Oppenheimer & Co. Inc. Has $298,000 Holdings in Packaging Co. of America (PKG)

Oppenheimer & Co. Inc. reduced its stake in shares of Packaging Co. of America (NYSE:PKG) by 59.0% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 2,640 shares of the industrial products company’s stock after selling 3,794 shares during the period. Oppenheimer & Co. Inc.’s holdings in Packaging Co. of America were worth $298,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Victory Capital Management Inc. grew its position in shares of Packaging Co. of America by 7,416.1% during the 4th quarter. Victory Capital Management Inc. now owns 1,383,784 shares of the industrial products company’s stock valued at $166,815,000 after acquiring an additional 1,365,373 shares during the period. Millennium Management LLC grew its position in shares of Packaging Co. of America by 416.9% during the 4th quarter. Millennium Management LLC now owns 630,773 shares of the industrial products company’s stock valued at $76,040,000 after acquiring an additional 508,733 shares during the period. APG Asset Management N.V. grew its position in shares of Packaging Co. of America by 28.1% during the 4th quarter. APG Asset Management N.V. now owns 1,248,128 shares of the industrial products company’s stock valued at $125,301,000 after acquiring an additional 273,900 shares during the period. MD Sass Investors Services Inc. acquired a new stake in shares of Packaging Co. of America during the 4th quarter valued at about $27,191,000. Finally, Glenhill Advisors LLC acquired a new stake in shares of Packaging Co. of America during the 4th quarter valued at about $26,610,000. 88.42% of the stock is currently owned by institutional investors.

Shares of Packaging Co. of America stock opened at $120.33 on Friday. The stock has a market capitalization of $10.84 billion, a P/E ratio of 19.99, a P/E/G ratio of 1.74 and a beta of 1.81. Packaging Co. of America has a twelve month low of $115.32 and a twelve month high of $117.70. The company has a debt-to-equity ratio of 1.10, a quick ratio of 1.58 and a current ratio of 2.72.

Packaging Co. of America (NYSE:PKG) last issued its quarterly earnings results on Tuesday, April 24th. The industrial products company reported $1.55 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.53 by $0.02. The firm had revenue of $1.69 billion for the quarter, compared to analyst estimates of $1.64 billion. Packaging Co. of America had a net margin of 10.48% and a return on equity of 28.10%. Packaging Co. of America’s quarterly revenue was up 10.0% compared to the same quarter last year. During the same period last year, the company posted $1.27 EPS. sell-side analysts forecast that Packaging Co. of America will post 7.94 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, July 13th. Investors of record on Friday, June 15th will be paid a $0.79 dividend. The ex-dividend date of this dividend is Thursday, June 14th. This is a positive change from Packaging Co. of America’s previous quarterly dividend of $0.63. This represents a $3.16 dividend on an annualized basis and a yield of 2.63%. Packaging Co. of America’s dividend payout ratio (DPR) is currently 41.86%.

A number of equities research analysts have recently commented on PKG shares. Zacks Investment Research cut Packaging Co. of America from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, March 27th. Wells Fargo upgraded Packaging Co. of America from a “market perform” rating to an “outperform” rating in a research report on Wednesday, January 31st. Barclays raised their target price on Packaging Co. of America from $110.00 to $120.00 and gave the company an “equal weight” rating in a research report on Monday, February 12th. KeyCorp reaffirmed a “hold” rating on shares of Packaging Co. of America in a research note on Wednesday, April 25th. Finally, DA Davidson raised their price target on shares of Packaging Co. of America to $135.00 and gave the company a “positive” rating in a research note on Thursday, February 1st. Seven analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Packaging Co. of America currently has a consensus rating of “Buy” and an average target price of $128.92.

Packaging Co. of America 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.

Institutional Ownership by Quarter for Packaging Co. of America (NYSE:PKG)

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