LPL Financial LLC increased its position in shares of Packaging Corp Of America (NYSE:PKG) by 22.6% during the 4th quarter, HoldingsChannel.com reports. The fund owned 14,032 shares of the industrial products company’s stock after purchasing an additional 2,582 shares during the quarter. LPL Financial LLC’s holdings in Packaging Corp Of America were worth $1,171,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently modified their holdings of PKG. Truewealth LLC acquired a new position in shares of Packaging Corp Of America during the fourth quarter valued at $33,000. Capital Investment Advisory Services LLC acquired a new position in shares of Packaging Corp Of America during the fourth quarter valued at $41,000. Oppenheimer Asset Management Inc. acquired a new position in shares of Packaging Corp Of America during the fourth quarter valued at $47,000. Financial Architects Inc lifted its stake in shares of Packaging Corp Of America by 27.4% during the fourth quarter. Financial Architects Inc now owns 628 shares of the industrial products company’s stock valued at $52,000 after acquiring an additional 135 shares during the period. Finally, Penserra Capital Management LLC acquired a new position in shares of Packaging Corp Of America during the fourth quarter valued at $61,000. 85.92% of the stock is currently owned by institutional investors and hedge funds.
NYSE:PKG opened at $98.75 on Friday. Packaging Corp Of America has a 1-year low of $77.90 and a 1-year high of $124.70. The company has a current ratio of 3.05, a quick ratio of 1.90 and a debt-to-equity ratio of 0.94. The stock has a market capitalization of $9.55 billion, a price-to-earnings ratio of 12.30, a P/E/G ratio of 1.41 and a beta of 1.80.
Packaging Corp Of America (NYSE:PKG) last released its earnings results on Tuesday, January 29th. The industrial products company reported $2.17 earnings per share for the quarter, beating the consensus estimate of $2.15 by $0.02. Packaging Corp Of America had a return on equity of 30.83% and a net margin of 10.52%. The firm had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.77 billion. Research analysts anticipate that Packaging Corp Of America will post 8.45 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Friday, March 15th will be paid a $0.79 dividend. This represents a $3.16 annualized dividend and a yield of 3.20%. The ex-dividend date of this dividend is Thursday, March 14th. Packaging Corp Of America’s payout ratio is 39.35%.
PKG has been the topic of several research reports. Zacks Investment Research lowered Packaging Corp Of America from a “hold” rating to a “sell” rating in a research note on Wednesday, January 23rd. Wells Fargo & Co lowered Packaging Corp Of America from an “outperform” rating to a “market perform” rating and cut their target price for the company from $110.00 to $93.00 in a research note on Wednesday, January 9th. ValuEngine raised Packaging Corp Of America from a “sell” rating to a “hold” rating in a research note on Tuesday, March 5th. Finally, Citigroup cut their target price on Packaging Corp Of America from $98.00 to $88.00 and set a “neutral” rating on the stock in a research note on Monday, January 7th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company. Packaging Corp Of America presently has a consensus rating of “Hold” and an average price target of $101.00.
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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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