Packaging Corp Of America (PKG) Shares Sold by Exxonmobil Investment Management Inc. TX

Exxonmobil Investment Management Inc. TX cut its stake in shares of Packaging Corp Of America (NYSE:PKG) by 12.9% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 15,002 shares of the industrial products company’s stock after selling 2,228 shares during the period. Exxonmobil Investment Management Inc. TX’s holdings in Packaging Corp Of America were worth $1,808,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of PKG. Franklin Resources Inc. raised its position in Packaging Corp Of America by 26.2% during the second quarter. Franklin Resources Inc. now owns 4,860 shares of the industrial products company’s stock worth $541,000 after acquiring an additional 1,008 shares during the period. Alliancebernstein L.P. raised its position in Packaging Corp Of America by 14.3% during the second quarter. Alliancebernstein L.P. now owns 97,417 shares of the industrial products company’s stock worth $10,851,000 after acquiring an additional 12,222 shares during the period. Northwestern Mutual Wealth Management Co. raised its position in Packaging Corp Of America by 84.6% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,451 shares of the industrial products company’s stock worth $161,000 after acquiring an additional 665 shares during the period. Teachers Advisors LLC raised its position in Packaging Corp Of America by 0.5% during the second quarter. Teachers Advisors LLC now owns 236,121 shares of the industrial products company’s stock worth $26,302,000 after acquiring an additional 1,250 shares during the period. Finally, Ameriprise Financial Inc. raised its position in Packaging Corp Of America by 5.2% during the second quarter. Ameriprise Financial Inc. now owns 644,056 shares of the industrial products company’s stock worth $71,749,000 after acquiring an additional 31,753 shares during the period. Institutional investors own 90.09% of the company’s stock.

Shares of Packaging Corp Of America (NYSE PKG) opened at $125.88 on Wednesday. Packaging Corp Of America has a 1-year low of $85.36 and a 1-year high of $130.19. The stock has a market cap of $11,880.00, a price-to-earnings ratio of 23.31, a PEG ratio of 2.29 and a beta of 1.81. The company has a current ratio of 2.45, a quick ratio of 1.49 and a debt-to-equity ratio of 1.30.

Packaging Corp Of America (NYSE:PKG) last released its earnings results on Wednesday, October 25th. The industrial products company reported $1.68 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.69 by ($0.01). Packaging Corp Of America had a return on equity of 29.38% and a net margin of 8.18%. The business had revenue of $1.64 billion for the quarter, compared to analysts’ expectations of $1.64 billion. During the same period in the previous year, the company earned $1.30 EPS. Packaging Corp Of America’s quarterly revenue was up 10.5% compared to the same quarter last year. equities research analysts forecast that Packaging Corp Of America will post 5.99 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, January 12th. Stockholders of record on Tuesday, December 26th were issued a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.00%. The ex-dividend date of this dividend was Friday, December 22nd. Packaging Corp Of America’s payout ratio is 46.67%.

In related news, SVP Thomas W.H. Walton sold 6,027 shares of the company’s stock in a transaction dated Thursday, November 2nd. The shares were sold at an average price of $116.15, for a total value of $700,036.05. Following the completion of the sale, the senior vice president now owns 32,690 shares of the company’s stock, valued at $3,796,943.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Charles J. Carter sold 6,150 shares of the company’s stock in a transaction dated Friday, October 27th. The shares were sold at an average price of $117.04, for a total transaction of $719,796.00. Following the completion of the sale, the senior vice president now directly owns 24,265 shares of the company’s stock, valued at approximately $2,839,975.60. The disclosure for this sale can be found here. Insiders have sold 67,177 shares of company stock valued at $1,427,532 in the last ninety days. Insiders own 1.20% of the company’s stock.

PKG has been the subject of a number of research analyst reports. Deutsche Bank restated a “hold” rating and set a $120.00 price objective (up from $94.00) on shares of Packaging Corp Of America in a research report on Monday, October 9th. Zacks Investment Research upgraded shares of Packaging Corp Of America from a “hold” rating to a “buy” rating and set a $132.00 price objective for the company in a research report on Thursday, October 12th. KeyCorp restated a “hold” rating on shares of Packaging Corp Of America in a research report on Thursday, October 12th. Stephens began coverage on shares of Packaging Corp Of America in a report on Tuesday, October 24th. They set an “overweight” rating and a $130.00 target price for the company. Finally, Barclays upped their target price on shares of Packaging Corp Of America from $108.00 to $110.00 and gave the stock an “equal weight” rating in a report on Monday, October 30th. Eight equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $118.92.

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Packaging Corp Of America Company Profile

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.

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

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