The Suntrust Banks Inc. Has $673,000 Position in Packaging Corp. of America (PKG)

The Suntrust Banks Inc. Has $673,000 Position in Packaging Corp. of America (PKG)

Suntrust Banks Inc. boosted its stake in shares of Packaging Corp. of America (NYSE:PKG) by 35.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 8,297 shares of the company’s stock after buying an additional 2,170 shares during the period. Suntrust Banks Inc.’s holdings in Packaging Corp. of America were worth $673,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of PKG. Jaffetilchin Investment Partners LLC raised its stake in Packaging Corp. of America by 92.2% in the third quarter. Jaffetilchin Investment Partners LLC now owns 14,171 shares of the company’s stock valued at $1,152,000 after buying an additional 6,799 shares during the period. BB&T Securities LLC increased its position in Packaging Corp. of America by 7.7% in the third quarter. BB&T Securities LLC now owns 11,107 shares of the company’s stock worth $902,000 after buying an additional 794 shares in the last quarter. California State Teachers Retirement System increased its position in Packaging Corp. of America by 0.9% in the third quarter. California State Teachers Retirement System now owns 199,422 shares of the company’s stock worth $16,205,000 after buying an additional 1,700 shares in the last quarter. Schroder Investment Management Group increased its position in Packaging Corp. of America by 55.5% in the third quarter. Schroder Investment Management Group now owns 1,494,572 shares of the company’s stock worth $121,450,000 after buying an additional 533,366 shares in the last quarter. Finally, Foster Dykema Cabot & Co. Inc. MA bought a new position in Packaging Corp. of America during the third quarter worth $350,000. Hedge funds and other institutional investors own 86.92% of the company’s stock.

Packaging Corp. of America (NYSE:PKG) traded down 1.04% during mid-day trading on Thursday, hitting $85.76. 410,238 shares of the stock traded hands. Packaging Corp. of America has a 12 month low of $44.32 and a 12 month high of $89.28. The company has a market cap of $8.01 billion, a P/E ratio of 18.42 and a beta of 1.85. The company’s 50 day moving average is $86.52 and its 200 day moving average is $80.77.

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

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 13th. Stockholders of record on Friday, December 23rd were issued 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 dividend yield of 2.94%. Packaging Corp. of America’s payout ratio is 54.19%.

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

Packaging Corp. 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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