Linden Thomas Advisory Services LLC boosted its stake in shares of Packaging Co. of America (NYSE:PKG – Free Report) by 48.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,724 shares of the industrial products company’s stock after acquiring an additional 1,208 shares during the quarter. Linden Thomas Advisory Services LLC’s holdings in Packaging Co. of America were worth $517,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of PKG. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in Packaging Co. of America by 6.6% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 12,710 shares of the industrial products company’s stock valued at $1,984,000 after acquiring an additional 787 shares in the last quarter. Raymond James Trust N.A. increased its position in shares of Packaging Co. of America by 120.3% in the first quarter. Raymond James Trust N.A. now owns 3,792 shares of the industrial products company’s stock valued at $592,000 after buying an additional 2,071 shares in the last quarter. Cibc World Market Inc. purchased a new stake in shares of Packaging Co. of America in the first quarter valued at approximately $693,000. Sei Investments Co. increased its position in shares of Packaging Co. of America by 3.0% in the first quarter. Sei Investments Co. now owns 162,403 shares of the industrial products company’s stock valued at $25,356,000 after buying an additional 4,701 shares in the last quarter. Finally, Canada Pension Plan Investment Board increased its position in shares of Packaging Co. of America by 58.6% in the first quarter. Canada Pension Plan Investment Board now owns 24,748 shares of the industrial products company’s stock valued at $3,863,000 after buying an additional 9,145 shares in the last quarter. 90.84% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
A number of analysts have recently commented on PKG shares. UBS Group cut their price objective on Packaging Co. of America from $137.00 to $132.00 in a research report on Friday, June 30th. 22nd Century Group restated a “maintains” rating on shares of Packaging Co. of America in a research report on Wednesday, April 26th. VNET Group restated a “maintains” rating on shares of Packaging Co. of America in a research report on Wednesday, April 26th. Bank of America lowered their price target on Packaging Co. of America from $145.00 to $138.00 in a research note on Monday. Finally, Wells Fargo & Company lowered their price target on Packaging Co. of America from $135.00 to $126.00 in a research note on Wednesday, April 26th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $126.13.
Packaging Co. of America Stock Performance
Packaging Co. of America (NYSE:PKG – Get Free Report) last released its quarterly earnings data on Tuesday, April 25th. The industrial products company reported $2.20 earnings per share for the quarter, missing analysts’ consensus estimates of $2.27 by ($0.07). The company had revenue of $1.98 billion for the quarter, compared to analyst estimates of $2.08 billion. Packaging Co. of America had a return on equity of 25.59% and a net margin of 11.61%. The business’s quarterly revenue was down 7.5% on a year-over-year basis. During the same period last year, the firm posted $2.72 EPS. On average, research analysts anticipate that Packaging Co. of America will post 8.05 earnings per share for the current year.
Packaging Co. of America Announces Dividend
The business 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 dividend on an annualized basis and a yield of 3.79%. The ex-dividend date of this dividend is Wednesday, June 14th. Packaging Co. of America’s dividend payout ratio (DPR) is currently 47.98%.
About Packaging Co. of America
Packaging Corporation of America manufactures and sells containerboard and corrugated packaging products in the United States. The company operates through Packaging and Paper segments. The Packaging segment offers various containerboard and 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, as well as packaging for meat, fresh fruit and vegetables, processed food, beverages, and other industrial and consumer products.
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