Credit Suisse AG raised its stake in Packaging Co. of America (NYSE:PKG – Get Rating) by 0.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 152,941 shares of the industrial products company’s stock after purchasing an additional 1,220 shares during the quarter. Credit Suisse AG owned 0.17% of Packaging Co. of America worth $19,563,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently modified their holdings of PKG. Ieq Capital LLC acquired a new position in Packaging Co. of America during the fourth quarter worth $229,000. Cambridge Investment Research Advisors Inc. raised its holdings in Packaging Co. of America by 14.4% during the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 16,312 shares of the industrial products company’s stock worth $2,086,000 after purchasing an additional 2,057 shares during the last quarter. Prospera Financial Services Inc raised its holdings in Packaging Co. of America by 2.2% during the fourth quarter. Prospera Financial Services Inc now owns 8,274 shares of the industrial products company’s stock worth $1,058,000 after purchasing an additional 177 shares during the last quarter. D.A. Davidson & CO. acquired a new position in Packaging Co. of America during the fourth quarter worth $304,000. Finally, Atria Investments Inc raised its holdings in Packaging Co. of America by 3.1% during the fourth quarter. Atria Investments Inc now owns 10,236 shares of the industrial products company’s stock worth $1,309,000 after purchasing an additional 312 shares during the last quarter. 90.39% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
A number of equities analysts have recently weighed in on PKG shares. StockNews.com started coverage on Packaging Co. of America in a report on Thursday, May 18th. They issued a “hold” rating for the company. 22nd Century Group reiterated a “maintains” rating on shares of Packaging Co. of America in a research note on Wednesday, April 26th. Wells Fargo & Company dropped their target price on Packaging Co. of America from $135.00 to $126.00 in a research note on Wednesday, April 26th. VNET Group reiterated a “maintains” rating on shares of Packaging Co. of America in a research note on Wednesday, April 26th. Finally, Bank of America boosted their price target on Packaging Co. of America from $149.00 to $150.00 and gave the company a “neutral” rating in a research report on Thursday, April 20th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, Packaging Co. of America presently has a consensus rating of “Hold” and an average target price of $127.29.
Packaging Co. of America Price Performance
Packaging Co. of America (NYSE:PKG – Get Rating) last released its quarterly earnings results on Tuesday, April 25th. The industrial products company reported $2.20 EPS for the quarter, missing the consensus estimate of $2.27 by ($0.07). Packaging Co. of America had a return on equity of 25.59% and a net margin of 11.61%. The business had revenue of $1.98 billion during the quarter, compared to analyst estimates of $2.08 billion. During the same quarter last year, the firm posted $2.72 EPS. The company’s revenue was down 7.5% compared to the same quarter last year. On average, equities analysts anticipate that Packaging Co. of America will post 8.12 EPS for the current fiscal year.
Packaging Co. of America Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 14th. Shareholders of record on Thursday, June 15th will be paid a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a yield of 3.82%. The ex-dividend date is Wednesday, June 14th. Packaging Co. of America’s payout ratio is currently 47.98%.
Packaging Co. of America Profile
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.
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