Robeco Institutional Asset Management B.V. Acquires 93,611 Shares of Packaging Corp Of America (NYSE:PKG)

Robeco Institutional Asset Management B.V. lifted its holdings in Packaging Corp Of America (NYSE:PKG) by 695.3% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 107,075 shares of the industrial products company’s stock after acquiring an additional 93,611 shares during the period. Robeco Institutional Asset Management B.V. owned 0.11% of Packaging Corp Of America worth $10,686,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in PKG. Norges Bank bought a new position in shares of Packaging Corp Of America in the fourth quarter worth about $114,083,000. JPMorgan Chase & Co. boosted its stake in Packaging Corp Of America by 38.1% during the first quarter. JPMorgan Chase & Co. now owns 3,470,427 shares of the industrial products company’s stock valued at $301,337,000 after buying an additional 957,767 shares during the last quarter. Eaton Vance Management boosted its stake in Packaging Corp Of America by 68.2% during the first quarter. Eaton Vance Management now owns 784,575 shares of the industrial products company’s stock valued at $68,466,000 after buying an additional 318,258 shares during the last quarter. Janus Henderson Group PLC boosted its stake in Packaging Corp Of America by 309.8% during the fourth quarter. Janus Henderson Group PLC now owns 374,799 shares of the industrial products company’s stock valued at $41,973,000 after buying an additional 283,347 shares during the last quarter. Finally, Capital World Investors boosted its stake in Packaging Corp Of America by 5.0% during the first quarter. Capital World Investors now owns 4,777,156 shares of the industrial products company’s stock valued at $414,800,000 after buying an additional 228,015 shares during the last quarter. 89.12% of the stock is owned by hedge funds and other institutional investors.

Shares of NYSE PKG opened at $102.79 on Friday. The company has a debt-to-equity ratio of 0.85, a quick ratio of 2.42 and a current ratio of 3.51. The business’s 50 day moving average price is $100.98 and its 200-day moving average price is $96.49. Packaging Corp Of America has a fifty-two week low of $71.05 and a fifty-two week high of $114.78. The company has a market cap of $9.72 billion, a price-to-earnings ratio of 15.01, a PEG ratio of 3.92 and a beta of 1.26.

Packaging Corp Of America (NYSE:PKG) last issued its quarterly earnings results on Monday, April 27th. The industrial products company reported $1.50 earnings per share for the quarter, topping the consensus estimate of $1.22 by $0.28. Packaging Corp Of America had a return on equity of 22.37% and a net margin of 9.39%. The firm had revenue of $1.71 billion for the quarter, compared to the consensus estimate of $1.67 billion. During the same period in the prior year, the business posted $1.98 earnings per share. The company’s revenue for the quarter was down 1.4% on a year-over-year basis. Sell-side analysts predict that Packaging Corp Of America will post 5.32 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Monday, June 15th were issued a $0.79 dividend. The ex-dividend date of this dividend was Friday, June 12th. This represents a $3.16 annualized dividend and a dividend yield of 3.07%. Packaging Corp Of America’s payout ratio is 41.31%.

PKG has been the subject of a number of research reports. Wells Fargo & Co dropped their price target on Packaging Corp Of America from $95.00 to $85.00 and set an “equal weight” rating for the company in a research note on Thursday, April 9th. Morgan Stanley initiated coverage on Packaging Corp Of America in a research note on Monday, June 15th. They set an “equal weight” rating and a $93.00 price target for the company. BofA Securities raised Packaging Corp Of America from a “neutral” rating to a “buy” rating in a research note on Thursday, July 16th. Deutsche Bank dropped their price target on Packaging Corp Of America from $115.00 to $100.00 and set a “hold” rating for the company in a research note on Tuesday, May 26th. Finally, KeyCorp decreased their price objective on Packaging Corp Of America from $89.00 to $79.00 and set an “underweight” rating on the stock in a research report on Thursday, April 9th. They noted that the move was a valuation call. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have assigned a buy rating to the company’s stock. Packaging Corp Of America currently has an average rating of “Hold” and a consensus price target of $103.58.

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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