Packaging Co. of America (NYSE:PKG) Shares Purchased by Mackenzie Financial Corp

Mackenzie Financial Corp raised its position in Packaging Co. of America (NYSE:PKGGet Rating) by 284.2% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 7,284 shares of the industrial products company’s stock after purchasing an additional 5,388 shares during the period. Mackenzie Financial Corp’s holdings in Packaging Co. of America were worth $1,002,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Cibc World Market Inc. grew its stake in Packaging Co. of America by 165.4% during the 2nd quarter. Cibc World Market Inc. now owns 11,777 shares of the industrial products company’s stock valued at $1,619,000 after purchasing an additional 7,339 shares in the last quarter. Resources Management Corp CT ADV increased its stake in shares of Packaging Co. of America by 0.6% in the second quarter. Resources Management Corp CT ADV now owns 16,740 shares of the industrial products company’s stock worth $2,302,000 after buying an additional 100 shares during the last quarter. Cerity Partners LLC increased its stake in shares of Packaging Co. of America by 17.3% in the second quarter. Cerity Partners LLC now owns 1,824 shares of the industrial products company’s stock worth $250,000 after buying an additional 269 shares during the last quarter. Qtron Investments LLC bought a new position in Packaging Co. of America during the 2nd quarter valued at $236,000. Finally, WINTON GROUP Ltd grew its holdings in Packaging Co. of America by 134.9% during the 2nd quarter. WINTON GROUP Ltd now owns 14,209 shares of the industrial products company’s stock worth $1,954,000 after acquiring an additional 8,160 shares in the last quarter. 89.80% of the stock is currently owned by institutional investors and hedge funds.

Packaging Co. of America Price Performance

Shares of NYSE:PKG opened at $133.35 on Thursday. The firm’s 50 day moving average is $119.96 and its two-hundred day moving average is $135.69. The firm has a market capitalization of $12.34 billion, a P/E ratio of 12.14, a PEG ratio of 2.38 and a beta of 0.84. The company has a current ratio of 3.02, a quick ratio of 1.99 and a debt-to-equity ratio of 0.63. Packaging Co. of America has a 52 week low of $110.56 and a 52 week high of $168.50.

Packaging Co. of America (NYSE:PKGGet Rating) last issued its quarterly earnings results on Tuesday, October 25th. The industrial products company reported $2.83 EPS for the quarter, beating analysts’ consensus estimates of $2.81 by $0.02. The company had revenue of $2.10 billion for the quarter, compared to analyst estimates of $2.20 billion. Packaging Co. of America had a return on equity of 28.32% and a net margin of 12.09%. The company’s quarterly revenue was up 5.0% compared to the same quarter last year. During the same period last year, the company earned $2.69 earnings per share. Analysts anticipate that Packaging Co. of America will post 11.02 earnings per share for the current year.

Packaging Co. of America Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, October 17th. Stockholders of record on Monday, October 3rd were issued a $1.25 dividend. This represents a $5.00 annualized dividend and a dividend yield of 3.75%. The ex-dividend date was Friday, September 30th. Packaging Co. of America’s dividend payout ratio (DPR) is presently 45.54%.

Analyst Ratings Changes

PKG has been the topic of several research analyst reports. Citigroup reduced their price target on shares of Packaging Co. of America from $147.00 to $124.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 11th. StockNews.com downgraded Packaging Co. of America from a “buy” rating to a “hold” rating in a report on Saturday, October 29th. Wells Fargo & Company decreased their price objective on shares of Packaging Co. of America from $143.00 to $124.00 and set an “equal weight” rating for the company in a report on Thursday, October 6th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Packaging Co. of America from $104.00 to $99.00 in a report on Thursday, October 27th. Finally, Bank of America decreased their price target on shares of Packaging Co. of America from $155.00 to $134.00 in a report on Thursday, October 13th. Two analysts have rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, Packaging Co. of America currently has a consensus rating of “Hold” and an average price target of $133.89.

Packaging Co. of America Company Profile

(Get Rating)

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.

Further Reading

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

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