Packaging Corp Of America (PKG) Holdings Lifted by Sumitomo Mitsui Trust Holdings Inc.

Sumitomo Mitsui Trust Holdings Inc. grew its position in Packaging Corp Of America (NYSE:PKG) by 14.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 462,542 shares of the industrial products company’s stock after buying an additional 57,951 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc.’s holdings in Packaging Corp Of America were worth $45,967,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. CSat Investment Advisory L.P. boosted its holdings in shares of Packaging Corp Of America by 73.8% in the fourth quarter. CSat Investment Advisory L.P. now owns 299 shares of the industrial products company’s stock worth $25,000 after buying an additional 127 shares during the period. Capital Investment Advisory Services LLC acquired a new stake in shares of Packaging Corp Of America during the fourth quarter worth approximately $41,000. Aspire Private Capital LLC acquired a new stake in shares of Packaging Corp Of America during the fourth quarter worth approximately $41,000. Horan Capital Advisors LLC. acquired a new stake in shares of Packaging Corp Of America during the first quarter worth approximately $41,000. Finally, Oppenheimer Asset Management Inc. acquired a new stake in shares of Packaging Corp Of America during the fourth quarter worth approximately $47,000. Institutional investors own 88.89% of the company’s stock.

NYSE PKG opened at $91.01 on Monday. The company has a quick ratio of 1.93, a current ratio of 3.05 and a debt-to-equity ratio of 0.95. The company has a market capitalization of $8.60 billion, a price-to-earnings ratio of 11.33, a price-to-earnings-growth ratio of 2.23 and a beta of 1.77. Packaging Corp Of America has a 12-month low of $77.90 and a 12-month high of $124.70.

Packaging Corp Of America (NYSE:PKG) last posted its earnings results on Wednesday, April 24th. The industrial products company reported $1.98 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.96 by $0.02. The firm had revenue of $1.73 billion during the quarter, compared to analysts’ expectations of $1.77 billion. Packaging Corp Of America had a net margin of 11.12% and a return on equity of 30.86%. The company’s revenue was up 2.5% compared to the same quarter last year. During the same period in the previous year, the company earned $1.55 earnings per share. As a group, analysts anticipate that Packaging Corp Of America will post 8.16 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 14th will be paid a $0.79 dividend. This represents a $3.16 dividend on an annualized basis and a yield of 3.47%. The ex-dividend date of this dividend is Thursday, June 13th. Packaging Corp Of America’s dividend payout ratio (DPR) is presently 39.35%.

Several research firms recently commented on PKG. UBS Group began coverage on shares of Packaging Corp Of America in a report on Wednesday, May 15th. They set a “buy” rating and a $109.00 price target for the company. ValuEngine upgraded shares of Packaging Corp Of America from a “sell” rating to a “hold” rating in a report on Wednesday, May 1st. Stephens cut shares of Packaging Corp Of America from an “overweight” rating to an “equal weight” rating and set a $100.00 price target for the company. in a report on Friday, April 26th. KeyCorp restated a “hold” rating on shares of Packaging Corp Of America in a report on Thursday, April 25th. Finally, Bank of America cut shares of Packaging Corp Of America from a “buy” rating to a “neutral” rating in a report on Tuesday, April 16th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and three have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $102.64.

COPYRIGHT VIOLATION WARNING: This piece of content was reported by Baseball Daily News and is the property of of Baseball Daily News. If you are accessing this piece of content on another website, it was copied illegally and republished in violation of United States & international copyright legislation. The legal version of this piece of content can be read at https://www.baseballdailydigest.com/news/2019/05/27/packaging-corp-of-america-pkg-holdings-lifted-by-sumitomo-mitsui-trust-holdings-inc.html.

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.

Read More: LIBOR

Want to see what other hedge funds are holding PKG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Packaging Corp Of America (NYSE:PKG).

Institutional Ownership by Quarter for Packaging Corp Of America (NYSE:PKG)

Receive News & Ratings for Packaging Corp Of America Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Packaging Corp Of America and related companies with MarketBeat.com's FREE daily email newsletter.