter, Holdings Channel reports. The institutional investor owned 264,100 shares of the industrial products company’s stock after buying an additional 17,500 shares during the period. Swiss National Bank’s holdings in Packaging Corporation of America were worth $56,047,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Benchmark Financial Wealth Advisors LLC raised its holdings in Packaging Corporation of America by 2.1% during the fourth quarter. Benchmark Financial Wealth Advisors LLC now owns 2,345 shares of the industrial products company’s stock worth $484,000 after purchasing an additional 48 shares in the last quarter. River Street Advisors LLC raised its stake in shares of Packaging Corporation of America by 1.0% during the 4th quarter. River Street Advisors LLC now owns 5,362 shares of the industrial products company’s stock worth $1,106,000 after buying an additional 51 shares in the last quarter. Smartleaf Asset Management LLC lifted its holdings in shares of Packaging Corporation of America by 5.2% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,045 shares of the industrial products company’s stock valued at $218,000 after buying an additional 52 shares during the period. TD Private Client Wealth LLC boosted its stake in shares of Packaging Corporation of America by 2.9% in the fourth quarter. TD Private Client Wealth LLC now owns 1,929 shares of the industrial products company’s stock valued at $398,000 after buying an additional 54 shares in the last quarter. Finally, 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 worth $39,000 after acquiring an additional 57 shares during the period. Hedge funds and other institutional investors own 89.78% of the company’s stock.

Packaging Corporation of America Price Performance

Shares of NYSE:PKG opened at $228.16 on Wednesday. The business’s fifty day moving average price is $226.14 and its two-hundred day moving average price is $222.17. The stock has a market cap of $20.33 billion, a PE ratio of 27.76, a price-to-earnings-growth ratio of 2.13 and a beta of 0.80. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.88 and a current ratio of 3.07. Packaging Corporation of America has a one year low of $189.03 and a one year high of $249.51.

Packaging Corporation of America (NYSE:PKG) last issued its quarterly earnings data on Wednesday, April 22nd. The industrial products company reported $2.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.17 by $0.23. The business had revenue of $2.37 billion for the quarter, compared to the consensus estimate of $2.45 billion. Packaging Corporation of America had a return on equity of 19.27% and a net margin of 8.04%.The business’s revenue was up 10.6% on a year-over-year basis. During the same period in the prior year, the business earned $2.31 earnings per share. On average, analysts forecast that Packaging Corporation of America will post 10.46 EPS for the current fiscal year.

Packaging Corporation of America Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Monday, June 15th were paid a $1.50 dividend. This represents a $6.00 annualized dividend and a yield of 2.6%. The ex-dividend date of this dividend was Monday, June 15th. This is a positive change from Packaging Corporation of America’s previous quarterly dividend of $1.25. Packaging Corporation of America’s dividend payout ratio is presently 72.99%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on PKG shares. Truist Financial raised their target price on Packaging Corporation of America from $258.00 to $270.00 and gave the company a “buy” rating in a report on Wednesday, July 15th. Bank of America increased their price target on shares of Packaging Corporation of America from $242.00 to $263.00 and gave the company a “buy” rating in a report on Tuesday, July 14th. Deutsche Bank Aktiengesellschaft raised shares of Packaging Corporation of America from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $225.00 to $256.00 in a report on Monday, May 4th. Weiss Ratings lowered shares of Packaging Corporation of America from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, May 26th. Finally, Citigroup increased their target price on shares of Packaging Corporation of America from $229.00 to $241.00 and gave the company a “neutral” rating in a report on Thursday, July 9th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $256.14.

Insider Transactions at Packaging Corporation of America

In other Packaging Corporation of America news, CEO Mark W. Kowlzan sold 9,266 shares of the company’s stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $217.08, for a total value of $2,011,463.28. Following the transaction, the chief executive officer directly owned 473,610 shares in the company, valued at approximately $102,811,258.80. This represents a 1.92% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.60% of the company’s stock.

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.