DekaBank Deutsche Girozentrale Cuts Stock Position in Packaging Corporation of America $PKG

Key Points

• DekaBank Deutsche Girozentrale reduced its position in Packaging Corporation of America by 1.4%, owning approximately 0.25% of the company, valued at $41.65 million after the sale.
• Analysts have mixed opinions on the stock, with Zacks upgrading it to "strong-buy" while Citigroup and UBS adjusted their target prices slightly downward.
• Packaging Corporation of America declared a quarterly dividend of $1.25 per share, which reflects a dividend yield of 2.4%.

DekaBank Deutsche Girozentrale cut its position in Packaging Corporation of America (NYSE:PKG - Free Report) by 1.4% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 221,172 shares of the industrial products company's stock after selling 3,101 shares during the quarter. DekaBank Deutsche Girozentrale owned approximately 0.25% of Packaging Corporation of America worth $41,646,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the company. Jacobs Levy Equity Management Inc. acquired a new stake in Packaging Corporation of America during the 1st quarter worth about $2,127,000. Wealth Enhancement Advisory Services LLC raised its stake in shares of Packaging Corporation of America by 5.6% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 28,639 shares of the industrial products company's stock worth $5,671,000 after purchasing an additional 1,531 shares during the last quarter. Brookstone Capital Management lifted its holdings in shares of Packaging Corporation of America by 718.0% during the first quarter. Brookstone Capital Management now owns 10,086 shares of the industrial products company's stock worth $1,997,000 after purchasing an additional 8,853 shares during the period. Sumitomo Mitsui Trust Group Inc. boosted its position in Packaging Corporation of America by 11.3% in the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 250,197 shares of the industrial products company's stock valued at $49,544,000 after buying an additional 25,471 shares during the last quarter. Finally, Commerce Bank boosted its position in Packaging Corporation of America by 27.7% in the first quarter. Commerce Bank now owns 69,401 shares of the industrial products company's stock valued at $13,743,000 after buying an additional 15,041 shares during the last quarter. 89.78% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on PKG shares. Zacks Research raised shares of Packaging Corporation of America from a "hold" rating to a "strong-buy" rating in a research report on Friday, September 26th. Weiss Ratings restated a "buy (b-)" rating on shares of Packaging Corporation of America in a research report on Wednesday, October 8th. UBS Group cut their target price on shares of Packaging Corporation of America from $226.00 to $225.00 and set a "neutral" rating for the company in a report on Thursday, October 16th. JPMorgan Chase & Co. initiated coverage on shares of Packaging Corporation of America in a research note on Wednesday, September 24th. They issued an "overweight" rating and a $242.00 target price for the company. Finally, Citigroup raised their price target on shares of Packaging Corporation of America from $214.00 to $218.00 and gave the company a "neutral" rating in a research report on Monday, October 6th. Two equities research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $229.33.

Packaging Corporation of America Stock Performance

NYSE PKG opened at $208.48 on Wednesday. Packaging Corporation of America has a fifty-two week low of $172.71 and a fifty-two week high of $250.82. The firm has a market capitalization of $18.76 billion, a P/E ratio of 20.81, a price-to-earnings-growth ratio of 1.21 and a beta of 0.91. The stock's fifty day moving average is $211.04 and its two-hundred day moving average is $198.95. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.32 and a current ratio of 3.54.

Packaging Corporation of America (NYSE:PKG - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The industrial products company reported $2.48 EPS for the quarter, topping the consensus estimate of $2.44 by $0.04. Packaging Corporation of America had a return on equity of 20.08% and a net margin of 10.47%.The business had revenue of $2.17 billion for the quarter, compared to analyst estimates of $2.18 billion. During the same quarter in the previous year, the firm earned $2.20 EPS. The company's quarterly revenue was up 4.7% compared to the same quarter last year. On average, research analysts anticipate that Packaging Corporation of America will post 10.44 earnings per share for the current year.

Packaging Corporation of America Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Stockholders of record on Monday, September 15th were issued a dividend of $1.25 per share. The ex-dividend date was Monday, September 15th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.4%. Packaging Corporation of America's dividend payout ratio (DPR) is currently 49.90%.

Insider Buying and Selling at Packaging Corporation of America

In other news, CEO Mark W. Kowlzan sold 25,000 shares of the business's stock in a transaction that occurred on Thursday, September 11th. The shares were sold at an average price of $215.97, for a total value of $5,399,250.00. Following the sale, the chief executive officer directly owned 437,378 shares of the company's stock, valued at approximately $94,460,526.66. The trade was a 5.41% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.50% of the stock is currently owned by corporate insiders.

Packaging Corporation of America 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.

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