Hsbc Holdings PLC grew its position in shares of Packaging Corp Of America (NYSE:PKG) by 13.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 80,930 shares of the industrial products company’s stock after buying an additional 9,713 shares during the period. Hsbc Holdings PLC owned 0.09% of Packaging Corp Of America worth $8,878,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Bessemer Group Inc. bought a new stake in shares of Packaging Corp Of America during the 3rd quarter valued at $122,000. Itau Unibanco Holding S.A. bought a new stake in shares of Packaging Corp Of America during the 2nd quarter valued at $125,000. Acadian Asset Management LLC bought a new stake in shares of Packaging Corp Of America during the 2nd quarter valued at $155,000. Flagship Harbor Advisors LLC bought a new stake in shares of Packaging Corp Of America during the 2nd quarter valued at $165,000. Finally, Qube Research & Technologies Ltd bought a new stake in shares of Packaging Corp Of America during the 2nd quarter valued at $220,000. 86.65% of the stock is currently owned by hedge funds and other institutional investors.

PKG has been the topic of a number of analyst reports. Zacks Investment Research lowered Packaging Corp Of America from a “hold” rating to a “sell” rating in a research note on Wednesday, September 26th. Seaport Global Securities initiated coverage on Packaging Corp Of America in a research note on Tuesday, October 23rd. They set a “buy” rating and a $112.00 price objective on the stock. KeyCorp reiterated a “hold” rating on shares of Packaging Corp Of America in a research note on Thursday, October 25th. ValuEngine lowered Packaging Corp Of America from a “hold” rating to a “sell” rating in a research note on Sunday, August 26th. Finally, BMO Capital Markets lowered Packaging Corp Of America from an “outperform” rating to a “market perform” rating and decreased their price objective for the company from $130.00 to $108.00 in a research note on Tuesday, October 9th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $116.91.

Shares of NYSE PKG opened at $95.97 on Thursday. The stock has a market capitalization of $9.07 billion, a price-to-earnings ratio of 15.94, a price-to-earnings-growth ratio of 1.43 and a beta of 1.85. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.74 and a current ratio of 2.76. Packaging Corp Of America has a twelve month low of $83.54 and a twelve month high of $131.13.

Packaging Corp Of America (NYSE:PKG) last announced its earnings results on Wednesday, October 24th. The industrial products company reported $2.23 earnings per share for the quarter, topping analysts’ consensus estimates of $2.15 by $0.08. The business had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.76 billion. Packaging Corp Of America had a return on equity of 29.96% and a net margin of 11.54%. Research analysts forecast that Packaging Corp Of America will post 8.03 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 15th. Shareholders of record on Monday, December 17th will be paid a $0.79 dividend. This represents a $3.16 dividend on an annualized basis and a yield of 3.29%. Packaging Corp Of America’s dividend payout ratio is currently 52.49%.

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About Packaging Corp Of America

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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