6,243 Shares in Packaging Corporation of America $PKG Acquired by Rakuten Investment Management Inc.

Rakuten Investment Management Inc. bought a new stake in Packaging Corporation of America (NYSE:PKG) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 6,243 shares of the industrial products company’s stock, valued at approximately $1,361,000.

Several other hedge funds also recently bought and sold shares of PKG. Integrated Wealth Concepts LLC increased its position in shares of Packaging Corporation of America by 73.5% in the 1st quarter. Integrated Wealth Concepts LLC now owns 2,956 shares of the industrial products company’s stock valued at $585,000 after buying an additional 1,252 shares in the last quarter. Empowered Funds LLC lifted its holdings in Packaging Corporation of America by 538.6% during the first quarter. Empowered Funds LLC now owns 6,303 shares of the industrial products company’s stock worth $1,248,000 after acquiring an additional 5,316 shares in the last quarter. Geneos Wealth Management Inc. grew its stake in Packaging Corporation of America by 40.4% in the first quarter. Geneos Wealth Management Inc. now owns 198 shares of the industrial products company’s stock valued at $39,000 after acquiring an additional 57 shares during the period. Sivia Capital Partners LLC increased its holdings in shares of Packaging Corporation of America by 43.6% in the second quarter. Sivia Capital Partners LLC now owns 1,770 shares of the industrial products company’s stock worth $334,000 after acquiring an additional 537 shares in the last quarter. Finally, U.S. Capital Wealth Advisors LLC raised its position in shares of Packaging Corporation of America by 6.9% during the second quarter. U.S. Capital Wealth Advisors LLC now owns 1,488 shares of the industrial products company’s stock worth $280,000 after purchasing an additional 96 shares during the period. 89.78% of the stock is currently owned by institutional investors and hedge funds.

Packaging Corporation of America Price Performance

NYSE PKG opened at $225.50 on Friday. The firm’s 50 day moving average is $206.77 and its 200-day moving average is $206.42. The company has a quick ratio of 2.00, a current ratio of 3.16 and a debt-to-equity ratio of 0.84. The company has a market capitalization of $20.29 billion, a PE ratio of 22.80, a price-to-earnings-growth ratio of 1.72 and a beta of 0.88. Packaging Corporation of America has a 12-month low of $172.71 and a 12-month high of $241.96.

Packaging Corporation of America (NYSE:PKG) last released its earnings results on Wednesday, October 22nd. The industrial products company reported $2.73 earnings per share for the quarter, missing analysts’ consensus estimates of $2.83 by ($0.10). Packaging Corporation of America had a net margin of 10.18% and a return on equity of 19.72%. The business had revenue of $2.31 billion during the quarter, compared to the consensus estimate of $2.29 billion. During the same period last year, the business posted $2.65 EPS. The firm’s revenue for the quarter was up 6.0% on a year-over-year basis. Equities research analysts anticipate that Packaging Corporation of America will post 10.44 earnings per share for the current fiscal year.

Packaging Corporation of America Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 14th. Investors of record on Monday, December 15th were given a $1.25 dividend. The ex-dividend date of this dividend was Monday, December 15th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.2%. Packaging Corporation of America’s payout ratio is currently 50.56%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on PKG shares. Wells Fargo & Company upgraded Packaging Corporation of America from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $222.00 to $233.00 in a research report on Tuesday, January 6th. Wall Street Zen upgraded shares of Packaging Corporation of America from a “sell” rating to a “hold” rating in a report on Saturday, January 3rd. Zacks Research upgraded shares of Packaging Corporation of America from a “strong sell” rating to a “hold” rating in a report on Tuesday, January 6th. Citigroup cut their price objective on shares of Packaging Corporation of America from $229.00 to $226.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 6th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Packaging Corporation of America in a report on Monday, December 29th. Four research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $236.17.

About Packaging Corporation of America

Packaging Corporation of America (NYSE: PKG) is a leading North American manufacturer of containerboard and corrugated packaging products. The company produces a range of paper-based packaging solutions including linerboard, corrugating medium, corrugated shipping containers, retail-ready packaging and point-of-purchase displays. In addition to core packaging products, Packaging Corporation of America offers packaging design, testing and supply-chain services intended to optimize protection, cost and sustainability for customers.

Headquartered in Lake Forest, Illinois, the company operates an integrated network of mills and corrugated manufacturing facilities across the United States and serves customers throughout North America in industries such as e-commerce, grocery and food & beverage, consumer packaged goods and industrial markets.