Mutual of America Capital Management LLC Has $2.05 Million Stock Position in Packaging Corporation of America (NYSE:PKG)

Mutual of America Capital Management LLC cut its position in Packaging Corporation of America (NYSE:PKG) by 2.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 10,368 shares of the industrial products company’s stock after selling 312 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Packaging Corporation of America were worth $2,053,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Distillate Capital Partners LLC bought a new position in Packaging Corporation of America during the 4th quarter valued at about $15,828,000. Sciencast Management LP acquired a new position in shares of Packaging Corporation of America in the fourth quarter valued at approximately $2,853,000. Korea Investment CORP lifted its position in shares of Packaging Corporation of America by 96.0% in the fourth quarter. Korea Investment CORP now owns 71,004 shares of the industrial products company’s stock worth $15,985,000 after purchasing an additional 34,784 shares in the last quarter. Sowell Financial Services LLC bought a new stake in shares of Packaging Corporation of America in the first quarter worth $309,000. Finally, Wealth Enhancement Advisory Services LLC raised its position in Packaging Corporation of America by 5.6% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 28,639 shares of the industrial products company’s stock worth $5,671,000 after acquiring an additional 1,531 shares in the last quarter. Institutional investors and hedge funds own 89.78% of the company’s stock.

Packaging Corporation of America Price Performance

Shares of NYSE:PKG opened at $199.82 on Friday. The company has a market capitalization of $17.98 billion, a PE ratio of 20.90, a PEG ratio of 2.64 and a beta of 0.82. 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 business has a fifty day moving average price of $194.52 and a 200-day moving average price of $201.16. Packaging Corporation of America has a 1-year low of $172.72 and a 1-year high of $250.82.

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

Packaging Corporation of America Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Friday, June 13th were paid a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a yield of 2.50%. The ex-dividend date of this dividend was Friday, June 13th. Packaging Corporation of America’s payout ratio is 52.30%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on PKG shares. Truist Financial upped their price target on shares of Packaging Corporation of America from $237.00 to $239.00 and gave the company a “buy” rating in a research note on Tuesday, June 17th. Jefferies Financial Group downgraded shares of 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 report on Monday, June 16th. UBS Group lifted their price objective on shares of Packaging Corporation of America from $200.00 to $210.00 and gave the stock a “neutral” rating in a report on Wednesday, July 9th. Wells Fargo & Company boosted their price target on shares of Packaging Corporation of America from $180.00 to $200.00 and gave the stock an “equal weight” rating in a report on Thursday, July 10th. Finally, Wall Street Zen cut Packaging Corporation of America from a “buy” rating to a “hold” rating in a research note on Sunday, April 6th. Five research analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $217.80.

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.