State Treasurer State of Michigan decreased its position in shares of Packaging Corp Of America (NYSE:PKG) by 3.1% in the fourth quarter, Holdings Channel reports. The fund owned 27,700 shares of the industrial products company’s stock after selling 900 shares during the period. State Treasurer State of Michigan’s holdings in Packaging Corp Of America were worth $3,339,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in the business. Wedge Capital Management L L P NC lifted its position in Packaging Corp Of America by 4.4% during the 4th quarter. Wedge Capital Management L L P NC now owns 960,735 shares of the industrial products company’s stock worth $115,817,000 after acquiring an additional 40,312 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Packaging Corp Of America by 37.4% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 22,810 shares of the industrial products company’s stock worth $2,750,000 after acquiring an additional 6,213 shares during the last quarter. Mutual of America Capital Management LLC lifted its position in Packaging Corp Of America by 4.8% during the 4th quarter. Mutual of America Capital Management LLC now owns 43,238 shares of the industrial products company’s stock worth $5,212,000 after acquiring an additional 1,978 shares during the last quarter. Conning Inc. acquired a new position in Packaging Corp Of America during the 4th quarter worth $211,000. Finally, PGGM Investments acquired a new position in Packaging Corp Of America during the 4th quarter worth $18,963,000. 89.76% of the stock is owned by hedge funds and other institutional investors.

A number of research analysts have weighed in on the stock. KeyCorp reissued a “hold” rating on shares of Packaging Corp Of America in a research report on Friday, February 2nd. Zacks Investment Research raised shares of Packaging Corp Of America from a “sell” rating to a “hold” rating in a research report on Tuesday, December 26th. DA Davidson boosted their target price on shares of Packaging Corp Of America to $135.00 and gave the stock a “positive” rating in a research report on Thursday, February 1st. BMO Capital Markets reissued a “buy” rating and set a $130.00 target price on shares of Packaging Corp Of America in a research report on Thursday, January 25th. Finally, Stephens set a $136.00 target price on shares of Packaging Corp Of America and gave the stock a “buy” rating in a research report on Wednesday, January 10th. Seven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Packaging Corp Of America has an average rating of “Buy” and a consensus target price of $127.17.

Packaging Corp Of America (PKG) opened at $111.95 on Friday. The company has a market cap of $11,051.27, a PE ratio of 19.42, a PEG ratio of 1.91 and a beta of 1.84. The company has a current ratio of 2.45, a quick ratio of 1.49 and a debt-to-equity ratio of 1.30. Packaging Corp Of America has a 52-week low of $88.47 and a 52-week high of $131.13.

Packaging Corp Of America (NYSE:PKG) last announced its quarterly earnings data on Tuesday, January 30th. The industrial products company reported $1.56 EPS for the quarter, beating the Zacks’ consensus estimate of $1.51 by $0.05. The business had revenue of $1.68 billion during the quarter, compared to analyst estimates of $1.61 billion. Packaging Corp Of America had a net margin of 10.37% and a return on equity of 30.48%. The firm’s revenue for the quarter was up 14.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.23 earnings per share. sell-side analysts forecast that Packaging Corp Of America will post 7.36 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 12th. Stockholders of record on Tuesday, December 26th were given a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.25%. The ex-dividend date was Friday, December 22nd. Packaging Corp Of America’s dividend payout ratio is currently 35.64%.

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Packaging Corp Of America Profile

Packaging Corporation of America (PCA) is a producer of containerboard products and uncoated freesheet. The Company operates through three segments: Packaging, Paper, and Corporate and Other. The Packaging segment produces a range of corrugated packaging products. The Paper segment manufactures and sells a range of papers, including communication-based papers and pressure sensitive papers.

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

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