DekaBank Deutsche Girozentrale Has $32.91 Million Holdings in Packaging Co. of America (NYSE:PKG)


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DekaBank Deutsche Girozentrale cut its holdings in Packaging Co. of America (NYSE:PKG) by 3.8% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 243,164 shares of the industrial products company’s stock after selling 9,623 shares during the quarter. DekaBank Deutsche Girozentrale owned approximately 0.26% of Packaging Co. of America worth $32,905,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. tru Independence LLC bought a new position in Packaging Co. of America in the fourth quarter valued at about $29,000. Amundi Pioneer Asset Management Inc. raised its position in Packaging Co. of America by 13.8% in the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 165,838 shares of the industrial products company’s stock valued at $22,872,000 after purchasing an additional 20,061 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Packaging Co. of America by 0.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 994,789 shares of the industrial products company’s stock valued at $137,189,000 after purchasing an additional 7,181 shares during the last quarter. Norges Bank bought a new position in Packaging Co. of America in the fourth quarter valued at about $147,713,000. Finally, UBS Asset Management Americas Inc. raised its position in Packaging Co. of America by 5.3% in the fourth quarter. UBS Asset Management Americas Inc. now owns 645,886 shares of the industrial products company’s stock valued at $89,074,000 after purchasing an additional 32,591 shares during the last quarter. 88.40% of the stock is currently owned by institutional investors and hedge funds.

Several equities analysts have commented on the company. Jefferies Financial Group initiated coverage on Packaging Co. of America in a research report on Tuesday, January 5th. They issued a “hold” rating and a $130.00 target price for the company. Morgan Stanley raised their price objective on Packaging Co. of America from $126.00 to $131.00 and gave the stock an “equal weight” rating in a research report on Monday, February 1st. Argus raised their price objective on Packaging Co. of America from $130.00 to $160.00 and gave the stock a “buy” rating in a research report on Friday, January 8th. UBS Group started coverage on Packaging Co. of America in a report on Tuesday, January 12th. They issued a “sell” rating and a $146.00 target price for the company. Finally, Zacks Investment Research downgraded Packaging Co. of America from a “buy” rating to a “hold” rating and set a $143.00 target price for the company. in a report on Tuesday, January 5th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the company’s stock. Packaging Co. of America currently has a consensus rating of “Hold” and an average price target of $133.50.

Shares of NYSE:PKG opened at $138.05 on Thursday. The stock has a market cap of $13.11 billion, a price-to-earnings ratio of 27.78, a PEG ratio of 4.14 and a beta of 1.07. The company has a quick ratio of 2.54, a current ratio of 3.54 and a debt-to-equity ratio of 0.78. Packaging Co. of America has a 12-month low of $83.14 and a 12-month high of $148.14. The business’s 50 day moving average is $134.72 and its 200 day moving average is $129.97.

Packaging Co. of America (NYSE:PKG) last announced its earnings results on Tuesday, January 26th. The industrial products company reported $1.33 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.42 by ($0.09). The company had revenue of $1.71 billion for the quarter, compared to analysts’ expectations of $1.73 billion. Packaging Co. of America had a net margin of 7.11% and a return on equity of 18.67%. The firm’s quarterly revenue was down .3% on a year-over-year basis. During the same period in the previous year, the firm earned $1.71 EPS. As a group, equities research analysts expect that Packaging Co. of America will post 5.84 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 15th. Investors of record on Monday, March 15th will be given a dividend of $1.00 per share. The ex-dividend date of this dividend is Friday, March 12th. This represents a $4.00 annualized dividend and a dividend yield of 2.90%. Packaging Co. of America’s payout ratio is 52.29%.

Packaging Co. of America Company Profile

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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Institutional Ownership by Quarter for Packaging Co. of America (NYSE:PKG)

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