Ontario Teachers Pension Plan Board Boosts Position in Packaging Co. of America (NYSE:PKG)

Ontario Teachers Pension Plan Board lifted its stake in shares of Packaging Co. of America (NYSE:PKGFree Report) by 44.5% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 22,140 shares of the industrial products company’s stock after acquiring an additional 6,816 shares during the period. Ontario Teachers Pension Plan Board’s holdings in Packaging Co. of America were worth $3,607,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of PKG. Charles Schwab Investment Management Inc. raised its holdings in Packaging Co. of America by 0.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,186,729 shares of the industrial products company’s stock valued at $335,772,000 after buying an additional 11,536 shares during the period. Ameriprise Financial Inc. raised its holdings in Packaging Co. of America by 4.6% in the 3rd quarter. Ameriprise Financial Inc. now owns 1,337,507 shares of the industrial products company’s stock valued at $205,389,000 after buying an additional 58,444 shares during the period. Northern Trust Corp raised its holdings in Packaging Co. of America by 12.8% in the 3rd quarter. Northern Trust Corp now owns 1,154,823 shares of the industrial products company’s stock valued at $177,323,000 after buying an additional 131,058 shares during the period. Norges Bank purchased a new stake in Packaging Co. of America during the fourth quarter worth about $163,314,000. Finally, Boston Partners increased its stake in Packaging Co. of America by 20.1% during the fourth quarter. Boston Partners now owns 968,816 shares of the industrial products company’s stock worth $157,836,000 after purchasing an additional 162,420 shares during the period. Hedge funds and other institutional investors own 89.78% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on PKG shares. Seaport Res Ptn lowered shares of Packaging Co. of America from a “buy” rating to a “neutral” rating in a research note on Monday, January 29th. StockNews.com upgraded shares of Packaging Co. of America from a “hold” rating to a “buy” rating in a research note on Tuesday. Citigroup cut their price target on shares of Packaging Co. of America from $183.00 to $181.00 and set a “neutral” rating on the stock in a research note on Thursday, April 25th. Wells Fargo & Company raised Packaging Co. of America from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $187.00 to $191.00 in a research report on Wednesday, April 24th. Finally, Bank of America raised Packaging Co. of America from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $172.00 to $202.00 in a research report on Monday, March 4th. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $173.57.

View Our Latest Report on Packaging Co. of America

Insider Buying and Selling at Packaging Co. of America

In related news, Director Karen E. Gowland acquired 300 shares of the firm’s stock in a transaction that occurred on Wednesday, May 15th. The shares were acquired at an average price of $182.06 per share, with a total value of $54,618.00. Following the completion of the purchase, the director now directly owns 916 shares in the company, valued at $166,766.96. The purchase was disclosed in a document filed with the SEC, which is available through this link. In other Packaging Co. of America news, Director Karen E. Gowland purchased 300 shares of the firm’s stock in a transaction on Wednesday, May 15th. The shares were purchased at an average cost of $182.06 per share, with a total value of $54,618.00. Following the purchase, the director now owns 916 shares in the company, valued at $166,766.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Robert P. Mundy sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $182.51, for a total value of $1,825,100.00. Following the completion of the sale, the chief financial officer now directly owns 46,454 shares in the company, valued at $8,478,319.54. The disclosure for this sale can be found here. 1.60% of the stock is owned by corporate insiders.

Packaging Co. of America Stock Performance

NYSE PKG traded down $1.11 on Thursday, reaching $180.19. The stock had a trading volume of 163,668 shares, compared to its average volume of 657,928. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.74 and a current ratio of 2.46. Packaging Co. of America has a 12-month low of $122.20 and a 12-month high of $191.27. The business’s 50-day moving average price is $181.86 and its 200 day moving average price is $171.80. The stock has a market cap of $16.18 billion, a P/E ratio of 22.66, a price-to-earnings-growth ratio of 7.77 and a beta of 0.80.

Packaging Co. of America (NYSE:PKGGet Free Report) last posted its earnings results on Tuesday, April 23rd. The industrial products company reported $1.72 earnings per share for the quarter, beating the consensus estimate of $1.63 by $0.09. The company had revenue of $1.98 billion for the quarter, compared to analyst estimates of $1.91 billion. Packaging Co. of America had a return on equity of 18.80% and a net margin of 9.25%. Packaging Co. of America’s revenue was up .2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.20 earnings per share. As a group, equities analysts expect that Packaging Co. of America will post 8.27 earnings per share for the current year.

Packaging Co. of America Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 14th will be issued a $1.25 dividend. This represents a $5.00 annualized dividend and a yield of 2.77%. The ex-dividend date of this dividend is Friday, June 14th. Packaging Co. of America’s dividend payout ratio (DPR) is 62.50%.

Packaging Co. of America Company Profile

(Free Report)

Packaging Corporation of America manufactures and sells containerboard and corrugated packaging products in the United States. The company operates through three segments: Packaging, Paper, and Corporate and Other. 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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Institutional Ownership by Quarter for Packaging Co. of America (NYSE:PKG)

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