BNP Paribas Arbitrage SA Increases Holdings in Packaging Corporation of America (PKG)

BNP Paribas Arbitrage SA boosted its holdings in shares of Packaging Corporation of America (NYSE:PKG) by 17.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 182,408 shares of the company’s stock after acquiring an additional 27,120 shares during the period. BNP Paribas Arbitrage SA owned about 0.19% of Packaging Corporation of America worth $20,919,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in PKG. Janus Henderson Group PLC raised its position in Packaging Corporation of America by 6,234.6% during the second quarter. Janus Henderson Group PLC now owns 597,731 shares of the company’s stock worth $66,587,000 after acquiring an additional 588,295 shares during the last quarter. American Century Companies Inc. acquired a new position in Packaging Corporation of America during the second quarter worth about $59,914,000. APG Asset Management N.V. raised its position in Packaging Corporation of America by 76.4% during the third quarter. APG Asset Management N.V. now owns 974,228 shares of the company’s stock worth $111,724,000 after acquiring an additional 422,100 shares during the last quarter. FMR LLC raised its position in Packaging Corporation of America by 41.9% during the second quarter. FMR LLC now owns 1,381,644 shares of the company’s stock worth $153,902,000 after acquiring an additional 407,702 shares during the last quarter. Finally, Principal Financial Group Inc. raised its position in Packaging Corporation of America by 34.7% during the second quarter. Principal Financial Group Inc. now owns 1,298,086 shares of the company’s stock worth $144,594,000 after acquiring an additional 334,701 shares during the last quarter. Institutional investors own 88.34% of the company’s stock.

In other Packaging Corporation of America news, VP Thomas A. Hassfurther sold 6,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 12th. The shares were sold at an average price of C$117.94, for a total transaction of C$707,640.00. Following the completion of the sale, the vice president now directly owns 155,071 shares in the company, valued at C$18,289,073.74. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Jason Wayne Moreau acquired 1,326,000 shares of the firm’s stock in a transaction on Thursday, September 14th. The shares were acquired at an average price of C$0.06 per share, with a total value of C$79,560.00. Insiders have sold 18,177 shares of company stock valued at $2,127,472 in the last ninety days. 1.20% of the stock is currently owned by company insiders.

A number of equities analysts have recently weighed in on the stock. BMO Capital Markets reissued an “outperform” rating and issued a $122.00 price objective (up previously from $118.00) on shares of Packaging Corporation of America in a research report on Tuesday, August 22nd. Jefferies Group LLC reissued a “buy” rating and issued a $128.00 price objective on shares of Packaging Corporation of America in a research report on Friday, August 18th. BidaskClub raised shares of Packaging Corporation of America from a “hold” rating to a “buy” rating in a research report on Wednesday, August 2nd. Vertical Research reissued a “buy” rating and issued a $124.00 price objective (up previously from $118.00) on shares of Packaging Corporation of America in a research report on Wednesday, August 23rd. Finally, Barclays PLC boosted their price objective on shares of Packaging Corporation of America from $108.00 to $110.00 and gave the company an “equal weight” rating in a research report on Monday, October 30th. Eight equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of C$117.36.

Shares of Packaging Corporation of America (NYSE PKG) traded up C$1.04 during mid-day trading on Friday, reaching C$110.27. 913,648 shares of the company traded hands, compared to its average volume of 809,019. Packaging Corporation of America has a 1 year low of C$81.55 and a 1 year high of C$120.75. The company has a quick ratio of 1.49, a current ratio of 2.45 and a debt-to-equity ratio of 1.30. The firm has a market capitalization of $10,403.97, a price-to-earnings ratio of 19.35, a price-to-earnings-growth ratio of 2.21 and a beta of 1.82.

Packaging Corporation of America (NYSE:PKG) last issued its quarterly earnings results on Wednesday, October 25th. The company reported C$1.68 EPS for the quarter, missing the consensus estimate of C$1.69 by C($0.01). Packaging Corporation of America had a return on equity of 29.38% and a net margin of 8.18%. The company had revenue of C$1.64 billion for the quarter, compared to analyst estimates of C$1.64 billion. During the same period last year, the company posted $1.30 EPS. The business’s revenue for the quarter was up 10.5% on a year-over-year basis. sell-side analysts anticipate that Packaging Corporation of America will post 5.99 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, October 13th. Investors of record on Friday, September 15th were given a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 2.29%. The ex-dividend date was Thursday, September 14th. Packaging Corporation of America’s dividend payout ratio (DPR) is 46.67%.

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Packaging Corporation of America Company Profile

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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Institutional Ownership by Quarter for Packaging Corporation of America (NYSE:PKG)

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