Toronto Dominion Bank increased its stake in shares of Packaging Corp Of America (NYSE:PKG) by 17.6% during the first quarter, HoldingsChannel reports. The firm owned 61,414 shares of the industrial products company’s stock after buying an additional 9,193 shares during the period. Toronto Dominion Bank’s holdings in Packaging Corp Of America were worth $6,102,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of PKG. Cetera Advisors LLC bought a new position in shares of Packaging Corp Of America during the 1st quarter valued at about $492,000. Cobblestone Capital Advisors LLC NY bought a new position in Packaging Corp Of America during the 1st quarter worth approximately $219,000. OLD National Bancorp IN grew its position in Packaging Corp Of America by 15.7% during the 1st quarter. OLD National Bancorp IN now owns 26,174 shares of the industrial products company’s stock worth $2,601,000 after acquiring an additional 3,556 shares during the last quarter. Nissay Asset Management Corp Japan ADV grew its position in Packaging Corp Of America by 4.2% during the 1st quarter. Nissay Asset Management Corp Japan ADV now owns 7,937 shares of the industrial products company’s stock worth $789,000 after acquiring an additional 323 shares during the last quarter. Finally, Stephens Inc. AR bought a new position in Packaging Corp Of America during the 1st quarter worth approximately $700,000. 87.22% of the stock is currently owned by institutional investors and hedge funds.

PKG has been the topic of several recent research reports. KeyCorp restated a “hold” rating on shares of Packaging Corp Of America in a research report on Thursday, April 25th. ValuEngine upgraded Packaging Corp Of America from a “sell” rating to a “hold” rating in a research report on Tuesday, March 5th. Stephens lowered Packaging Corp Of America from an “overweight” rating to an “equal weight” rating and set a $100.00 price target on the stock. in a research report on Friday, April 26th. Bank of America lowered Packaging Corp Of America from a “buy” rating to a “neutral” rating in a research report on Tuesday, April 16th. Finally, UBS Group initiated coverage on Packaging Corp Of America in a research report on Wednesday, May 15th. They set a “buy” rating and a $109.00 price target on the stock. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and three have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $102.64.

NYSE PKG traded down $0.40 on Wednesday, hitting $94.18. The company’s stock had a trading volume of 8,051 shares, compared to its average volume of 870,189. Packaging Corp Of America has a 52-week low of $77.90 and a 52-week high of $124.70. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.93 and a current ratio of 3.05. The stock has a market cap of $9.15 billion, a P/E ratio of 11.76, a price-to-earnings-growth ratio of 2.37 and a beta of 1.77.

Packaging Corp Of America (NYSE:PKG) last released its quarterly earnings data on Wednesday, April 24th. The industrial products company reported $1.98 earnings per share for the quarter, topping the consensus estimate of $1.96 by $0.02. Packaging Corp Of America had a return on equity of 30.86% and a net margin of 11.12%. The business had revenue of $1.73 billion during the quarter, compared to analysts’ expectations of $1.77 billion. During the same quarter last year, the business posted $1.55 EPS. The business’s revenue was up 2.5% on a year-over-year basis. Sell-side analysts predict that Packaging Corp Of America will post 8.17 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 14th will be paid a $0.79 dividend. This represents a $3.16 dividend on an annualized basis and a dividend yield of 3.36%. The ex-dividend date is Thursday, June 13th. Packaging Corp Of America’s payout ratio is presently 39.35%.

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About Packaging Corp Of America

Packaging Corporation of America manufactures and sells containerboard and corrugated packaging products primarily in the United States. The company's Packaging segment offers various corrugated packaging products, such as conventional shipping containers used to protect and transport manufactured goods; multi-color boxes and displays that help to merchandise the packaged product in retail locations; and honeycomb protective packaging products.

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

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