BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Trims Position in Packaging Corp Of America (PKG)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lessened its stake in Packaging Corp Of America (NYSE:PKG) by 36.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 31,835 shares of the industrial products company’s stock after selling 18,522 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Packaging Corp Of America were worth $2,657,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PKG. BlackRock Inc. lifted its stake in Packaging Corp Of America by 2.7% during the fourth quarter. BlackRock Inc. now owns 9,597,824 shares of the industrial products company’s stock worth $801,034,000 after purchasing an additional 256,652 shares during the period. LSV Asset Management lifted its stake in Packaging Corp Of America by 65.7% during the fourth quarter. LSV Asset Management now owns 1,964,742 shares of the industrial products company’s stock worth $163,977,000 after purchasing an additional 778,926 shares during the period. Victory Capital Management Inc. lifted its stake in Packaging Corp Of America by 8.1% during the fourth quarter. Victory Capital Management Inc. now owns 1,855,052 shares of the industrial products company’s stock worth $154,823,000 after purchasing an additional 138,552 shares during the period. Bank of New York Mellon Corp lifted its stake in Packaging Corp Of America by 0.5% during the fourth quarter. Bank of New York Mellon Corp now owns 1,593,171 shares of the industrial products company’s stock worth $132,967,000 after purchasing an additional 7,571 shares during the period. Finally, Northern Trust Corp lifted its stake in Packaging Corp Of America by 0.5% during the fourth quarter. Northern Trust Corp now owns 1,122,744 shares of the industrial products company’s stock worth $93,703,000 after purchasing an additional 5,411 shares during the period. Institutional investors and hedge funds own 85.92% of the company’s stock.

A number of research analysts have commented on PKG shares. Zacks Investment Research upgraded shares of Packaging Corp Of America from a “hold” rating to a “buy” rating and set a $87.00 price target for the company in a research note on Monday, December 31st. Citigroup cut their price target on shares of Packaging Corp Of America from $98.00 to $88.00 and set a “neutral” rating for the company in a research note on Monday, January 7th. Wells Fargo & Co cut shares of Packaging Corp Of America from an “outperform” rating to a “market perform” rating and cut their price target for the stock from $110.00 to $93.00 in a research note on Wednesday, January 9th. Finally, ValuEngine upgraded shares of Packaging Corp Of America from a “sell” rating to a “hold” rating in a research note on Tuesday, March 5th. 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’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $101.00.

NYSE PKG opened at $96.18 on Friday. The company has a market cap of $9.09 billion, a PE ratio of 11.98, a PEG ratio of 1.41 and a beta of 1.80. The company has a debt-to-equity ratio of 0.94, a current ratio of 3.05 and a quick ratio of 1.90. Packaging Corp Of America has a 1-year low of $77.90 and a 1-year high of $124.70.

Packaging Corp Of America (NYSE:PKG) last posted its quarterly earnings data on Tuesday, January 29th. The industrial products company reported $2.17 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.15 by $0.02. The company had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.77 billion. Packaging Corp Of America had a net margin of 10.52% and a return on equity of 30.83%. Equities analysts predict that Packaging Corp Of America will post 8.45 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 15th. Stockholders of record on Friday, March 15th will be issued a dividend of $0.79 per share. This represents a $3.16 annualized dividend and a dividend yield of 3.29%. The ex-dividend date of this dividend is Thursday, March 14th. Packaging Corp Of America’s payout ratio is 39.35%.

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Packaging Corp Of America 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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