IFM Investors Pty Ltd Grows Position in Packaging Corp Of America (NYSE:PKG)

IFM Investors Pty Ltd increased its holdings in Packaging Corp Of America (NYSE:PKG) by 74.8% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 10,971 shares of the industrial products company’s stock after acquiring an additional 4,694 shares during the quarter. IFM Investors Pty Ltd’s holdings in Packaging Corp Of America were worth $1,164,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. Wright Investors Service Inc. lifted its stake in Packaging Corp Of America by 21.9% in the third quarter. Wright Investors Service Inc. now owns 4,586 shares of the industrial products company’s stock worth $487,000 after acquiring an additional 824 shares during the period. Russell Investments Group Ltd. lifted its stake in Packaging Corp Of America by 7.2% in the third quarter. Russell Investments Group Ltd. now owns 24,597 shares of the industrial products company’s stock worth $2,607,000 after acquiring an additional 1,662 shares during the period. BB&T Corp lifted its stake in Packaging Corp Of America by 1.4% in the third quarter. BB&T Corp now owns 49,823 shares of the industrial products company’s stock worth $5,286,000 after acquiring an additional 692 shares during the period. California Public Employees Retirement System raised its holdings in Packaging Corp Of America by 32.5% in the third quarter. California Public Employees Retirement System now owns 261,834 shares of the industrial products company’s stock worth $27,781,000 after purchasing an additional 64,220 shares in the last quarter. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund raised its holdings in Packaging Corp Of America by 56.0% in the third quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 31,312 shares of the industrial products company’s stock worth $3,322,000 after purchasing an additional 11,235 shares in the last quarter. 88.16% of the stock is owned by institutional investors.

Packaging Corp Of America stock traded up $0.95 during trading hours on Friday, reaching $113.90. The stock had a trading volume of 673,612 shares, compared to its average volume of 900,760. The company has a market cap of $10.72 billion, a price-to-earnings ratio of 14.18, a PEG ratio of 2.95 and a beta of 1.69. The company has a debt-to-equity ratio of 0.88, a current ratio of 3.28 and a quick ratio of 2.18. The business’s 50 day moving average price is $107.43 and its 200-day moving average price is $100.52. Packaging Corp Of America has a 52 week low of $77.90 and a 52 week high of $113.95.

Packaging Corp Of America (NYSE:PKG) last posted its quarterly earnings data on Wednesday, October 23rd. The industrial products company reported $1.92 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.90 by $0.02. Packaging Corp Of America had a net margin of 10.94% and a return on equity of 26.92%. The firm had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.79 billion. During the same quarter in the prior year, the company posted $2.23 earnings per share. The company’s revenue for the quarter was down 3.3% compared to the same quarter last year. On average, sell-side analysts forecast that Packaging Corp Of America will post 7.67 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Friday, September 13th were issued a dividend of $0.79 per share. The ex-dividend date of this dividend was Thursday, September 12th. This represents a $3.16 annualized dividend and a dividend yield of 2.77%. Packaging Corp Of America’s dividend payout ratio (DPR) is currently 39.35%.

A number of equities analysts have commented on PKG shares. Zacks Investment Research downgraded shares of Packaging Corp Of America from a “hold” rating to a “sell” rating and set a $116.00 target price for the company. in a report on Monday, October 14th. Wells Fargo & Co boosted their target price on shares of Packaging Corp Of America from $100.00 to $102.00 and gave the stock a “market perform” rating in a report on Friday, October 25th. Bank of America boosted their target price on shares of Packaging Corp Of America from $108.00 to $112.00 and gave the stock a “neutral” rating in a report on Thursday, October 24th. Citigroup boosted their target price on shares of Packaging Corp Of America from $101.00 to $108.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Finally, KeyCorp reiterated a “sell” rating and issued a $89.00 target price on shares of Packaging Corp Of America in a report on Thursday, October 24th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the company’s stock. Packaging Corp Of America has a consensus rating of “Hold” and an average target price of $105.45.

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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