Wellington Management Group LLP Grows Stake in Packaging Co. of America (NYSE:PKG)

Wellington Management Group LLP raised its stake in shares of Packaging Co. of America (NYSE:PKG - Free Report) by 134.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 28,260 shares of the industrial products company's stock after purchasing an additional 16,190 shares during the period. Wellington Management Group LLP's holdings in Packaging Co. of America were worth $6,362,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of PKG. Integrated Wealth Concepts LLC bought a new stake in Packaging Co. of America in the third quarter worth $312,000. MML Investors Services LLC lifted its holdings in shares of Packaging Co. of America by 16.8% in the 3rd quarter. MML Investors Services LLC now owns 17,086 shares of the industrial products company's stock worth $3,680,000 after acquiring an additional 2,461 shares during the last quarter. Nomura Asset Management Co. Ltd. boosted its stake in shares of Packaging Co. of America by 5.3% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 41,120 shares of the industrial products company's stock worth $8,857,000 after purchasing an additional 2,052 shares during the period. Geode Capital Management LLC grew its holdings in Packaging Co. of America by 0.6% during 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 purchasing an additional 12,936 shares during the last quarter. Finally, Toronto Dominion Bank raised its position in Packaging Co. of America by 1.4% in the 3rd quarter. Toronto Dominion Bank now owns 44,122 shares of the industrial products company's stock worth $9,504,000 after purchasing an additional 627 shares during the period. 89.78% of the stock is owned by institutional investors.

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Analyst Ratings Changes

Several research analysts have issued reports 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. Citigroup boosted their price objective on Packaging Co. of America from $232.00 to $235.00 and gave the company a "neutral" rating in a report on Monday, January 6th. Jefferies Financial Group upgraded Packaging Co. of America from a "hold" rating to a "buy" rating and increased their target price for the stock from $215.00 to $280.00 in a research note on Wednesday, December 18th. StockNews.com lowered shares of Packaging Co. of America from a "buy" rating to a "hold" rating in a research note on Sunday, April 6th. Finally, Wells Fargo & Company reduced their price target on shares of Packaging Co. of America from $236.00 to $209.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 8th. Two analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Packaging Co. of America presently has a consensus rating of "Moderate Buy" and an average price target of $237.80.

Packaging Co. of America Stock Down 1.0 %

NYSE:PKG traded down $1.97 during mid-day trading on Tuesday, reaching $188.68. The company's stock had a trading volume of 173,465 shares, compared to its average volume of 696,661. The company has a quick ratio of 1.98, a current ratio of 2.95 and a debt-to-equity ratio of 0.58. Packaging Co. of America has a 1 year low of $169.00 and a 1 year high of $250.82. The stock has a fifty day moving average of $200.38 and a 200-day moving average of $219.93. The firm has a market capitalization of $16.97 billion, a PE ratio of 21.13, a price-to-earnings-growth ratio of 2.41 and a beta of 0.84.

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 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 forecast that Packaging Co. of America will post 10.44 earnings per share for the current year.

Packaging Co. of America Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Friday, March 14th will be given a $1.25 dividend. This represents a $5.00 annualized dividend and a dividend yield of 2.65%. The ex-dividend date is Friday, March 14th. Packaging Co. of America's payout ratio is 55.99%.

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.