Packaging Co. of America (NYSE:PKG) Shares Acquired by New York Life Investment Management LLC

New York Life Investment Management LLC boosted its position in Packaging Co. of America (NYSE:PKGFree Report) by 27.0% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 23,469 shares of the industrial products company’s stock after purchasing an additional 4,987 shares during the quarter. New York Life Investment Management LLC’s holdings in Packaging Co. of America were worth $3,604,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Boston Partners purchased a new stake in shares of Packaging Co. of America during the 3rd quarter worth about $123,821,000. Kestra Private Wealth Services LLC grew its holdings in shares of Packaging Co. of America by 9.3% during the 3rd quarter. Kestra Private Wealth Services LLC now owns 2,041 shares of the industrial products company’s stock worth $313,000 after purchasing an additional 174 shares during the period. MV Capital Management Inc. boosted its holdings in Packaging Co. of America by 2.1% in the 3rd quarter. MV Capital Management Inc. now owns 13,023 shares of the industrial products company’s stock worth $2,000,000 after acquiring an additional 268 shares during the period. Metis Global Partners LLC boosted its holdings in Packaging Co. of America by 6.7% in the 3rd quarter. Metis Global Partners LLC now owns 5,730 shares of the industrial products company’s stock worth $880,000 after acquiring an additional 359 shares during the period. Finally, Barclays PLC boosted its holdings in Packaging Co. of America by 21.8% in the 3rd quarter. Barclays PLC now owns 329,965 shares of the industrial products company’s stock worth $50,668,000 after acquiring an additional 59,039 shares during the period. Institutional investors and hedge funds own 90.53% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. Seaport Res Ptn cut Packaging Co. of America from a “buy” rating to a “neutral” rating in a report on Monday, January 29th. Jefferies Financial Group decreased their price target on Packaging Co. of America from $142.00 to $140.00 and set a “hold” rating for the company in a report on Wednesday, October 18th. Citigroup upped their price target on Packaging Co. of America from $150.00 to $158.00 and gave the stock a “neutral” rating in a report on Wednesday, October 25th. StockNews.com upgraded Packaging Co. of America from a “hold” rating to a “buy” rating in a report on Friday, January 26th. Finally, Wells Fargo & Company upped their price target on Packaging Co. of America from $147.00 to $173.00 and gave the stock an “equal weight” rating in a report on Thursday, November 30th. Five equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $154.67.

Read Our Latest Stock Analysis on PKG

Packaging Co. of America Stock Down 1.1 %

PKG stock opened at $161.37 on Monday. Packaging Co. of America has a twelve month low of $122.20 and a twelve month high of $176.96. The company has a current ratio of 2.17, a quick ratio of 1.40 and a debt-to-equity ratio of 0.54. The company has a market capitalization of $14.46 billion, a P/E ratio of 19.03, a PEG ratio of 3.95 and a beta of 0.76. The firm has a 50 day simple moving average of $165.12 and a 200-day simple moving average of $155.85.

Packaging Co. of America (NYSE:PKGGet Free Report) last released its quarterly earnings results on Thursday, January 25th. The industrial products company reported $2.13 earnings per share for the quarter, topping analysts’ consensus estimates of $1.83 by $0.30. Packaging Co. of America had a net margin of 9.81% and a return on equity of 20.47%. The business had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $1.90 billion. During the same quarter last year, the company earned $2.35 earnings per share. The business’s quarterly revenue was down 2.0% compared to the same quarter last year. On average, equities research analysts predict that Packaging Co. of America will post 8.16 earnings per share for the current fiscal year.

Packaging Co. of America Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, January 15th. Investors of record on Monday, December 18th were paid a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a yield of 3.10%. The ex-dividend date was Friday, December 15th. Packaging Co. of America’s dividend payout ratio (DPR) is presently 58.96%.

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 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

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

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