Cambria Investment Management L.P.'s holdings in Packaging Corporation of America were worth $1,927,000 as of its most recent filing with the SEC. Vanguard Group Inc. boosted its stake in KapStone Paper and Packaging Corporation by 1.8% in the first quarter. TrimTabs Asset Management LLC raised its position in Packaging Corporation of America by 88.5% in the first quarter. L P now owns 2,375 shares of the industrial products company's stock worth $201,000 after buying an additional 2,097 shares in the last quarter. Creative Planning raised its position in Packaging Corporation of America by 44.9% in the first quarter. BlackRock Inc. now owns 13,344,341 shares of the industrial products company's stock valued at $1,222,607,000 after buying an additional 13,193,032 shares in the last quarter. Bronfman E.L. Rothschild L.P. raised its position in Packaging Corporation of America by 12.0% in the first quarter. State Street Corp now owns 2,045,971 shares of the basic materials company's stock worth $47,263,000 after buying an additional 18,772 shares in the last quarter. Finally, Cobblestone Capital Advisors LLC NY bought a new position in Packaging Corporation of America during the first quarter worth $202,000.
Shares of Packaging Corporation of America (NYSE:PKG) traded down 0.18% during mid-day trading on Friday, hitting $113.11. Following the completion of the purchase, the director now owns 45,127 shares of the company's stock, valued at approximately $902,540. Packaging Corporation of America has a 12 month low of $72.33 and a 12 month high of $114.31. The firm has a 50-day moving average price of $104.68 and a 200-day moving average price of $95.10. The company has a market capitalization of $2.16 billion, a P/E ratio of 29.08 and a beta of 2.83.
Packaging Corporation of America (NYSE:PKG) last announced its quarterly earnings data on Wednesday, April 26th. The industrial products company reported $1.27 EPS for the quarter, topping analysts' consensus estimates of $1.24 by $0.03. Packaging Corporation of America had a return on equity of 27.29% and a net margin of 7.81%. The business had revenue of $765.80 million during the quarter, compared to the consensus estimate of $770.10 million. In the last earnings report the EPS was $0.77 and is expected to be $1.32 for the current year with 96,792,000 shares now outstanding. The firm's revenue for the quarter was up 9.7% on a year-over-year basis. Analysts expect next quarter's EPS to be $0.47 with next year's EPS anticipated to be $1.75.
The company also recently disclosed a quarterly dividend, which was paid on Friday, July 14th. Stockholders of record on Thursday, June 15th were issued a dividend of $0.63 per share. This represents a $0.40 dividend on an annualized basis and a yield of 1.79%. The ex-dividend date of this dividend was Tuesday, June 13th. Packaging Corporation of America's payout ratio is presently 51.43%.
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PKG has been the topic of a number of other research reports. Goldman Sachs Group, Inc. (The) raised Packaging Corporation of America from a "sell" rating to a "neutral" rating and boosted their price objective for the stock from $105.00 to $111.00 in a research note on Thursday. On October 3 the company was set at "Buy" in a report from Bank of America which was a boost from the previous "Neutral" rating. BMO Capital Markets reissued a "buy" rating and set a $104.00 target price (up previously from $100.00) on shares of Packaging Corporation of America in a research note on Monday, May 1st.
KeyCorp initiated coverage on shares of Packaging Corporation of America (NYSE:PKG) in a research note issued to investors on Thursday morning, Marketbeat reports.
On September 23, 2016 the stock rating was set at "Outperform" in a report from Deutsche Bank which was a boost from the previous "Hold" rating. Packaging Corporation of America now has a consensus rating of "Hold" and an average price target of $100.33.
KapStone Paper and Packaging Corporation is a producer of containerboard and the kraft paper in North America. The Company operates through two segments: Paper and Packaging, and Distribution. The Packaging segment produces a range of corrugated packaging products. The Paper segment manufactures and sells a range of papers, including communication-based papers and pressure sensitive papers.
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