Navellier & Associates Inc raised its position in Packaging Corp Of America (NYSE:PKG) by 215.9% during the first quarter, Holdings Channel reports. The firm owned 98,910 shares of the industrial products company’s stock after buying an additional 67,598 shares during the period. Packaging Corp Of America comprises about 1.3% of Navellier & Associates Inc’s portfolio, making the stock its 13th largest position. Navellier & Associates Inc owned approximately 0.11% of Packaging Corp Of America worth $9,062,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of the company. Quadrant Capital Group LLC increased its stake in Packaging Corp Of America by 1.5% in the first quarter. Quadrant Capital Group LLC now owns 2,974 shares of the industrial products company’s stock worth $270,000 after buying an additional 44 shares during the period. Silvercrest Asset Management Group LLC increased its stake in Packaging Corp Of America by 1.2% in the fourth quarter. Silvercrest Asset Management Group LLC now owns 4,049 shares of the industrial products company’s stock worth $343,000 after buying an additional 49 shares during the period. Advantus Capital Management Inc increased its stake in Packaging Corp Of America by 0.9% in the third quarter. Advantus Capital Management Inc now owns 11,497 shares of the industrial products company’s stock worth $934,000 after buying an additional 100 shares during the period. GSA Capital Partners LLP increased its stake in Packaging Corp Of America by 4.1% in the fourth quarter. GSA Capital Partners LLP now owns 2,797 shares of the industrial products company’s stock worth $237,000 after buying an additional 110 shares during the period. Finally, Sawtooth Solutions LLC increased its stake in Packaging Corp Of America by 4.6% in the third quarter. Sawtooth Solutions LLC now owns 3,298 shares of the industrial products company’s stock worth $268,000 after buying an additional 146 shares during the period. Hedge funds and other institutional investors own 85.38% of the company’s stock.

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

Packaging Corp Of America (NYSE:PKG) traded down 0.12% during midday trading on Friday, reaching $93.73. 514,462 shares of the company’s stock traded hands. Packaging Corp Of America has a 1-year low of $62.41 and a 1-year high of $96.87. The firm’s 50-day moving average is $91.84 and its 200-day moving average is $88.10. The company has a market capitalization of $8.76 billion, a price-to-earnings ratio of 19.73 and a beta of 1.84.

Packaging Corp Of America (NYSE:PKG) last issued its quarterly earnings results on Monday, January 30th. The industrial products company reported $1.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.15 by $0.08. Packaging Corp Of America had a net margin of 7.76% and a return on equity of 27.81%. The company earned $1.50 billion during the quarter, compared to the consensus estimate of $1.44 billion. During the same quarter in the previous year, the firm earned $1.08 earnings per share. The firm’s quarterly revenue was up 6.2% on a year-over-year basis. Analysts forecast that Packaging Corp Of America will post $5.66 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Friday, April 14th. Investors of record on Wednesday, March 15th were paid a $0.63 dividend. The ex-dividend date was Monday, March 13th. This represents a $2.52 dividend on an annualized basis and a yield of 2.69%. Packaging Corp Of America’s dividend payout ratio is currently 53.05%.

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A number of research firms recently commented on PKG. Citigroup Inc lifted their price target on shares of Packaging Corp Of America from $106.00 to $112.00 and gave the stock a “neutral” rating in a research note on Friday, April 14th. DA Davidson cut shares of Packaging Corp Of America from a “buy” rating to a “neutral” rating and set a $96.00 price target for the company. in a research note on Tuesday, January 31st. They noted that the move was a valuation call. Barclays PLC cut shares of Packaging Corp Of America from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $92.00 to $90.00 in a research note on Monday, February 6th. Zacks Investment Research cut shares of Packaging Corp Of America from a “buy” rating to a “hold” rating in a research note on Thursday, January 12th. Finally, Jefferies Group LLC lifted their price target on shares of Packaging Corp Of America from $97.00 to $104.00 and gave the stock a “buy” rating in a research note on Thursday, February 2nd. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $93.92.

About Packaging Corp Of America

Packaging Corporation of America (PCA) is a producer of containerboard products and uncoated freesheet. The Company operates through three segments: Packaging, Paper, and Corporate and Other. 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.

5 Day Chart for NYSE:PKG

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