UniSuper Management Pty Ltd Grows Stake in Packaging Corporation of America $PKG

UniSuper Management Pty Ltd increased its position in shares of Packaging Corporation of America (NYSE:PKG) by 14.7% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 103,069 shares of the industrial products company’s stock after purchasing an additional 13,171 shares during the quarter. UniSuper Management Pty Ltd owned 0.11% of Packaging Corporation of America worth $22,462,000 as of its most recent filing with the SEC.

Several other large investors also recently bought and sold shares of the company. Trust Co. of Toledo NA OH acquired a new position in shares of Packaging Corporation of America during the 2nd quarter worth $33,000. Geneos Wealth Management Inc. increased its holdings in Packaging Corporation of America by 40.4% during the 1st 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 in the last quarter. NBT Bank N A NY purchased a new position in Packaging Corporation of America during the 3rd quarter valued at about $41,000. Global Wealth Strategies & Associates acquired a new position in Packaging Corporation of America during the third quarter worth about $44,000. Finally, CYBER HORNET ETFs LLC purchased a new stake in shares of Packaging Corporation of America in the second quarter valued at about $44,000. Institutional investors and hedge funds own 89.78% of the company’s stock.

Packaging Corporation of America Trading Up 3.1%

Shares of Packaging Corporation of America stock opened at $225.50 on Friday. Packaging Corporation of America has a fifty-two week low of $172.71 and a fifty-two week high of $241.96. The business’s fifty day moving average is $206.77 and its two-hundred day moving average is $206.39. 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 firm has a market cap of $20.29 billion, a PE ratio of 22.80, a P/E/G ratio of 1.67 and a beta of 0.88.

Packaging Corporation of America (NYSE:PKG) last announced its quarterly earnings data on Wednesday, October 22nd. The industrial products company reported $2.73 EPS 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 analysts’ expectations of $2.29 billion. During the same period in the prior year, the firm earned $2.65 EPS. Packaging Corporation of America’s revenue for the quarter was up 6.0% on a year-over-year basis. Analysts anticipate 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 declared a quarterly dividend, which was paid on Wednesday, January 14th. Shareholders of record on Monday, December 15th were issued a $1.25 dividend. The ex-dividend date was Monday, December 15th. This represents a $5.00 annualized dividend and a yield of 2.2%. Packaging Corporation of America’s payout ratio is 50.56%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on PKG. Weiss Ratings reissued a “buy (b-)” rating on shares of Packaging Corporation of America in a research note on Monday, December 29th. Truist Financial increased their target price on Packaging Corporation of America from $263.00 to $273.00 and gave the company a “buy” rating in a report on Tuesday, January 6th. Wall Street Zen raised Packaging Corporation of America from a “sell” rating to a “hold” rating in a report on Saturday, January 3rd. Zacks Research upgraded Packaging Corporation of America from a “strong sell” rating to a “hold” rating in a research report on Tuesday, January 6th. Finally, JPMorgan Chase & Co. lifted their price objective on Packaging Corporation of America from $238.00 to $245.00 and gave the stock an “overweight” rating in a research report on Friday, December 5th. Four equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $236.17.

Packaging Corporation of America Profile

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.