AMI Asset Management Corp Takes $637,000 Position in Packaging Corporation of America (NYSE:PKG)

AMI Asset Management Corp acquired a new stake in shares of Packaging Corporation of America (NYSE:PKG) in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 3,216 shares of the industrial products company’s stock, valued at approximately $637,000.

Other large investors also recently bought and sold shares of the company. Jackson Creek Investment Advisors LLC purchased a new position in Packaging Corporation of America during the 4th quarter valued at $293,000. AlphaQuest LLC boosted its holdings in Packaging Corporation of America by 25.3% during the 4th quarter. AlphaQuest LLC now owns 9,683 shares of the industrial products company’s stock valued at $2,180,000 after acquiring an additional 1,954 shares during the period. Distillate Capital Partners LLC purchased a new position in Packaging Corporation of America during the 4th quarter valued at $15,828,000. Sciencast Management LP purchased a new position in Packaging Corporation of America during the 4th quarter valued at $2,853,000. Finally, Korea Investment CORP boosted its holdings in Packaging Corporation of America by 96.0% during the 4th quarter. Korea Investment CORP now owns 71,004 shares of the industrial products company’s stock valued at $15,985,000 after acquiring an additional 34,784 shares during the period. Hedge funds and other institutional investors own 89.78% of the company’s stock.

Packaging Corporation of America Price Performance

Shares of PKG stock opened at $187.09 on Thursday. The company has a current ratio of 3.28, a quick ratio of 2.15 and a debt-to-equity ratio of 0.55. The stock has a market capitalization of $16.83 billion, a price-to-earnings ratio of 19.57, a P/E/G ratio of 2.50 and a beta of 0.84. Packaging Corporation of America has a twelve month low of $172.72 and a twelve month high of $250.82. The stock has a fifty day simple moving average of $189.15 and a two-hundred day simple moving average of $205.01.

Packaging Corporation of America (NYSE:PKG) last issued 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. The firm had revenue of $2.14 billion during the quarter, compared to analysts’ expectations of $2.12 billion. Packaging Corporation of America had a return on equity of 20.08% and a net margin of 10.09%. On average, analysts predict that Packaging Corporation of America will post 10.44 EPS for the current fiscal year.

Packaging Corporation of America Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Friday, June 13th will be paid a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.67%. The ex-dividend date of this dividend is Friday, June 13th. Packaging Corporation of America’s dividend payout ratio (DPR) is currently 52.30%.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on PKG. UBS Group began coverage on Packaging Corporation of America in a report on Wednesday, June 4th. They set a “neutral” rating and a $200.00 price objective for the company. Wells Fargo & Company reiterated an “equal weight” rating and issued a $180.00 target price (down from $205.00) on shares of Packaging Corporation of America in a report on Friday, May 9th. Wall Street Zen cut Packaging Corporation of America from a “buy” rating to a “hold” rating in a report on Sunday, April 6th. Truist Financial upped their target price on Packaging Corporation of America from $237.00 to $239.00 and gave the stock a “buy” rating in a report on Tuesday, June 17th. Finally, Jefferies Financial Group cut Packaging Corporation of America from a “buy” rating to a “hold” rating and lowered their target price for the stock from $245.00 to $205.00 in a report 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, the company presently has an average rating of “Hold” and an average 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.