OLD Second National Bank of Aurora Decreases Holdings in Packaging Corporation of America (NYSE:PKG)

OLD Second National Bank of Aurora trimmed its position in Packaging Corporation of America (NYSE:PKG) by 1.3% in the 1st quarter, Holdings Channel.com reports. The fund owned 9,430 shares of the industrial products company’s stock after selling 124 shares during the quarter. OLD Second National Bank of Aurora’s holdings in Packaging Corporation of America were worth $1,867,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of PKG. Vanguard Group Inc. lifted its holdings in shares of Packaging Corporation of America by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 11,423,715 shares of the industrial products company’s stock valued at $2,571,821,000 after purchasing an additional 133,575 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in Packaging Corporation of America by 4.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,069,949 shares of the industrial products company’s stock valued at $691,138,000 after buying an additional 132,836 shares in the last quarter. Geode Capital Management LLC raised its stake in Packaging Corporation of America by 1.3% in the fourth quarter. Geode Capital Management LLC now owns 2,366,723 shares of the industrial products company’s stock valued at $531,540,000 after buying an additional 29,427 shares during the last quarter. Invesco Ltd. boosted its holdings in Packaging Corporation of America by 0.8% in the fourth quarter. Invesco Ltd. now owns 1,853,092 shares of the industrial products company’s stock worth $417,187,000 after acquiring an additional 14,775 shares in the last quarter. Finally, Boston Partners grew its stake in shares of Packaging Corporation of America by 7.0% during the fourth quarter. Boston Partners now owns 1,565,351 shares of the industrial products company’s stock worth $352,305,000 after acquiring an additional 101,755 shares during the last quarter. 89.78% of the stock is owned by hedge funds and other institutional investors.

Packaging Corporation of America Stock Performance

PKG opened at $186.19 on Friday. The company has a current ratio of 3.28, a quick ratio of 2.15 and a debt-to-equity ratio of 0.55. Packaging Corporation of America has a 12-month low of $172.72 and a 12-month high of $250.82. The firm has a 50 day moving average of $189.20 and a two-hundred day moving average of $206.54. The firm has a market capitalization of $16.75 billion, a PE ratio of 19.48, a P/E/G ratio of 2.46 and a beta of 0.84.

Packaging Corporation of America (NYSE:PKG) last released its quarterly earnings data on Tuesday, April 22nd. The industrial products company reported $2.31 earnings per share for the quarter, topping analysts’ consensus estimates 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. On average, analysts anticipate that Packaging Corporation of America will post 10.44 EPS for the current year.

Packaging Corporation of America Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Friday, June 13th will be paid a dividend of $1.25 per share. The ex-dividend date is Friday, June 13th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.69%. Packaging Corporation of America’s payout ratio is currently 52.30%.

Wall Street Analysts Forecast Growth

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

Packaging Corporation of America Company 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.