Nomura Holdings Inc. cut its holdings in Packaging Corp Of America (NYSE:PKG) by 4.3% during the 2nd quarter, HoldingsChannel reports. The fund owned 225,001 shares of the industrial products company’s stock after selling 10,019 shares during the period. Nomura Holdings Inc.’s holdings in Packaging Corp Of America were worth $25,153,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Schroder Investment Management Group lifted its position in Packaging Corp Of America by 461.6% in the 2nd quarter. Schroder Investment Management Group now owns 344,333 shares of the industrial products company’s stock valued at $38,593,000 after acquiring an additional 283,016 shares in the last quarter. Global X Management Co LLC lifted its position in Packaging Corp Of America by 39.6% in the 2nd quarter. Global X Management Co LLC now owns 2,500 shares of the industrial products company’s stock valued at $279,000 after acquiring an additional 709 shares in the last quarter. Bank of Nova Scotia lifted its position in Packaging Corp Of America by 625.0% in the 2nd quarter. Bank of Nova Scotia now owns 88,751 shares of the industrial products company’s stock valued at $9,921,000 after acquiring an additional 76,510 shares in the last quarter. Verition Fund Management LLC lifted its position in Packaging Corp Of America by 12.8% in the 2nd quarter. Verition Fund Management LLC now owns 26,865 shares of the industrial products company’s stock valued at $3,003,000 after acquiring an additional 3,040 shares in the last quarter. Finally, Morse Asset Management Inc lifted its position in Packaging Corp Of America by 30.2% in the 2nd quarter. Morse Asset Management Inc now owns 7,322 shares of the industrial products company’s stock valued at $819,000 after acquiring an additional 1,700 shares in the last quarter. 87.12% of the stock is currently owned by institutional investors and hedge funds.

Several equities analysts recently issued reports on the company. Citigroup upped their price objective on Packaging Corp Of America from $121.00 to $124.00 and gave the company a “neutral” rating in a research report on Monday, July 30th. Barclays lowered their price objective on Packaging Corp Of America from $125.00 to $120.00 and set an “equal weight” rating on the stock in a research report on Monday, July 30th. ValuEngine raised Packaging Corp Of America from a “sell” rating to a “hold” rating in a research report on Wednesday, July 25th. Zacks Investment Research cut Packaging Corp Of America from a “buy” rating to a “hold” rating in a research report on Wednesday, June 27th. Finally, Stephens reaffirmed a “buy” rating on shares of Packaging Corp Of America in a research report on Thursday, July 5th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $130.22.

Shares of PKG opened at $115.36 on Tuesday. The firm has a market cap of $10.82 billion, a price-to-earnings ratio of 19.16, a P/E/G ratio of 1.74 and a beta of 1.79. The company has a quick ratio of 1.67, a current ratio of 2.73 and a debt-to-equity ratio of 1.05. Packaging Corp Of America has a 1-year low of $107.39 and a 1-year high of $131.13.

Packaging Corp Of America (NYSE:PKG) last announced its earnings results on Wednesday, July 25th. The industrial products company reported $2.08 earnings per share for the quarter, beating analysts’ consensus estimates of $1.97 by $0.11. The business had revenue of $1.77 billion during the quarter, compared to analyst estimates of $1.72 billion. Packaging Corp Of America had a net margin of 10.83% and a return on equity of 28.48%. The company’s quarterly revenue was up 11.6% compared to the same quarter last year. During the same period in the previous year, the business earned $1.52 EPS. sell-side analysts expect that Packaging Corp Of America will post 7.9 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Monday, October 15th. Shareholders of record on Friday, September 14th will be paid a dividend of $0.79 per share. The ex-dividend date of this dividend is Thursday, September 13th. This represents a $3.16 dividend on an annualized basis and a yield of 2.74%. Packaging Corp Of America’s dividend payout ratio is presently 52.49%.

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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