Skandinaviska Enskilda Banken AB publ lessened its position in shares of Packaging Corp Of America (NYSE:PKG) by 7.0% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 30,517 shares of the industrial products company’s stock after selling 2,300 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in Packaging Corp Of America were worth $2,650,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in PKG. Procyon Private Wealth Partners LLC acquired a new stake in shares of Packaging Corp Of America in the fourth quarter valued at approximately $27,000. Bartlett & Co. LLC acquired a new position in Packaging Corp Of America in the 1st quarter valued at $35,000. CWM Advisors LLC bought a new stake in shares of Packaging Corp Of America during the 1st quarter valued at $38,000. Cornerstone Advisors Inc. grew its holdings in shares of Packaging Corp Of America by 75.2% during the 1st quarter. Cornerstone Advisors Inc. now owns 452 shares of the industrial products company’s stock worth $39,000 after purchasing an additional 194 shares in the last quarter. Finally, Ancora Advisors LLC bought a new position in shares of Packaging Corp Of America in the fourth quarter worth $45,000. 89.14% of the stock is owned by institutional investors and hedge funds.

Shares of Packaging Corp Of America stock opened at $98.02 on Tuesday. The business has a 50-day moving average price of $98.87 and a two-hundred day moving average price of $97.87. Packaging Corp Of America has a 1-year low of $71.05 and a 1-year high of $114.78. The company has a current ratio of 3.51, a quick ratio of 2.42 and a debt-to-equity ratio of 0.85. The company has a market cap of $9.07 billion, a P/E ratio of 14.31, a PEG ratio of 3.63 and a beta of 1.28.

Packaging Corp Of America (NYSE:PKG) last released its earnings results on Monday, April 27th. The industrial products company reported $1.50 EPS for the quarter, topping the consensus estimate of $1.22 by $0.28. Packaging Corp Of America had a return on equity of 22.37% and a net margin of 9.39%. The business had revenue of $1.71 billion during the quarter, compared to analysts’ expectations of $1.67 billion. During the same quarter last year, the firm posted $1.98 earnings per share. The firm’s revenue was down 1.4% on a year-over-year basis. Equities research analysts forecast that Packaging Corp Of America will post 5.27 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Monday, June 15th will be issued a $0.79 dividend. The ex-dividend date is Friday, June 12th. This represents a $3.16 dividend on an annualized basis and a dividend yield of 3.22%. Packaging Corp Of America’s dividend payout ratio is presently 41.31%.

PKG has been the topic of several recent analyst reports. TheStreet raised shares of Packaging Corp Of America from a “c+” rating to a “b-” rating in a report on Tuesday, June 2nd. Argus upgraded shares of Packaging Corp Of America from a “hold” rating to a “buy” rating and set a $100.00 price objective for the company in a research report on Thursday, May 14th. Bank of America upped their price objective on shares of Packaging Corp Of America from $95.00 to $100.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 29th. Morgan Stanley started coverage on Packaging Corp Of America in a research note on Monday, June 15th. They set an “equal weight” rating and a $93.00 price target on the stock. Finally, Wells Fargo & Co lowered their price objective on Packaging Corp Of America from $95.00 to $85.00 and set an “equal weight” rating for the company in a research note on Thursday, April 9th. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and two have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $101.85.

Packaging Corp Of America Company Profile

Packaging Corporation of America manufactures and sells containerboard and corrugated packaging products primarily in the United States. The company's Packaging segment offers various 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.

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Institutional Ownership by Quarter for Packaging Corp Of America (NYSE:PKG)

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