Stiles Financial Services Inc Buys 156 Shares of Packaging Corporation of America (NYSE:PKG)

Stiles Financial Services Inc increased its stake in Packaging Corporation of America (NYSE:PKG) by 2.8% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,703 shares of the industrial products company’s stock after acquiring an additional 156 shares during the quarter. Stiles Financial Services Inc’s holdings in Packaging Corporation of America were worth $1,130,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Lazard Asset Management LLC increased its stake in shares of Packaging Corporation of America by 1,033.3% in the 4th quarter. Lazard Asset Management LLC now owns 204 shares of the industrial products company’s stock valued at $45,000 after acquiring an additional 186 shares in the last quarter. Rialto Wealth Management LLC bought a new stake in Packaging Corporation of America during the 4th quarter valued at $63,000. Intact Investment Management Inc. bought a new stake in Packaging Corporation of America during the 4th quarter valued at $68,000. Ameriflex Group Inc. bought a new stake in Packaging Corporation of America during the 4th quarter valued at $64,000. Finally, Global Retirement Partners LLC increased its stake in Packaging Corporation of America by 83.8% during the 4th quarter. Global Retirement Partners LLC now owns 307 shares of the industrial products company’s stock valued at $69,000 after purchasing an additional 140 shares in the last quarter. Institutional investors own 89.78% of the company’s stock.

Analyst Ratings Changes

PKG has been the subject of a number of recent research reports. 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 boosted 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. UBS Group initiated coverage on shares of Packaging Corporation of America in a research note on Wednesday, June 4th. They set a “neutral” rating and a $200.00 price target for the company. Wall Street Zen lowered shares of Packaging Corporation of America from a “buy” rating to a “hold” rating in a research note on Sunday, April 6th. Finally, Jefferies Financial Group lowered shares of Packaging Corporation of America from a “buy” rating to a “hold” rating and decreased their price target for the company from $245.00 to $205.00 in a research note on Monday, June 16th. Five equities research 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 company’s stock. Based on data from MarketBeat, Packaging Corporation of America currently has an average rating of “Hold” and an average price target of $211.80.

Packaging Corporation of America Stock Performance

NYSE PKG opened at $186.95 on Monday. Packaging Corporation of America has a 1 year low of $172.72 and a 1 year high of $250.82. 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 firm has a market cap of $16.82 billion, a price-to-earnings ratio of 19.56, a PEG ratio of 2.47 and a beta of 0.84. The company has a fifty day moving average price of $189.16 and a 200-day moving average price of $205.62.

Packaging Corporation of America (NYSE:PKG) last posted its 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 during the quarter, compared to analyst estimates of $2.12 billion. As a group, equities research analysts predict that Packaging Corporation of America will post 10.44 EPS for the current fiscal year.

Packaging Corporation of America Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Friday, June 13th will be given a dividend of $1.25 per share. The ex-dividend date is Friday, June 13th. This represents a $5.00 annualized dividend and a yield of 2.67%. Packaging Corporation of America’s payout ratio is currently 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.