Rockefeller Capital Management L.P. Raises Holdings in Packaging Co. of America (NYSE:PKG)

Rockefeller Capital Management L.P. lifted its holdings in shares of Packaging Co. of America (NYSE:PKG) by 29.2% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 27,571 shares of the industrial products company’s stock after acquiring an additional 6,225 shares during the period. Rockefeller Capital Management L.P.’s holdings in Packaging Co. of America were worth $3,707,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the company. Barings LLC grew its stake in shares of Packaging Co. of America by 45.4% during the first quarter. Barings LLC now owns 2,762 shares of the industrial products company’s stock worth $371,000 after acquiring an additional 862 shares during the last quarter. Guyasuta Investment Advisors Inc. boosted its position in Packaging Co. of America by 2.8% in the first quarter. Guyasuta Investment Advisors Inc. now owns 54,712 shares of the industrial products company’s stock valued at $7,358,000 after buying an additional 1,502 shares during the last quarter. Vontobel Holding Ltd. boosted its position in Packaging Co. of America by 12.6% in the first quarter. Vontobel Holding Ltd. now owns 1,793 shares of the industrial products company’s stock valued at $241,000 after buying an additional 201 shares during the last quarter. Banque Cantonale Vaudoise boosted its position in Packaging Co. of America by 50.8% in the first quarter. Banque Cantonale Vaudoise now owns 2,672 shares of the industrial products company’s stock valued at $359,000 after buying an additional 900 shares during the last quarter. Finally, Atria Investments LLC boosted its position in Packaging Co. of America by 1.9% in the first quarter. Atria Investments LLC now owns 8,131 shares of the industrial products company’s stock valued at $1,093,000 after buying an additional 152 shares during the last quarter. Institutional investors and hedge funds own 88.62% of the company’s stock.

In other news, SVP Charles J. Carter sold 9,161 shares of the company’s stock in a transaction that occurred on Tuesday, May 11th. The stock was sold at an average price of $154.57, for a total transaction of $1,416,015.77. Following the completion of the transaction, the senior vice president now directly owns 39,572 shares of the company’s stock, valued at approximately $6,116,644.04. The sale was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 1.60% of the company’s stock.

Shares of PKG stock opened at $142.62 on Friday. The company has a current ratio of 3.55, a quick ratio of 2.55 and a debt-to-equity ratio of 0.75. The firm has a market cap of $13.55 billion, a P/E ratio of 27.96, a price-to-earnings-growth ratio of 4.17 and a beta of 0.90. The stock’s 50 day simple moving average is $146.08. Packaging Co. of America has a 1-year low of $92.01 and a 1-year high of $156.54.

Packaging Co. of America (NYSE:PKG) last announced its earnings results on Sunday, April 25th. The industrial products company reported $1.77 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.48 by $0.29. The business had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.71 billion. Packaging Co. of America had a return on equity of 17.85% and a net margin of 7.19%. The business’s quarterly revenue was up 5.8% on a year-over-year basis. During the same period in the prior year, the company posted $1.50 EPS. On average, research analysts forecast that Packaging Co. of America will post 7.27 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 15th. Stockholders of record on Tuesday, June 15th will be paid a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a dividend yield of 2.80%. The ex-dividend date of this dividend is Monday, June 14th. Packaging Co. of America’s payout ratio is 69.20%.

PKG has been the topic of a number of recent research reports. Morgan Stanley upped their target price on Packaging Co. of America from $131.00 to $140.00 and gave the company an “equal weight” rating in a research report on Thursday, April 29th. Deutsche Bank Aktiengesellschaft boosted their price target on Packaging Co. of America from $128.00 to $135.00 and gave the company a “hold” rating in a report on Monday, April 19th. BMO Capital Markets boosted their price target on Packaging Co. of America from $140.00 to $150.00 and gave the company a “market perform” rating in a report on Wednesday, April 28th. Finally, Wells Fargo & Company boosted their price target on Packaging Co. of America from $135.00 to $145.00 and gave the company an “equal weight” rating in a report on Wednesday, April 28th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company’s stock. Packaging Co. of America currently has an average rating of “Hold” and an average target price of $137.20.

About Packaging Co. of America

Packaging Corporation of America manufactures and sells containerboard and corrugated packaging products in the United States. The company operates through Packaging and Paper segments. The Packaging segment offers various containerboard and 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, as well as packaging for meat, fresh fruit and vegetables, processed food, beverages, and other industrial and consumer products.

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Institutional Ownership by Quarter for Packaging Co. of America (NYSE:PKG)

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