Commonwealth of Pennsylvania Public School Empls Retrmt SYS Lowers Stake in Packaging Corp Of America (PKG)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS cut its holdings in shares of Packaging Corp Of America (NYSE:PKG) by 14.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,384 shares of the industrial products company’s stock after selling 1,037 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Packaging Corp Of America were worth $634,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the company. BlackRock Inc. grew its position in Packaging Corp Of America by 2.7% in the 4th quarter. BlackRock Inc. now owns 9,597,824 shares of the industrial products company’s stock valued at $801,034,000 after buying an additional 256,652 shares during the last quarter. LSV Asset Management grew its position in Packaging Corp Of America by 65.7% in the 4th quarter. LSV Asset Management now owns 1,964,742 shares of the industrial products company’s stock valued at $163,977,000 after buying an additional 778,926 shares during the last quarter. Victory Capital Management Inc. grew its position in Packaging Corp Of America by 8.1% in the 4th quarter. Victory Capital Management Inc. now owns 1,855,052 shares of the industrial products company’s stock valued at $154,823,000 after buying an additional 138,552 shares during the last quarter. Maj Invest Holding A S grew its position 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 buying an additional 369,946 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its position in Packaging Corp Of America by 0.5% in the 4th quarter. Bank of New York Mellon Corp now owns 1,593,171 shares of the industrial products company’s stock valued at $132,967,000 after buying an additional 7,571 shares during the last quarter. Institutional investors and hedge funds own 87.90% of the company’s stock.

A number of equities analysts recently weighed in on the stock. Bank of America reiterated a “buy” rating and issued a $112.00 price objective (up from $105.00) on shares of Packaging Corp Of America in a research report on Friday, April 5th. ValuEngine lowered shares of Packaging Corp Of America from a “hold” rating to a “sell” rating in a research report on Wednesday, April 3rd. Zacks Investment Research lowered shares of Packaging Corp Of America from a “hold” rating to a “sell” rating in a research report on Wednesday, April 10th. 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 research report on Friday, April 26th. Finally, KeyCorp reiterated a “hold” rating on shares of Packaging Corp Of America in a research report on Thursday, April 25th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and three have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $102.64.

Shares of NYSE PKG opened at $91.01 on Friday. The firm has a market cap of $8.60 billion, a price-to-earnings ratio of 11.33, a P/E/G ratio of 2.32 and a beta of 1.77. Packaging Corp Of America has a one year low of $77.90 and a one year high of $124.70. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.93 and a current ratio of 3.05.

Packaging Corp Of America (NYSE:PKG) last issued its earnings results 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. The company had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.77 billion. Packaging Corp Of America had a net margin of 11.12% and a return on equity of 30.86%. The business’s revenue was up 2.5% on a year-over-year basis. During the same period in the previous year, the firm earned $1.55 EPS. Analysts forecast that Packaging Corp Of America will post 8.16 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 14th will be given a dividend of $0.79 per share. The ex-dividend date is Thursday, June 13th. This represents a $3.16 annualized dividend and a dividend yield of 3.47%. Packaging Corp Of America’s payout ratio is currently 39.35%.

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About Packaging Corp Of America

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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