Ritholtz Wealth Management Has $1.06 Million Position in Packaging Corporation of America (NYSE:PKG)

Ritholtz Wealth Management boosted its position in shares of Packaging Corporation of America (NYSE:PKG) by 15.5% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 5,355 shares of the industrial products company’s stock after purchasing an additional 718 shares during the quarter. Ritholtz Wealth Management’s holdings in Packaging Corporation of America were worth $1,060,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of PKG. Centricity Wealth Management LLC bought a new position in Packaging Corporation of America in the fourth quarter valued at approximately $44,000. Lazard Asset Management LLC lifted its stake in Packaging Corporation of America by 1,033.3% in the fourth quarter. Lazard Asset Management LLC now owns 204 shares of the industrial products company’s stock valued at $45,000 after buying an additional 186 shares in the last quarter. Rialto Wealth Management LLC bought a new position in Packaging Corporation of America in the fourth quarter valued at approximately $63,000. Ameriflex Group Inc. bought a new position in Packaging Corporation of America in the fourth quarter valued at approximately $64,000. Finally, Intact Investment Management Inc. bought a new position in Packaging Corporation of America in the fourth quarter valued at approximately $68,000. Institutional investors and hedge funds own 89.78% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on PKG. Wall Street Zen lowered shares of Packaging Corporation of America from a “buy” rating to a “hold” rating in a research report on Sunday, April 6th. UBS Group began coverage on shares of Packaging Corporation of America in a research report on Wednesday, June 4th. They issued a “neutral” rating and a $200.00 price objective on the stock. Truist Financial boosted their price objective on shares of Packaging Corporation of America from $237.00 to $239.00 and gave the stock a “buy” rating in a research report on Tuesday. Jefferies Financial Group lowered shares of Packaging Corporation of America from a “buy” rating to a “hold” rating and cut their price objective for the stock from $245.00 to $205.00 in a research report on Monday. Finally, Wells Fargo & Company reissued an “equal weight” rating and issued a $180.00 price objective (down previously from $205.00) on shares of Packaging Corporation of America in a research report on Friday, May 9th. Five research 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. Based on data from MarketBeat.com, Packaging Corporation of America presently has a consensus rating of “Hold” and a consensus price target of $211.80.

Packaging Corporation of America Stock Performance

NYSE PKG opened at $186.35 on Wednesday. The company has a current ratio of 3.28, a quick ratio of 2.15 and a debt-to-equity ratio of 0.55. The firm’s fifty day moving average price is $189.25 and its two-hundred day moving average price is $207.09. Packaging Corporation of America has a 1 year low of $172.72 and a 1 year high of $250.82. The firm has a market capitalization of $16.77 billion, a P/E ratio of 19.49, a price-to-earnings-growth ratio of 2.51 and a beta of 0.84.

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

Packaging Corporation of America Dividend Announcement

The business 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 $1.25 dividend. This represents a $5.00 annualized dividend and a dividend yield of 2.68%. The ex-dividend date is Friday, June 13th. Packaging Corporation of America’s payout ratio is presently 52.30%.

About Packaging Corporation of America

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.