United Community Bank Has $1.82 Million Stock Holdings in Packaging Corporation of America (NYSE:PKG)

United Community Bank lessened its stake in Packaging Corporation of America (NYSE:PKG) by 7.7% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 9,164 shares of the industrial products company’s stock after selling 766 shares during the quarter. United Community Bank’s holdings in Packaging Corporation of America were worth $1,815,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the stock. MQS Management LLC grew its position in Packaging Corporation of America by 263.6% in the first quarter. MQS Management LLC now owns 3,592 shares of the industrial products company’s stock worth $711,000 after acquiring an additional 2,604 shares in the last quarter. CWM LLC increased its stake in shares of Packaging Corporation of America by 19.5% during the 1st quarter. CWM LLC now owns 11,764 shares of the industrial products company’s stock worth $2,329,000 after purchasing an additional 1,917 shares during the last quarter. Gateway Wealth Partners LLC lifted its position in shares of Packaging Corporation of America by 8.2% in the first quarter. Gateway Wealth Partners LLC now owns 1,650 shares of the industrial products company’s stock worth $327,000 after buying an additional 125 shares during the last quarter. SteelPeak Wealth LLC acquired a new stake in shares of Packaging Corporation of America in the first quarter worth about $2,172,000. Finally, Xponance Inc. lifted its position in shares of Packaging Corporation of America by 2.1% in the first quarter. Xponance Inc. now owns 12,459 shares of the industrial products company’s stock worth $2,467,000 after buying an additional 259 shares during the last quarter. Institutional investors and hedge funds own 89.78% of the company’s stock.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Wells Fargo & Company boosted their price target on Packaging Corporation of America from $180.00 to $200.00 and gave the stock an “equal weight” rating in a research report on Thursday. Truist Financial upped their price objective on shares of Packaging Corporation of America from $237.00 to $239.00 and gave the stock a “buy” rating in a report on Tuesday, June 17th. Wall Street Zen downgraded shares of Packaging Corporation of America from a “buy” rating to a “hold” rating in a report on Sunday, April 6th. UBS Group upped 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 report on Wednesday, July 9th. Finally, Jefferies Financial Group downgraded shares of Packaging Corporation of America from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $245.00 to $205.00 in a report on Monday, June 16th. Five analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $217.80.

Packaging Corporation of America Price Performance

Shares of Packaging Corporation of America stock opened at $205.90 on Monday. The company has a debt-to-equity ratio of 0.55, a current ratio of 3.28 and a quick ratio of 2.15. Packaging Corporation of America has a fifty-two week low of $172.72 and a fifty-two week high of $250.82. The firm has a fifty day moving average price of $192.48 and a two-hundred day moving average price of $201.82. The company has a market cap of $18.53 billion, a PE ratio of 21.54, a price-to-earnings-growth ratio of 2.72 and a beta of 0.82.

Packaging Corporation of America (NYSE:PKG) last issued its quarterly earnings results on Tuesday, April 22nd. The industrial products company reported $2.31 earnings per share for the quarter, beating analysts’ consensus estimates of $2.21 by $0.10. The firm had revenue of $2.14 billion during the quarter, compared to the consensus estimate of $2.12 billion. Packaging Corporation of America had a net margin of 10.09% and a return on equity of 20.08%. Analysts expect that Packaging Corporation of America will post 10.44 EPS 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. Stockholders of record on Friday, June 13th will be issued a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.43%. The ex-dividend date is Friday, June 13th. Packaging Corporation of America’s payout ratio is 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.