Russell Investments Group Ltd. Has $28.33 Million Stock Holdings in Packaging Corporation of America (NYSE:PKG)

Russell Investments Group Ltd. raised its stake in shares of Packaging Corporation of America (NYSE:PKG) by 0.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 143,065 shares of the industrial products company’s stock after purchasing an additional 772 shares during the quarter. Russell Investments Group Ltd. owned 0.16% of Packaging Corporation of America worth $28,329,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of the stock. Townsquare Capital LLC lifted its position in shares of Packaging Corporation of America by 15.3% during the 4th quarter. Townsquare Capital LLC now owns 3,217 shares of the industrial products company’s stock worth $724,000 after buying an additional 426 shares during the period. Mariner LLC lifted its position in shares of Packaging Corporation of America by 2.7% during the 4th quarter. Mariner LLC now owns 35,964 shares of the industrial products company’s stock worth $8,097,000 after buying an additional 957 shares during the period. Guggenheim Capital LLC lifted its position in shares of Packaging Corporation of America by 1.2% during the 4th quarter. Guggenheim Capital LLC now owns 15,554 shares of the industrial products company’s stock worth $3,502,000 after buying an additional 185 shares during the period. NewEdge Advisors LLC lifted its position in shares of Packaging Corporation of America by 26.3% during the 4th quarter. NewEdge Advisors LLC now owns 14,398 shares of the industrial products company’s stock worth $3,241,000 after buying an additional 2,997 shares during the period. Finally, Marshall Wace LLP bought a new position in shares of Packaging Corporation of America during the 4th quarter worth approximately $31,432,000. 89.78% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

PKG has been the subject of several analyst reports. Jefferies Financial Group downgraded Packaging Corporation of America from a “buy” rating to a “hold” rating and cut their target price for the stock from $245.00 to $205.00 in a research report on Monday, June 16th. Wells Fargo & Company raised their target price 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, July 10th. Truist Financial cut their target price on Packaging Corporation of America from $239.00 to $238.00 and set a “buy” rating for the company in a research report on Friday, July 25th. Citigroup raised their target price on Packaging Corporation of America from $197.00 to $214.00 and gave the stock a “neutral” rating in a research report on Friday, July 25th. Finally, UBS Group raised their target price on Packaging Corporation of America from $210.00 to $220.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 29th. Five investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Packaging Corporation of America presently has a consensus rating of “Hold” and an average target price of $215.40.

Packaging Corporation of America Trading Down 1.6%

PKG stock opened at $193.46 on Friday. The business has a fifty day moving average price of $196.95 and a 200 day moving average price of $196.58. Packaging Corporation of America has a fifty-two week low of $172.71 and a fifty-two week high of $250.82. The stock has a market capitalization of $17.41 billion, a price-to-earnings ratio of 19.31, a P/E/G ratio of 2.31 and a beta of 0.85. The company has a debt-to-equity ratio of 0.54, a current ratio of 3.54 and a quick ratio of 2.32.

Packaging Corporation of America (NYSE:PKG) last released its quarterly earnings results on Wednesday, July 23rd. The industrial products company reported $2.48 earnings per share for the quarter, beating analysts’ consensus estimates of $2.44 by $0.04. Packaging Corporation of America had a return on equity of 20.08% and a net margin of 10.47%. The firm had revenue of $2.17 billion during the quarter, compared to analysts’ expectations of $2.18 billion. During the same period last year, the firm posted $2.20 EPS. The business’s revenue was up 4.7% on a year-over-year basis. Analysts expect that Packaging Corporation of America will post 10.44 EPS for the current fiscal year.

Packaging Corporation of America 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.