AMP Capital Investors Ltd Has $7.40 Million Stake in Packaging Corp Of America (PKG)

AMP Capital Investors Ltd reduced its stake in Packaging Corp Of America (NYSE:PKG) by 7.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 66,206 shares of the industrial products company’s stock after selling 5,400 shares during the period. AMP Capital Investors Ltd owned approximately 0.07% of Packaging Corp Of America worth $7,402,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Aviva PLC raised its stake in shares of Packaging Corp Of America by 1.0% in the second quarter. Aviva PLC now owns 46,910 shares of the industrial products company’s stock valued at $5,244,000 after acquiring an additional 460 shares in the last quarter. ING Groep NV raised its stake in Packaging Corp Of America by 4.8% in 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 in the last quarter. Bailard Inc. raised its stake in Packaging Corp Of America by 1.7% in 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 in the last quarter. Suntrust Banks Inc. raised its stake in Packaging Corp Of America by 14.9% in 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 in the last quarter. Finally, Colonial Trust Advisors raised its stake in Packaging Corp Of America by 3.5% in the first quarter. Colonial Trust Advisors now owns 14,621 shares of the industrial products company’s stock valued at $1,648,000 after buying an additional 494 shares in the last quarter. Institutional investors and hedge funds own 87.15% of the company’s stock.

A number of research firms have weighed in on PKG. ValuEngine upgraded Packaging Corp Of America from a “sell” rating to a “hold” rating in a research note on Wednesday, July 25th. Zacks Investment Research cut Packaging Corp Of America from a “buy” rating to a “hold” rating in a research note on Wednesday, June 27th. Citigroup cut their price target on Packaging Corp Of America from $128.00 to $121.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 10th. Stephens restated a “buy” rating on shares of Packaging Corp Of America in a research note on Thursday, July 5th. Finally, Wells Fargo & Co cut their price target on Packaging Corp Of America from $150.00 to $140.00 and set a “market perform” rating on the stock in a research note on Friday, July 27th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $130.22.

Shares of PKG stock opened at $113.76 on Friday. The stock has a market cap of $10.64 billion, a price-to-earnings ratio of 18.90, a PEG ratio of 1.71 and a beta of 1.78. Packaging Corp Of America has a 1 year low of $107.39 and a 1 year high of $131.13. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.67 and a current ratio of 2.73.

Packaging Corp Of America (NYSE:PKG) last issued its quarterly earnings data on Wednesday, July 25th. The industrial products company reported $2.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.97 by $0.11. The company had revenue of $1.77 billion for the quarter, compared to analyst estimates of $1.72 billion. Packaging Corp Of America had a return on equity of 28.48% and a net margin of 10.83%. The business’s quarterly revenue was up 11.6% compared to the same quarter last year. During the same quarter last year, the company posted $1.52 earnings per share. analysts predict that Packaging Corp Of America will post 7.9 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 15th. Shareholders of record on Friday, September 14th will be issued a dividend of $0.79 per share. This represents a $3.16 annualized dividend and a dividend yield of 2.78%. The ex-dividend date is Thursday, September 13th. Packaging Corp Of America’s payout ratio is 52.49%.

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.

Further Reading: Book Value Per Share – BVPS

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

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