Millennium Management LLC Buys 508,733 Shares of Packaging Co. of America (NYSE:PKG)

Millennium Management LLC raised its position in Packaging Co. of America (NYSE:PKG) by 416.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 630,773 shares of the industrial products company’s stock after purchasing an additional 508,733 shares during the quarter. Millennium Management LLC owned 0.67% of Packaging Co. of America worth $76,040,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PKG. Cornerstone Capital Management Holdings LLC. increased its position in shares of 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 valued at $2,138,000 after acquiring an additional 1,560 shares during the last quarter. GHP Investment Advisors Inc. increased its position in shares of 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 valued at $4,694,000 after acquiring an additional 677 shares during the last quarter. Raymond James & Associates increased its position in shares of 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 valued at $9,568,000 after acquiring an additional 989 shares during the last quarter. Stone Ridge Asset Management LLC acquired a new stake in shares of Packaging Co. of America in the fourth quarter valued at about $224,000. Finally, Deutsche Bank AG increased its position in shares of 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 valued at $28,328,000 after acquiring an additional 8,252 shares during the last quarter. 88.84% of the stock is currently owned by hedge funds and other institutional investors.

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A number of analysts recently issued reports on the company. DA Davidson raised Packaging Co. of America from a “neutral” rating to a “buy” rating in a research report on Monday, February 12th. Wells Fargo boosted their price target on Packaging Co. of America from $130.00 to $150.00 and gave the stock a “market perform” rating in a research report on Thursday, February 1st. Barclays boosted their price target on Packaging Co. of America from $110.00 to $120.00 and gave the stock an “equal weight” rating in a research report on Monday, February 12th. Bank of America boosted their price target 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 raised Packaging Co. of America from a “sell” rating to a “hold” rating in a research report on Tuesday, January 9th. Seven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $128.92.

Shares of NYSE:PKG traded down $3.02 during trading on Friday, reaching $110.14. 594,348 shares of the stock were exchanged, 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 stock has a market cap of $10,391.71, a PE ratio of 18.30, a P/E/G ratio of 1.73 and a beta of 1.82. The company has a quick ratio of 1.38, a current ratio of 2.30 and a debt-to-equity ratio of 1.15.

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

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 13th. Stockholders of record on Thursday, March 15th will be issued a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.29%. The ex-dividend date is Wednesday, March 14th. Packaging Co. of America’s dividend payout ratio is presently 41.86%.

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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)

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