DekaBank Deutsche Girozentrale Cuts Stock Position in Packaging Corporation of America $PKG

DekaBank Deutsche Girozentrale decreased its position in shares of Packaging Corporation of America (NYSE:PKG) by 1.4% during the 2nd quarter, Holdings Channel.com reports. The fund owned 221,172 shares of the industrial products company’s stock after selling 3,101 shares during the period. DekaBank Deutsche Girozentrale’s holdings in Packaging Corporation of America were worth $41,646,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD increased its holdings in Packaging Corporation of America by 108.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,363,617 shares of the industrial products company’s stock worth $468,045,000 after purchasing an additional 1,229,219 shares during the period. JPMorgan Chase & Co. grew its position in shares of Packaging Corporation of America by 46.5% during the first quarter. JPMorgan Chase & Co. now owns 3,038,859 shares of the industrial products company’s stock worth $601,755,000 after buying an additional 964,085 shares in the last quarter. Select Equity Group L.P. increased its stake in shares of Packaging Corporation of America by 114.5% during the first quarter. Select Equity Group L.P. now owns 689,253 shares of the industrial products company’s stock worth $136,486,000 after buying an additional 367,933 shares during the period. Nuveen LLC purchased a new stake in shares of Packaging Corporation of America during the first quarter worth approximately $66,091,000. Finally, Assenagon Asset Management S.A. raised its holdings in Packaging Corporation of America by 377.1% in the second quarter. Assenagon Asset Management S.A. now owns 262,203 shares of the industrial products company’s stock valued at $49,412,000 after acquiring an additional 207,244 shares in the last quarter. 89.78% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Packaging Corporation of America

In other news, CEO Mark W. Kowlzan sold 25,000 shares of the business’s stock in a transaction that occurred on Thursday, September 11th. The stock was sold at an average price of $215.97, for a total value of $5,399,250.00. Following the transaction, the chief executive officer owned 437,378 shares of the company’s stock, valued at approximately $94,460,526.66. The trade was a 5.41% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 1.50% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on PKG shares. Wells Fargo & Company increased their price objective on shares of Packaging Corporation of America from $200.00 to $222.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 7th. Zacks Research upgraded shares of Packaging Corporation of America from a “hold” rating to a “strong-buy” rating in a research note on Friday, September 26th. JPMorgan Chase & Co. started coverage on shares of Packaging Corporation of America in a research report on Wednesday, September 24th. They issued an “overweight” rating and a $242.00 price target for the company. Citigroup raised their price objective on Packaging Corporation of America from $214.00 to $218.00 and gave the stock a “neutral” rating in a report on Monday, October 6th. Finally, UBS Group cut their target price on Packaging Corporation of America from $226.00 to $225.00 and set a “neutral” rating on the stock in a research report on Thursday, October 16th. Two equities research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $229.33.

Packaging Corporation of America Price Performance

Shares of NYSE:PKG opened at $208.48 on Wednesday. Packaging Corporation of America has a one year low of $172.71 and a one year high of $250.82. The stock has a market capitalization of $18.76 billion, a price-to-earnings ratio of 20.81, a PEG ratio of 1.21 and a beta of 0.91. The company has a 50-day simple moving average of $211.04 and a 200-day simple moving average of $198.95. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.32 and a current ratio of 3.54.

Packaging Corporation of America (NYSE:PKG) last released its quarterly earnings results on Wednesday, July 23rd. The industrial products company reported $2.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.44 by $0.04. The firm had revenue of $2.17 billion for the quarter, compared to analyst estimates of $2.18 billion. Packaging Corporation of America had a return on equity of 20.08% and a net margin of 10.47%.The business’s revenue was up 4.7% on a year-over-year basis. During the same quarter last year, the company posted $2.20 earnings per share. On average, analysts predict that Packaging Corporation of America will post 10.44 EPS for the current year.

Packaging Corporation of America Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 15th. Shareholders of record on Monday, September 15th were paid a $1.25 dividend. This represents a $5.00 annualized dividend and a dividend yield of 2.4%. The ex-dividend date was Monday, September 15th. Packaging Corporation of America’s dividend payout ratio (DPR) is 49.90%.

Packaging Corporation 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.