Packaging Corp Of America (PKG) Position Reduced by Hsbc Holdings PLC

Hsbc Holdings PLC lowered its position in Packaging Corp Of America (NYSE:PKG) by 39.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 49,084 shares of the industrial products company’s stock after selling 31,846 shares during the period. Hsbc Holdings PLC owned about 0.05% of Packaging Corp Of America worth $4,097,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Bach Investment Advisors Ltd acquired a new stake in shares of Packaging Corp Of America during the 4th quarter valued at approximately $646,000. Macquarie Group Ltd. lifted its position in shares of Packaging Corp Of America by 32.2% during the 3rd quarter. Macquarie Group Ltd. now owns 15,600 shares of the industrial products company’s stock valued at $1,712,000 after acquiring an additional 3,800 shares during the period. Vident Investment Advisory LLC acquired a new stake in shares of Packaging Corp Of America during the 3rd quarter valued at approximately $262,000. Perella Weinberg Partners Capital Management LP acquired a new stake in shares of Packaging Corp Of America during the 4th quarter valued at approximately $2,607,000. Finally, Bank of New York Mellon Corp lifted its position in shares of Packaging Corp Of America by 5.9% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,585,600 shares of the industrial products company’s stock valued at $173,925,000 after acquiring an additional 88,042 shares during the period. Hedge funds and other institutional investors own 85.92% of the company’s stock.

Shares of Packaging Corp Of America stock opened at $96.18 on Friday. 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. The company has a market cap of $9.09 billion, a P/E ratio of 11.98, a P/E/G ratio of 1.41 and a beta of 1.80.

Packaging Corp Of America (NYSE:PKG) last issued its quarterly earnings data on Tuesday, January 29th. The industrial products company reported $2.17 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 during the quarter, compared to the consensus estimate of $1.77 billion. On average, analysts forecast that Packaging Corp Of America will post 8.45 EPS for the current fiscal year.

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

Several research analysts recently issued reports on the company. Zacks Investment Research downgraded Packaging Corp Of America from a “hold” rating to a “sell” rating in a research report on Wednesday, January 23rd. ValuEngine upgraded Packaging Corp Of America from a “sell” rating to a “hold” rating in a research report on Tuesday, March 5th. Wells Fargo & Co downgraded Packaging Corp Of America from an “outperform” rating to a “market perform” rating and cut their price objective for the stock from $110.00 to $93.00 in a research report on Wednesday, January 9th. Finally, Citigroup cut their price objective on Packaging Corp Of America from $98.00 to $88.00 and set a “neutral” rating for the company in a research report on Monday, January 7th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $101.00.

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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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