IFM Investors Pty Ltd purchased a new position in Packaging Corp Of America (NYSE:PKG) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 2,920 shares of the industrial products company’s stock, valued at approximately $335,000.
Several other hedge funds and other institutional investors also recently bought and sold shares of PKG. Janus Henderson Group PLC increased its holdings in Packaging Corp Of America by 6,234.6% in the second quarter. Janus Henderson Group PLC now owns 597,731 shares of the industrial products company’s stock worth $66,587,000 after buying an additional 588,295 shares during the last quarter. American Century Companies Inc. acquired a new position in Packaging Corp Of America during the second quarter valued at approximately $59,914,000. APG Asset Management N.V. grew its holdings in Packaging Corp Of America by 76.4% during the third quarter. APG Asset Management N.V. now owns 974,228 shares of the industrial products company’s stock valued at $111,724,000 after purchasing an additional 422,100 shares during the last quarter. FMR LLC grew its holdings in Packaging Corp Of America by 41.9% during the second quarter. FMR LLC now owns 1,381,644 shares of the industrial products company’s stock valued at $153,902,000 after purchasing an additional 407,702 shares during the last quarter. Finally, Principal Financial Group Inc. grew its holdings in Packaging Corp Of America by 34.7% during the second quarter. Principal Financial Group Inc. now owns 1,298,086 shares of the industrial products company’s stock valued at $144,594,000 after purchasing an additional 334,701 shares during the last quarter. 90.24% of the stock is owned by institutional investors and hedge funds.
Several brokerages have commented on PKG. BMO Capital Markets reiterated an “outperform” rating and set a $122.00 price target (up previously from $118.00) on shares of Packaging Corp Of America in a report on Tuesday, August 22nd. Vertical Research reiterated a “buy” rating and set a $124.00 price target (up previously from $118.00) on shares of Packaging Corp Of America in a report on Wednesday, August 23rd. Barclays increased their price target on Packaging Corp Of America from $108.00 to $110.00 and gave the company an “equal weight” rating in a report on Monday, October 30th. KeyCorp reiterated a “hold” rating on shares of Packaging Corp Of America in a report on Sunday, October 29th. Finally, Stephens began coverage on Packaging Corp Of America in a report on Tuesday, October 24th. They set an “overweight” rating and a $130.00 price target on the stock. Eight analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $117.36.
Shares of Packaging Corp Of America (NYSE PKG) traded up $0.38 during trading on Monday, hitting $115.27. 1,708,200 shares of the stock traded hands, compared to its average volume of 886,826. The firm has a market capitalization of $10,875.72, a P/E ratio of 20.22, a price-to-earnings-growth ratio of 2.31 and a beta of 1.81. The company has a debt-to-equity ratio of 1.30, a quick ratio of 1.49 and a current ratio of 2.45. Packaging Corp Of America has a twelve month low of $84.01 and a twelve month high of $120.75.
Packaging Corp Of America (NYSE:PKG) last announced its quarterly earnings data on Wednesday, October 25th. The industrial products company reported $1.68 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.69 by ($0.01). The company had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.64 billion. Packaging Corp Of America had a return on equity of 29.38% and a net margin of 8.18%. The company’s revenue was up 10.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.30 EPS. analysts anticipate that Packaging Corp Of America will post 5.99 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 12th. Stockholders of record on Tuesday, December 26th will be paid a $0.63 dividend. The ex-dividend date of this dividend is Friday, December 22nd. This represents a $2.52 annualized dividend and a dividend yield of 2.19%. Packaging Corp Of America’s payout ratio is 46.67%.
About Packaging Corp Of America
Packaging Corporation of America (PCA) is a producer of containerboard products and uncoated freesheet. The Company operates through three segments: Packaging, Paper, and Corporate and Other. The Packaging segment produces a range of corrugated packaging products. The Paper segment manufactures and sells a range of papers, including communication-based papers and pressure sensitive papers.
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