Credit Suisse AG lifted its position in Packaging Corp Of America (NYSE:PKG) by 14.2% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 122,881 shares of the industrial products company’s stock after buying an additional 15,307 shares during the quarter. Credit Suisse AG’s holdings in Packaging Corp Of America were worth $13,478,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently modified their holdings of the company. Bessemer Group Inc. acquired a new stake in shares of Packaging Corp Of America in the third quarter worth $122,000. Itau Unibanco Holding S.A. acquired a new stake in shares of Packaging Corp Of America in the second quarter worth $125,000. Acadian Asset Management LLC acquired a new stake in shares of Packaging Corp Of America in the second quarter worth $155,000. Flagship Harbor Advisors LLC acquired a new stake in shares of Packaging Corp Of America in the second quarter worth $165,000. Finally, Qube Research & Technologies Ltd acquired a new stake in shares of Packaging Corp Of America in the second quarter worth $220,000. Institutional investors and hedge funds own 86.65% of the company’s stock.

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

Shares of PKG stock opened at $95.35 on Friday. Packaging Corp Of America has a 1 year low of $83.54 and a 1 year high of $131.13. The firm has a market cap of $9.07 billion, a P/E ratio of 15.84, a P/E/G 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 (NYSE:PKG) last announced its earnings results on Wednesday, October 24th. The industrial products company reported $2.23 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate 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 net margin of 11.54% and a return on equity of 29.96%. Analysts predict that Packaging Corp Of America will post 8.03 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 15th. Shareholders of record on Monday, December 17th will be issued a $0.79 dividend. This represents a $3.16 annualized dividend and a yield of 3.31%. The ex-dividend date is Friday, December 14th. Packaging Corp Of America’s dividend payout ratio (DPR) is presently 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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