Packaging Co. of America (NYSE:PKG) Shares Acquired by Mitsubishi UFJ Asset Management Co. Ltd.

Mitsubishi UFJ Asset Management Co. Ltd. raised its position in shares of Packaging Co. of America (NYSE:PKG - Free Report) by 11.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 141,683 shares of the industrial products company's stock after acquiring an additional 14,253 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.16% of Packaging Co. of America worth $32,003,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. raised its stake in Packaging Co. of America by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 11,423,715 shares of the industrial products company's stock valued at $2,571,821,000 after purchasing an additional 133,575 shares in the last quarter. State Street Corp raised its position in shares of Packaging Co. of America by 3.2% during the 3rd quarter. State Street Corp now owns 3,948,546 shares of the industrial products company's stock valued at $855,212,000 after buying an additional 123,050 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings 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 acquiring an additional 132,836 shares during the last quarter. Geode Capital Management LLC grew its position in Packaging Co. of America by 0.6% in the third quarter. Geode Capital Management LLC now owns 2,337,296 shares of the industrial products company's stock worth $501,896,000 after acquiring an additional 12,936 shares in the last quarter. Finally, Boston Partners raised its holdings in Packaging Co. of America by 7.0% during the 4th quarter. Boston Partners now owns 1,565,351 shares of the industrial products company's stock valued at $352,305,000 after buying an additional 101,755 shares during the period. 89.78% of the stock is currently owned by institutional investors.

Remove Ads

Packaging Co. of America Stock Up 0.3 %

Shares of NYSE PKG traded up $0.53 during midday trading on Wednesday, reaching $200.46. 313,682 shares of the company's stock traded hands, compared to its average volume of 671,854. The company has a market cap of $18.00 billion, a price-to-earnings ratio of 22.45, a P/E/G ratio of 2.41 and a beta of 0.77. Packaging Co. of America has a one year low of $169.00 and a one year high of $250.82. The company has a quick ratio of 1.98, a current ratio of 2.95 and a debt-to-equity ratio of 0.58. The stock's 50 day simple moving average is $208.82 and its 200-day simple moving average is $222.13.

Packaging Co. of America (NYSE:PKG - Get Free Report) 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 analysts' consensus estimates of $2.51 by ($0.04). Packaging Co. of America had a net margin of 9.60% and a return on equity of 19.67%. On average, analysts predict that Packaging Co. of America will post 10.44 EPS for the current fiscal 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 given a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a dividend yield of 2.49%. The ex-dividend date of this dividend is Friday, March 14th. Packaging Co. of America's payout ratio is 55.99%.

Analyst Ratings Changes

PKG has been the subject of a number of recent analyst reports. Jefferies Financial Group raised shares of Packaging Co. of America from a "hold" rating to a "buy" rating and boosted their target price for the company from $215.00 to $280.00 in a research note on Wednesday, December 18th. Citigroup boosted their price objective on shares of 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. Wells Fargo & Company dropped their target price on shares of Packaging Co. of America from $253.00 to $236.00 and set an "overweight" rating on the stock in a research note on Thursday, January 30th. Seaport Res Ptn raised shares of Packaging Co. of America from a "hold" rating to a "strong-buy" rating in a research note on Thursday, February 13th. Finally, StockNews.com raised Packaging Co. of America from a "hold" rating to a "buy" rating in a research note on Saturday. Two analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $233.00.

About Packaging Co. of America

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.