JLB & Associates Inc. reduced its stake in shares of Packaging Corp Of America (NYSE:PKG) by 3.4% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 92,288 shares of the industrial products company’s stock after selling 3,265 shares during the period. Packaging Corp Of America accounts for 1.9% of JLB & Associates Inc.’s investment portfolio, making the stock its 22nd biggest holding. JLB & Associates Inc. owned 0.10% of Packaging Corp Of America worth $10,064,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Nachman Norwood & Parrott Inc bought a new stake in shares of Packaging Corp Of America in the 3rd quarter valued at approximately $32,000. TRUE Private Wealth Advisors bought a new stake in Packaging Corp Of America in the second quarter worth approximately $40,000. Valeo Financial Advisors LLC increased its stake in shares of Packaging Corp Of America by 575.0% during the 2nd quarter. Valeo Financial Advisors LLC now owns 513 shares of the industrial products company’s stock worth $51,000 after purchasing an additional 437 shares during the last quarter. Demars Financial Group LLC bought a new position in shares of Packaging Corp Of America during the 2nd quarter valued at $57,000. Finally, CSat Investment Advisory L.P. raised its holdings in shares of Packaging Corp Of America by 15.9% during the 2nd quarter. CSat Investment Advisory L.P. now owns 822 shares of the industrial products company’s stock valued at $82,000 after purchasing an additional 113 shares in the last quarter. 89.53% of the stock is currently owned by institutional investors and hedge funds.
Several equities analysts have commented on PKG shares. Seaport Global Securities reissued a “neutral” rating on shares of Packaging Corp Of America in a research report on Monday, July 27th. Bank of America increased their price objective on Packaging Corp Of America from $115.00 to $118.00 and gave the company a “buy” rating in a report on Tuesday, September 15th. Wells Fargo & Company raised their price objective on Packaging Corp Of America from $100.00 to $102.00 and gave the company an “equal weight” rating in a research note on Wednesday, September 9th. BMO Capital Markets raised Packaging Corp Of America from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $102.00 to $134.00 in a research report on Monday, October 12th. Finally, BofA Securities raised shares of Packaging Corp Of America from a “neutral” rating to a “buy” rating in a research report on Thursday, July 16th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have issued a buy rating to the stock. Packaging Corp Of America presently has an average rating of “Hold” and a consensus price target of $108.08.
Packaging Corp Of America (NYSE:PKG) last released its quarterly earnings data on Tuesday, July 28th. The industrial products company reported $1.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.27 by $0.11. The business had revenue of $1.54 billion for the quarter, compared to analysts’ expectations of $1.62 billion. Packaging Corp Of America had a return on equity of 19.99% and a net margin of 7.65%. Packaging Corp Of America’s quarterly revenue was down 12.4% on a year-over-year basis. During the same period in the previous year, the business posted $2.04 earnings per share. As a group, analysts forecast that Packaging Corp Of America will post 5.29 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, October 15th. Shareholders of record on Tuesday, September 15th were issued a $0.79 dividend. This represents a $3.16 annualized dividend and a yield of 2.64%. The ex-dividend date of this dividend was Monday, September 14th. Packaging Corp Of America’s dividend payout ratio (DPR) is presently 41.31%.
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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