MQS Management LLC Has $711,000 Position in Packaging Corporation of America (NYSE:PKG)

MQS Management LLC grew its position in Packaging Corporation of America (NYSE:PKG) by 263.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,592 shares of the industrial products company’s stock after acquiring an additional 2,604 shares during the period. MQS Management LLC’s holdings in Packaging Corporation of America were worth $711,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Distillate Capital Partners LLC bought a new position in shares of Packaging Corporation of America in the 4th quarter valued at about $15,828,000. Sciencast Management LP bought a new stake in shares of Packaging Corporation of America during the 4th quarter worth about $2,853,000. Korea Investment CORP raised its stake in Packaging Corporation of America by 96.0% in the 4th 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 acquired a new stake in Packaging Corporation of America in the 1st quarter worth about $309,000. Finally, Wealth Enhancement Advisory Services LLC raised its stake in Packaging Corporation of America by 5.6% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 28,639 shares of the industrial products company’s stock worth $5,671,000 after purchasing an additional 1,531 shares in the last quarter. Institutional investors own 89.78% of the company’s stock.

Analyst Ratings Changes

PKG has been the subject of several analyst reports. 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 research note on Wednesday. Jefferies Financial Group cut shares of Packaging Corporation of America from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $245.00 to $205.00 in a research note on Monday, June 16th. Wells Fargo & Company lifted their price objective on shares of Packaging Corporation of America from $180.00 to $200.00 and gave the stock an “equal weight” rating in a research note on Thursday. Truist Financial boosted their target price on shares of Packaging Corporation of America from $237.00 to $239.00 and gave the company a “buy” rating in a research report on Tuesday, June 17th. Finally, Wall Street Zen cut shares of Packaging Corporation of America from a “buy” rating to a “hold” rating in a research report on Sunday, April 6th. Five investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Packaging Corporation of America has a consensus rating of “Hold” and an average price target of $217.80.

Packaging Corporation of America Trading Down 0.6%

PKG opened at $205.90 on Friday. Packaging Corporation of America has a fifty-two week low of $172.72 and a fifty-two week 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 capitalization of $18.53 billion, a price-to-earnings ratio of 21.54, a PEG ratio of 2.72 and a beta of 0.82. The company’s 50 day moving average price is $192.48 and its two-hundred day moving average price is $202.02.

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, beating analysts’ consensus estimates of $2.21 by $0.10. The company had revenue of $2.14 billion for the quarter, compared to analyst estimates of $2.12 billion. Packaging Corporation of America had a net margin of 10.09% and a return on equity of 20.08%. As a group, research analysts predict that Packaging Corporation of America will post 10.44 earnings per share for the current year.

Packaging Corporation of America Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Friday, June 13th will be issued 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 2.43%. Packaging Corporation of America’s payout ratio is 52.30%.

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.