Commonwealth Equity Services LLC Grows Stake in Packaging Co. of America (NYSE:PKG)

Commonwealth Equity Services LLC grew its position in shares of Packaging Co. of America (NYSE:PKG – Get Rating) by 37.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 52,778 shares of the industrial products company’s stock after purchasing an additional 14,450 shares during the period. Commonwealth Equity Services LLC owned approximately 0.06% of Packaging Co. of America worth $6,750,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in PKG. Invesco Ltd. grew its position in shares of Packaging Co. of America by 30.1% during the 1st quarter. Invesco Ltd. now owns 1,201,621 shares of the industrial products company’s stock valued at $187,586,000 after purchasing an additional 278,124 shares in the last quarter. Goldman Sachs Group Inc. grew its position in Packaging Co. of America by 79.0% in the first quarter. Goldman Sachs Group Inc. now owns 594,179 shares of the industrial products company’s stock worth $92,757,000 after acquiring an additional 262,314 shares in the last quarter. LSV Asset Management grew its position in Packaging Co. of America by 241.4% in the third quarter. LSV Asset Management now owns 293,300 shares of the industrial products company’s stock worth $32,935,000 after acquiring an additional 207,400 shares in the last quarter. Renaissance Technologies LLC grew its position in Packaging Co. of America by 122.4% in the first quarter. Renaissance Technologies LLC now owns 319,800 shares of the industrial products company’s stock worth $49,924,000 after acquiring an additional 176,000 shares in the last quarter. Finally, First Trust Advisors LP grew its position in Packaging Co. of America by 22.9% in the third quarter. First Trust Advisors LP now owns 870,946 shares of the industrial products company’s stock worth $97,798,000 after acquiring an additional 161,996 shares in the last quarter. 90.39% of the stock is currently owned by hedge funds and other institutional investors.

Packaging Co. of America Stock Down 2.0 %

NYSE PKG opened at $133.35 on Wednesday. The company has a debt-to-equity ratio of 0.66, a current ratio of 3.12 and a quick ratio of 1.91. The stock has a market capitalization of $11.99 billion, a PE ratio of 12.80, a PEG ratio of 3.30 and a beta of 0.87. Packaging Co. of America has a 1 year low of $110.56 and a 1 year high of $162.93. The business’s 50-day moving average is $136.82 and its 200 day moving average is $133.88.

Packaging Co. of America (NYSE:PKG – Get Rating) last posted its earnings results on Tuesday, April 25th. The industrial products company reported $2.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.27 by ($0.07). The business had revenue of $1.98 billion during the quarter, compared to the consensus estimate of $2.08 billion. Packaging Co. of America had a return on equity of 25.59% and a net margin of 11.61%. The firm’s revenue for the quarter was down 7.5% compared to the same quarter last year. During the same period in the previous year, the business earned $2.72 earnings per share. Sell-side analysts forecast that Packaging Co. of America will post 8.26 earnings per share for the current year.

Packaging Co. of America Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 14th. Investors of record on Thursday, June 15th will be paid a $1.25 dividend. The ex-dividend date of this dividend is Wednesday, June 14th. This represents a $5.00 annualized dividend and a dividend yield of 3.75%. Packaging Co. of America’s payout ratio is presently 47.98%.

Wall Street Analyst Weigh In

PKG has been the subject of several research reports. 22nd Century Group reiterated a “maintains” rating on shares of Packaging Co. of America in a research report on Wednesday, April 26th. Bank of America upped their target price on shares of Packaging Co. of America from $149.00 to $150.00 and gave the stock a “neutral” rating in a research report on Thursday, April 20th. Wells Fargo & Company cut their target price on shares of Packaging Co. of America from $135.00 to $126.00 in a research report on Wednesday, April 26th. StockNews.com started coverage on Packaging Co. of America in a research note on Thursday, March 16th. They set a “hold” rating on the stock. Finally, VNET Group reaffirmed a “maintains” rating on shares of Packaging Co. of America in a research note on Wednesday, April 26th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $127.29.

Packaging Co. of America Company Profile

(Get Rating)

Packaging Corporation of America engages in the production of container products. It operates through the following segments: Packaging, Paper, and Corporate and Other. The Packaging segment offers a variety of corrugated packaging products, such as conventional shipping containers. The Paper segment manufactures and sells a range of papers, including communication-based papers, and pressure sensitive papers.