Meadow Creek Investment Management LLC Has $5.78 Million Holdings in Packaging Co. of America (PKG)

Meadow Creek Investment Management LLC decreased its stake in Packaging Co. of America (NYSE:PKG) by 7.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 47,982 shares of the industrial products company’s stock after selling 4,048 shares during the period. Meadow Creek Investment Management LLC owned 0.05% of Packaging Co. of America worth $5,784,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of PKG. Cornerstone Capital Management Holdings LLC. boosted its holdings in Packaging Co. of America by 9.6% in the fourth quarter. Cornerstone Capital Management Holdings LLC. now owns 17,739 shares of the industrial products company’s stock worth $2,138,000 after acquiring an additional 1,560 shares in the last quarter. GHP Investment Advisors Inc. boosted its holdings in Packaging Co. of America by 1.8% in the fourth quarter. GHP Investment Advisors Inc. now owns 38,936 shares of the industrial products company’s stock worth $4,694,000 after acquiring an additional 677 shares in the last quarter. Raymond James & Associates boosted its holdings in Packaging Co. of America by 1.3% in the fourth quarter. Raymond James & Associates now owns 79,370 shares of the industrial products company’s stock worth $9,568,000 after acquiring an additional 989 shares in the last quarter. Stone Ridge Asset Management LLC bought a new position in Packaging Co. of America in the fourth quarter worth approximately $224,000. Finally, Deutsche Bank AG boosted its holdings in Packaging Co. of America by 3.6% in the fourth quarter. Deutsche Bank AG now owns 235,020 shares of the industrial products company’s stock worth $28,328,000 after acquiring an additional 8,252 shares in the last quarter. 88.84% of the stock is owned by institutional investors.

How to Become a New Pot Stock Millionaire

A number of research firms have recently weighed in on PKG. Citigroup dropped their target price on Packaging Co. of America from $136.00 to $123.00 and set a “neutral” rating on the stock in a report on Thursday. DA Davidson upgraded Packaging Co. of America from a “neutral” rating to a “buy” rating in a report on Monday, February 12th. BMO Capital Markets reiterated a “buy” rating and set a $130.00 price target on shares of Packaging Co. of America in a report on Thursday, January 25th. Bank of America raised their target price on Packaging Co. of America from $134.00 to $138.00 and gave the stock a “buy” rating in a research report on Thursday, February 1st. Finally, Zacks Investment Research cut Packaging Co. of America from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, March 27th. Seven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $128.92.

NYSE:PKG traded down $3.02 during mid-day trading on Friday, reaching $110.14. 594,348 shares of the company’s stock traded hands, compared to its average volume of 815,705. Packaging Co. of America has a 12-month low of $89.73 and a 12-month high of $131.13. The company has a market cap of $10,676.63, a PE ratio of 18.30, a P/E/G ratio of 1.78 and a beta of 1.82. The company has a debt-to-equity ratio of 1.15, a current ratio of 2.30 and a quick ratio of 1.38.

Packaging Co. of America (NYSE:PKG) last announced its quarterly earnings results on Tuesday, January 30th. The industrial products company reported $1.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.51 by $0.05. The company had revenue of $1.68 billion for the quarter, compared to the consensus estimate of $1.61 billion. Packaging Co. of America had a return on equity of 28.85% and a net margin of 10.37%. Packaging Co. of America’s revenue was up 14.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.23 EPS. analysts expect that Packaging Co. of America will post 7.62 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, April 13th. Investors of record on Thursday, March 15th will be paid a $0.63 dividend. The ex-dividend date of this dividend is Wednesday, March 14th. This represents a $2.52 annualized dividend and a dividend yield of 2.29%. Packaging Co. of America’s payout ratio is currently 41.86%.

COPYRIGHT VIOLATION NOTICE: This article was first reported by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are reading this article on another site, it was illegally stolen and reposted in violation of U.S. and international copyright legislation. The original version of this article can be viewed at https://www.dispatchtribunal.com/2018/04/07/packaging-corp-of-america-pkg-stake-lessened-by-meadow-creek-investment-management-llc.html.

Packaging Co. of America Profile

Packaging Corporation of America manufactures and sells containerboard and corrugated packaging products primarily in the United States. The company's Packaging segment offers various corrugated packaging products, such as conventional shipping containers used to protect and transport manufactured goods; multi-color boxes and displays that help to merchandise the packaged product in retail locations; and honeycomb protective packaging products.

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

Receive News & Ratings for Packaging Co. of America Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Packaging Co. of America and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply