Packaging Corp Of America (NYSE:PKG) Holdings Trimmed by OppenheimerFunds Inc.

OppenheimerFunds Inc. trimmed its position in Packaging Corp Of America (NYSE:PKG) by 5.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 141,710 shares of the industrial products company’s stock after selling 7,700 shares during the quarter. OppenheimerFunds Inc.’s holdings in Packaging Corp Of America were worth $14,084,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. BlackRock Inc. boosted its holdings in Packaging Corp Of America by 7.2% in the 1st quarter. BlackRock Inc. now owns 10,289,922 shares of the industrial products company’s stock valued at $1,022,613,000 after purchasing an additional 692,098 shares during the last quarter. Wells Fargo & Company MN boosted its holdings in Packaging Corp Of America by 1.2% in the 1st quarter. Wells Fargo & Company MN now owns 2,495,547 shares of the industrial products company’s stock valued at $248,007,000 after purchasing an additional 28,510 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in Packaging Corp Of America by 17.3% in the 1st quarter. JPMorgan Chase & Co. now owns 2,155,074 shares of the industrial products company’s stock valued at $214,171,000 after purchasing an additional 317,708 shares during the last quarter. LSV Asset Management boosted its holdings in Packaging Corp Of America by 2.8% in the 1st quarter. LSV Asset Management now owns 2,020,442 shares of the industrial products company’s stock valued at $200,791,000 after purchasing an additional 55,700 shares during the last quarter. Finally, Maj Invest Holding A S boosted its holdings in Packaging Corp Of America by 28.3% in the 1st quarter. Maj Invest Holding A S now owns 1,677,197 shares of the industrial products company’s stock valued at $166,678,000 after purchasing an additional 369,946 shares during the last quarter. Institutional investors own 88.89% of the company’s stock.

Shares of PKG stock opened at $95.32 on Friday. The company has a current ratio of 3.05, a quick ratio of 1.93 and a debt-to-equity ratio of 0.95. Packaging Corp Of America has a one year low of $77.90 and a one year high of $119.53. The company has a market capitalization of $9.01 billion, a PE ratio of 11.27, a P/E/G ratio of 2.33 and a beta of 1.75.

Packaging Corp Of America (NYSE:PKG) last issued its quarterly earnings data on Wednesday, April 24th. The industrial products company reported $1.98 EPS for the quarter, topping the consensus estimate of $1.96 by $0.02. Packaging Corp Of America had a net margin of 11.12% and a return on equity of 30.86%. The firm had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.77 billion. During the same period in the prior year, the business posted $1.55 EPS. The business’s revenue for the quarter was up 2.5% compared to the same quarter last year. Equities analysts expect that Packaging Corp Of America will post 8.19 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 14th will be issued a $0.79 dividend. The ex-dividend date is Thursday, June 13th. This represents a $3.16 annualized dividend and a dividend yield of 3.32%. Packaging Corp Of America’s dividend payout ratio is currently 39.35%.

PKG has been the topic of several recent analyst reports. KeyCorp reiterated a “hold” rating on shares of Packaging Corp Of America in a report on Thursday, April 25th. Bank of America reiterated a “buy” rating and issued a $112.00 target price (up from $105.00) on shares of Packaging Corp Of America in a report on Friday, April 5th. ValuEngine upgraded shares of Packaging Corp Of America from a “sell” rating to a “hold” rating in a report on Wednesday, May 1st. Stephens lowered shares of Packaging Corp Of America from an “overweight” rating to an “equal weight” rating and set a $100.00 price objective on the stock. in a report on Friday, April 26th. Finally, Zacks Investment Research lowered shares of Packaging Corp Of America from a “hold” rating to a “sell” rating in a report on Wednesday, April 10th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $102.64.

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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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