Dynamic Advisor Solutions LLC Reduces Stake in Packaging Corporation of America (NYSE:PKG)

Dynamic Advisor Solutions LLC reduced its position in Packaging Corporation of America (NYSE:PKG) by 3.7% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,371 shares of the industrial products company’s stock after selling 170 shares during the period. Dynamic Advisor Solutions LLC’s holdings in Packaging Corporation of America were worth $866,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of PKG. Asset Management One Co. Ltd. boosted its stake in shares of Packaging Corporation of America by 1.3% in the 4th quarter. Asset Management One Co. Ltd. now owns 39,704 shares of the industrial products company’s stock worth $9,016,000 after buying an additional 514 shares during the last quarter. Principal Securities Inc. boosted its stake in shares of Packaging Corporation of America by 38.9% in the 4th quarter. Principal Securities Inc. now owns 1,806 shares of the industrial products company’s stock worth $407,000 after buying an additional 506 shares during the last quarter. Allworth Financial LP raised its holdings in Packaging Corporation of America by 26.0% in the 4th quarter. Allworth Financial LP now owns 393 shares of the industrial products company’s stock worth $94,000 after purchasing an additional 81 shares during the period. J.W. Cole Advisors Inc. raised its holdings in Packaging Corporation of America by 19.0% in the 4th quarter. J.W. Cole Advisors Inc. now owns 2,084 shares of the industrial products company’s stock worth $469,000 after purchasing an additional 333 shares during the period. Finally, Principal Financial Group Inc. raised its holdings in Packaging Corporation of America by 0.7% in the 4th quarter. Principal Financial Group Inc. now owns 463,899 shares of the industrial products company’s stock worth $104,445,000 after purchasing an additional 3,381 shares during the period. 89.78% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

PKG has been the topic of a number of recent research reports. Wells Fargo & Company reaffirmed an “equal weight” rating and issued a $180.00 target price (down from $205.00) on shares of Packaging Corporation of America in a report on Friday, May 9th. Truist Financial raised their target price on Packaging Corporation of America from $237.00 to $239.00 and gave the stock a “buy” rating in a report on Tuesday. Jefferies Financial Group cut Packaging Corporation of America from a “buy” rating to a “hold” rating and decreased their target price for the stock from $245.00 to $205.00 in a report on Monday. UBS Group initiated coverage on Packaging Corporation of America in a report on Wednesday, June 4th. They issued a “neutral” rating and a $200.00 target price on the stock. Finally, Wall Street Zen cut Packaging Corporation of America from a “buy” rating to a “hold” rating in a report on Sunday, April 6th. Five analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $211.80.

Packaging Corporation of America Price Performance

NYSE:PKG opened at $186.35 on Wednesday. The company has a quick ratio of 2.15, a current ratio of 3.28 and a debt-to-equity ratio of 0.55. The business’s 50-day simple moving average is $189.25 and its two-hundred day simple moving average is $207.09. The stock has a market cap of $16.77 billion, a PE ratio of 19.49, a P/E/G ratio of 2.51 and a beta of 0.84. Packaging Corporation of America has a 52 week low of $172.72 and a 52 week high of $250.82.

Packaging Corporation of America (NYSE:PKG) last posted its quarterly earnings results on Tuesday, April 22nd. The industrial products company reported $2.31 EPS for the quarter, beating analysts’ consensus estimates of $2.21 by $0.10. The business had revenue of $2.14 billion for the quarter, compared to analysts’ expectations of $2.12 billion. Packaging Corporation of America had a return on equity of 20.08% and a net margin of 10.09%. As a group, analysts forecast that Packaging Corporation of America will post 10.44 EPS for the current fiscal year.

Packaging Corporation of America Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Friday, June 13th will be given a dividend of $1.25 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.68%. Packaging Corporation of America’s payout ratio is 52.30%.

Packaging Corporation of America 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.