Packaging Corp Of America (PKG) Stake Decreased by Retirement Systems of Alabama

Retirement Systems of Alabama decreased its holdings in Packaging Corp Of America (NYSE:PKG) by 1.5% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 43,580 shares of the industrial products company’s stock after selling 668 shares during the period. Retirement Systems of Alabama’s holdings in Packaging Corp Of America were worth $4,780,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Aviva PLC boosted its stake in Packaging Corp Of America by 1.0% during the second quarter. Aviva PLC now owns 46,910 shares of the industrial products company’s stock valued at $5,244,000 after buying an additional 460 shares during the last quarter. ING Groep NV boosted its stake in Packaging Corp Of America by 4.8% during the second quarter. ING Groep NV now owns 10,102 shares of the industrial products company’s stock valued at $1,129,000 after buying an additional 461 shares during the last quarter. Bailard Inc. boosted its stake in Packaging Corp Of America by 1.7% during the second quarter. Bailard Inc. now owns 28,506 shares of the industrial products company’s stock valued at $3,187,000 after buying an additional 472 shares during the last quarter. Suntrust Banks Inc. boosted its stake in Packaging Corp Of America by 14.9% during the first quarter. Suntrust Banks Inc. now owns 3,772 shares of the industrial products company’s stock valued at $424,000 after buying an additional 490 shares during the last quarter. Finally, Carnick & Kubik Group LLC lifted its stake in shares of Packaging Corp Of America by 4.8% in the 2nd quarter. Carnick & Kubik Group LLC now owns 10,878 shares of the industrial products company’s stock valued at $1,216,000 after purchasing an additional 494 shares during the last quarter. 86.73% of the stock is owned by hedge funds and other institutional investors.

NYSE:PKG opened at $96.57 on Wednesday. The company has a market capitalization of $8.97 billion, a PE ratio of 16.04, a P/E/G ratio of 1.42 and a beta of 1.82. Packaging Corp Of America has a 1 year low of $83.54 and a 1 year high of $131.13. The company has a debt-to-equity ratio of 1.05, a current ratio of 2.73 and a quick ratio of 1.67.

Packaging Corp Of America (NYSE:PKG) last posted its quarterly earnings data on Wednesday, October 24th. The industrial products company reported $2.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.15 by $0.08. The business had revenue of $1.81 billion during the quarter, compared to analyst estimates of $1.76 billion. Packaging Corp Of America had a return on equity of 30.77% and a net margin of 11.54%. Research analysts expect that Packaging Corp Of America will post 8.01 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Monday, October 15th. Stockholders of record on Friday, September 14th were issued a $0.79 dividend. The ex-dividend date was Thursday, September 13th. This represents a $3.16 annualized dividend and a dividend yield of 3.27%. Packaging Corp Of America’s payout ratio is 52.49%.

Several research firms have recently issued reports on PKG. Seaport Global Securities began coverage on Packaging Corp Of America in a research note on Tuesday, October 23rd. They issued a “buy” rating and a $112.00 price objective for the company. Citigroup raised their price objective on Packaging Corp Of America from $121.00 to $124.00 and gave the company a “neutral” rating in a research note on Monday, July 30th. Barclays lowered their price objective on Packaging Corp Of America from $125.00 to $120.00 and set an “equal weight” rating for the company in a research note on Monday, July 30th. ValuEngine raised Packaging Corp Of America from a “sell” rating to a “hold” rating in a research note on Wednesday, July 25th. Finally, BMO Capital Markets lowered Packaging Corp Of America from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from $130.00 to $108.00 in a research note on Tuesday, October 9th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $116.91.

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Packaging Corp Of America Company 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.

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Institutional Ownership by Quarter for Packaging Corp Of America (NYSE:PKG)

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