Packaging Corporation of America (NYSE:PKG) Stock Position Reduced by Allianz Asset Management GmbH

Allianz Asset Management GmbH trimmed its stake in shares of Packaging Corporation of America (NYSE:PKG - Free Report) by 13.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 250,750 shares of the industrial products company's stock after selling 40,050 shares during the quarter. Allianz Asset Management GmbH owned about 0.28% of Packaging Corporation of America worth $49,654,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. raised its position in shares of Packaging Corporation of America by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 11,423,715 shares of the industrial products company's stock worth $2,571,821,000 after buying an additional 133,575 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Packaging Corporation of America by 1.3% in the 4th quarter. Geode Capital Management LLC now owns 2,366,723 shares of the industrial products company's stock worth $531,540,000 after purchasing an additional 29,427 shares in the last quarter. Invesco Ltd. raised its holdings in shares of Packaging Corporation of America by 0.8% in the 4th quarter. Invesco Ltd. now owns 1,853,092 shares of the industrial products company's stock worth $417,187,000 after purchasing an additional 14,775 shares in the last quarter. Norges Bank bought a new stake in shares of Packaging Corporation of America in the 4th quarter worth approximately $258,928,000. Finally, Northern Trust Corp raised its holdings in shares of Packaging Corporation of America by 13.7% in the 4th quarter. Northern Trust Corp now owns 1,110,422 shares of the industrial products company's stock worth $249,989,000 after purchasing an additional 133,427 shares in the last quarter. 89.78% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently commented on the stock. Wells Fargo & Company boosted their target price on shares of Packaging Corporation of America from $180.00 to $200.00 and gave the stock an "equal weight" rating in a report on Thursday, July 10th. UBS Group boosted their target price on shares of Packaging Corporation of America from $200.00 to $210.00 and gave the stock a "neutral" rating in a report on Wednesday, July 9th. Jefferies Financial Group downgraded shares of Packaging Corporation of America from a "buy" rating to a "hold" rating and dropped their target price for the stock from $245.00 to $205.00 in a report on Monday, June 16th. Citigroup boosted their target price on shares of Packaging Corporation of America from $197.00 to $214.00 and gave the stock a "neutral" rating in a report on Friday. Finally, Wall Street Zen downgraded shares of Packaging Corporation of America from a "buy" rating to a "hold" rating in a report on Sunday, April 6th. Five analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $213.40.

Packaging Corporation of America Trading Up 0.2%

Shares of Packaging Corporation of America stock traded up $0.49 during trading on Friday, hitting $206.42. The stock had a trading volume of 629,946 shares, compared to its average volume of 697,820. The stock has a 50 day simple moving average of $195.91 and a 200 day simple moving average of $200.42. The company has a market capitalization of $18.57 billion, a PE ratio of 20.60, a P/E/G ratio of 2.73 and a beta of 0.82. The company has a quick ratio of 2.15, a current ratio of 3.28 and a debt-to-equity ratio of 0.55. Packaging Corporation of America has a 1 year low of $172.71 and a 1 year high of $250.82.

Packaging Corporation of America (NYSE:PKG - Get Free Report) last released its earnings results on Wednesday, July 23rd. The industrial products company reported $2.48 earnings per share for the quarter, topping the consensus estimate of $2.44 by $0.04. The business had revenue of $2.17 billion for the quarter, compared to the consensus estimate of $2.18 billion. Packaging Corporation of America had a net margin of 10.47% and a return on equity of 20.36%. The firm's quarterly revenue was up 4.7% compared to the same quarter last year. During the same period last year, the firm posted $2.20 earnings per share. On average, research analysts expect that Packaging Corporation of America will post 10.44 EPS for the current fiscal year.

Packaging Corporation of America Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Friday, June 13th were given a $1.25 dividend. This represents a $5.00 annualized dividend and a dividend yield of 2.42%. The ex-dividend date of this dividend was Friday, June 13th. Packaging Corporation of America's dividend payout ratio (DPR) is currently 49.90%.

Packaging Corporation of America Company Profile

Packaging Corporation of America engages in the production of container products. It operates through the following segments: Packaging, Paper, and Corporate and Other. The Packaging segment offers a variety of corrugated packaging products, such as conventional shipping containers. The Paper segment manufactures and sells a range of papers, including communication-based papers, and pressure sensitive papers.