Oakbrook Investments LLC Reduces Stake in Packaging Corp Of America (PKG)

Oakbrook Investments LLC lessened its position in Packaging Corp Of America (NYSE:PKG) by 1.9% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 10,542 shares of the industrial products company’s stock after selling 200 shares during the period. Oakbrook Investments LLC’s holdings in Packaging Corp Of America were worth $1,048,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Rowland & Co. Investment Counsel ADV raised its position in shares of Packaging Corp Of America by 3.4% during the fourth quarter. Rowland & Co. Investment Counsel ADV now owns 3,358 shares of the industrial products company’s stock worth $280,000 after purchasing an additional 110 shares during the period. First Hawaiian Bank raised its position in shares of Packaging Corp Of America by 5.2% during the fourth quarter. First Hawaiian Bank now owns 2,438 shares of the industrial products company’s stock worth $203,000 after purchasing an additional 120 shares during the period. CSat Investment Advisory L.P. raised its position in shares of Packaging Corp Of America by 73.8% during the fourth quarter. CSat Investment Advisory L.P. now owns 299 shares of the industrial products company’s stock worth $25,000 after purchasing an additional 127 shares during the period. Financial Architects Inc raised its position in shares of Packaging Corp Of America by 27.4% during the fourth quarter. Financial Architects Inc now owns 628 shares of the industrial products company’s stock worth $52,000 after purchasing an additional 135 shares during the period. Finally, Meiji Yasuda Life Insurance Co raised its position in shares of Packaging Corp Of America by 4.3% during the fourth quarter. Meiji Yasuda Life Insurance Co now owns 3,890 shares of the industrial products company’s stock worth $325,000 after purchasing an additional 160 shares during the period. 86.93% of the stock is currently owned by institutional investors.

Shares of PKG stock opened at $96.41 on Friday. Packaging Corp Of America has a 1-year low of $77.90 and a 1-year high of $124.70. The company has a current ratio of 3.05, a quick ratio of 1.90 and a debt-to-equity ratio of 0.94. The firm has a market cap of $9.11 billion, a PE ratio of 12.01, a price-to-earnings-growth ratio of 2.31 and a beta of 1.81.

Packaging Corp Of America (NYSE:PKG) last issued its quarterly earnings results on Tuesday, January 29th. The industrial products company reported $2.17 earnings per share for the quarter, beating analysts’ consensus estimates of $2.15 by $0.02. Packaging Corp Of America had a return on equity of 30.83% and a net margin of 10.52%. The business had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.77 billion. On average, equities research analysts anticipate that Packaging Corp Of America will post 8.35 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Friday, March 15th were issued a dividend of $0.79 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $3.16 dividend on an annualized basis and a dividend yield of 3.28%. Packaging Corp Of America’s dividend payout ratio is 39.35%.

A number of equities research analysts have recently issued reports on PKG shares. Zacks Investment Research raised Packaging Corp Of America from a “hold” rating to a “buy” rating and set a $87.00 target price on the stock in a research report on Monday, December 31st. Bank of America reaffirmed a “buy” rating and set a $112.00 target price (up from $105.00) on shares of Packaging Corp Of America in a research report on Friday, April 5th. ValuEngine raised Packaging Corp Of America from a “sell” rating to a “hold” rating in a research report on Tuesday, March 5th. Wells Fargo & Co lowered Packaging Corp Of America from an “outperform” rating to a “market perform” rating and cut their target price for the stock from $110.00 to $93.00 in a research report on Wednesday, January 9th. Finally, Citigroup cut their target price on Packaging Corp Of America from $98.00 to $88.00 and set a “neutral” rating on the stock in a research report on Monday, January 7th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company. Packaging Corp Of America currently has an average rating of “Hold” and a consensus price target of $102.22.

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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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