Cambridge Investment Research Advisors Inc. Cuts Stock Holdings in Packaging Corporation of America (NYSE:PKG)

Cambridge Investment Research Advisors Inc. lowered its stake in Packaging Corporation of America (NYSE:PKG) by 9.0% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 14,311 shares of the industrial products company’s stock after selling 1,413 shares during the quarter. Cambridge Investment Research Advisors Inc.’s holdings in Packaging Corporation of America were worth $2,834,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. Buck Wealth Strategies LLC increased its holdings in shares of Packaging Corporation of America by 27.9% in the first quarter. Buck Wealth Strategies LLC now owns 4,882 shares of the industrial products company’s stock worth $967,000 after purchasing an additional 1,064 shares during the last quarter. Praxis Investment Management Inc. increased its stake in Packaging Corporation of America by 15.8% in the 1st quarter. Praxis Investment Management Inc. now owns 3,590 shares of the industrial products company’s stock worth $711,000 after acquiring an additional 490 shares during the last quarter. Blue Trust Inc. raised its holdings in shares of Packaging Corporation of America by 20.1% during the 1st quarter. Blue Trust Inc. now owns 2,371 shares of the industrial products company’s stock worth $469,000 after acquiring an additional 397 shares in the last quarter. State of Alaska Department of Revenue boosted its position in shares of Packaging Corporation of America by 2.8% during the 1st quarter. State of Alaska Department of Revenue now owns 10,448 shares of the industrial products company’s stock valued at $2,068,000 after acquiring an additional 280 shares during the last quarter. Finally, QRG Capital Management Inc. boosted its position in shares of Packaging Corporation of America by 0.6% during the 1st quarter. QRG Capital Management Inc. now owns 89,954 shares of the industrial products company’s stock valued at $17,813,000 after acquiring an additional 574 shares during the last quarter. Hedge funds and other institutional investors own 89.78% of the company’s stock.

Packaging Corporation of America Stock Performance

Packaging Corporation of America stock opened at $188.43 on Tuesday. The company has a debt-to-equity ratio of 0.55, a current ratio of 3.28 and a quick ratio of 2.15. The firm has a market capitalization of $16.95 billion, a P/E ratio of 19.71, a price-to-earnings-growth ratio of 2.50 and a beta of 0.84. Packaging Corporation of America has a 1-year low of $172.72 and a 1-year high of $250.82. The company’s 50-day moving average is $189.34 and its 200 day moving average is $203.48.

Packaging Corporation of America (NYSE:PKG) last posted its quarterly earnings data on Tuesday, April 22nd. The industrial products company reported $2.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.21 by $0.10. The company had revenue of $2.14 billion during 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%. Research analysts forecast that Packaging Corporation of America will post 10.44 EPS for the current year.

Packaging Corporation of America Announces Dividend

The business also recently announced 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. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.65%. The ex-dividend date of this dividend is Friday, June 13th. Packaging Corporation of America’s dividend payout ratio (DPR) is presently 52.30%.

Wall Street Analyst Weigh In

Several equities analysts have commented on PKG shares. 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. Wells Fargo & Company restated an “equal weight” rating and set a $180.00 target price (down from $205.00) on shares of Packaging Corporation of America in a research report on Friday, May 9th. Jefferies Financial Group cut Packaging Corporation of America from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $245.00 to $205.00 in a research note on Monday, June 16th. UBS Group initiated coverage on Packaging Corporation of America in a research report on Wednesday, June 4th. They set a “neutral” rating and a $200.00 price objective on the stock. Finally, Truist Financial lifted 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, June 17th. Five investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $211.80.

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.