AGF Management Ltd. Has $2.29 Million Position in Packaging Co. of America (NYSE:PKG)

AGF Management Ltd. lessened its position in Packaging Co. of America (NYSE:PKG) by 32.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,170 shares of the industrial products company’s stock after selling 4,958 shares during the period. AGF Management Ltd.’s holdings in Packaging Co. of America were worth $2,290,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. State Street Corp increased its holdings in Packaging Co. of America by 3.2% in the 3rd quarter. State Street Corp now owns 3,948,546 shares of the industrial products company’s stock worth $855,212,000 after purchasing an additional 123,050 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Packaging Co. of America by 4.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,069,949 shares of the industrial products company’s stock valued at $691,138,000 after buying an additional 132,836 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Packaging Co. of America by 0.6% in the 3rd quarter. Geode Capital Management LLC now owns 2,337,296 shares of the industrial products company’s stock valued at $501,896,000 after buying an additional 12,936 shares during the last quarter. FMR LLC grew its position in shares of Packaging Co. of America by 3.4% in the 3rd quarter. FMR LLC now owns 1,076,350 shares of the industrial products company’s stock valued at $231,846,000 after buying an additional 35,827 shares during the last quarter. Finally, Stifel Financial Corp grew its position in shares of Packaging Co. of America by 1,462.2% in the 3rd quarter. Stifel Financial Corp now owns 573,073 shares of the industrial products company’s stock valued at $123,440,000 after buying an additional 536,389 shares during the last quarter. Institutional investors and hedge funds own 89.78% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Seaport Res Ptn upgraded Packaging Co. of America from a “hold” rating to a “strong-buy” rating in a research report on Thursday, February 13th. Jefferies Financial Group upgraded Packaging Co. of America from a “hold” rating to a “buy” rating and upped their price target for the company from $215.00 to $280.00 in a research report on Wednesday, December 18th. Wells Fargo & Company reduced their price target on Packaging Co. of America from $253.00 to $236.00 and set an “overweight” rating on the stock in a research report on Thursday, January 30th. Citigroup upped their target price on Packaging Co. of America from $232.00 to $235.00 and gave the company a “neutral” rating in a research report on Monday, January 6th. Finally, StockNews.com upgraded Packaging Co. of America from a “hold” rating to a “buy” rating in a research report on Wednesday, February 26th. Two analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $233.00.

Packaging Co. of America Stock Up 2.4 %

Shares of Packaging Co. of America stock opened at $196.68 on Friday. Packaging Co. of America has a one year low of $169.00 and a one year high of $250.82. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.95 and a quick ratio of 1.98. The stock’s 50-day moving average is $217.04 and its 200 day moving average is $222.58. The firm has a market cap of $17.66 billion, a price-to-earnings ratio of 22.02, a PEG ratio of 2.41 and a beta of 0.77.

Packaging Co. of America (NYSE:PKG) last announced its quarterly earnings results on Tuesday, January 28th. The industrial products company reported $2.47 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.51 by ($0.04). Packaging Co. of America had a return on equity of 19.67% and a net margin of 9.60%. Equities research analysts anticipate that Packaging Co. of America will post 10.44 EPS for the current year.

Packaging Co. of America Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Friday, March 14th will be issued a $1.25 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $5.00 annualized dividend and a yield of 2.54%. Packaging Co. of America’s payout ratio is currently 55.99%.

Packaging Co. 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.