The Strategy Asset Managers LLC Has $463,000 Stake in Packaging Corporation of America (PKG)

The Strategy Asset Managers LLC Has $463,000 Stake in Packaging Corporation of America (PKG)

Strategy Asset Managers LLC maintained its position in shares of Packaging Corporation of America (NYSE:PKG) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,700 shares of the company’s stock at the end of the third quarter. Strategy Asset Managers LLC’s holdings in Packaging Corporation of America were worth $463,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in PKG. MSI Financial Services Inc increased its position in shares of Packaging Corporation of America by 3.7% in the third quarter. MSI Financial Services Inc now owns 1,232 shares of the company’s stock valued at $100,000 after buying an additional 44 shares during the last quarter. Seven Eight Capital LLC purchased a new position in shares of Packaging Corporation of America during the second quarter valued at approximately $120,000. Van ECK Associates Corp increased its position in shares of Packaging Corporation of America by 13.6% in the second quarter. Van ECK Associates Corp now owns 2,528 shares of the company’s stock valued at $169,000 after buying an additional 302 shares during the last quarter. Quadrant Capital Group LLC increased its position in shares of Packaging Corporation of America by 1.8% in the second quarter. Quadrant Capital Group LLC now owns 2,944 shares of the company’s stock valued at $195,000 after buying an additional 53 shares during the last quarter. Finally, Virginia Retirement Systems ET AL purchased a new position in shares of Packaging Corporation of America during the second quarter valued at approximately $201,000. 86.92% of the stock is owned by hedge funds and other institutional investors.

Shares of Packaging Corporation of America (NYSE:PKG) traded up 1.16% during trading on Wednesday, hitting $86.66. 561,750 shares of the company traded hands. The company has a 50 day moving average price of $86.46 and a 200 day moving average price of $80.69. Packaging Corporation of America has a 52 week low of $44.32 and a 52 week high of $89.28. The company has a market capitalization of $8.09 billion, a price-to-earnings ratio of 18.62 and a beta of 1.85.

Packaging Corporation of America (NYSE:PKG) last posted its earnings results on Wednesday, October 19th. The company reported $1.30 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.31 by $0.01. The company had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $559.20 million. Packaging Corporation of America had a net margin of 7.77% and a return on equity of 27.24%. The business’s revenue was up .9% on a year-over-year basis. During the same period in the previous year, the business posted $1.26 earnings per share. On average, analysts expect that Packaging Corporation of America will post $4.82 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 13th. Shareholders of record on Friday, December 23rd were given a dividend of $0.63 per share. The ex-dividend date of this dividend was Wednesday, December 21st. This represents a $2.52 annualized dividend and a yield of 2.91%. Packaging Corporation of America’s dividend payout ratio (DPR) is currently 54.19%.

A number of analysts have recently issued reports on the stock. BMO Capital Markets reaffirmed a “buy” rating and set a $89.00 price objective on shares of Packaging Corporation of America in a report on Friday, October 21st. Jefferies Group reaffirmed a “buy” rating and set a $93.00 price objective (down from $96.00) on shares of Packaging Corporation of America in a report on Friday, October 21st. Bank of America Corporation raised shares of Packaging Corporation of America from a “neutral” rating to a “buy” rating and set a $92.00 price objective for the company in a report on Tuesday, October 18th. Deutsche Bank AG raised shares of Packaging Corporation of America from a “hold” rating to a “buy” rating and set a $90.00 price objective for the company in a report on Friday, September 23rd. Finally, Zacks Investment Research raised shares of Packaging Corporation of America from a “hold” rating to a “buy” rating and set a $96.00 price objective for the company in a report on Wednesday, December 21st. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $80.54.

Packaging Corporation of America Company Profile

Packaging Corporation of America (PCA) is a producer of containerboard and corrugated packaging products, and uncoated free sheet. The Company operates through three segments: Packaging, Paper, and Corporate and Other. The Company operates over eight mills and approximately 90 corrugated products manufacturing plants.

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