Hennessy Advisors Inc. Takes Position in Packaging Corp Of America (NYSE:PKG)

Hennessy Advisors Inc. purchased a new stake in shares of Packaging Corp Of America (NYSE:PKG) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 107,500 shares of the industrial products company’s stock, valued at approximately $12,039,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Scotia Capital Inc. lifted its holdings in shares of Packaging Corp Of America by 1.8% during the 2nd quarter. Scotia Capital Inc. now owns 5,861 shares of the industrial products company’s stock valued at $559,000 after buying an additional 103 shares during the period. BKD Wealth Advisors LLC lifted its holdings in shares of Packaging Corp Of America by 4.4% during the 4th quarter. BKD Wealth Advisors LLC now owns 3,434 shares of the industrial products company’s stock valued at $385,000 after buying an additional 145 shares during the period. Global Wealth Management Investment Advisory Inc. lifted its holdings in shares of Packaging Corp Of America by 4.9% during the 2nd quarter. Global Wealth Management Investment Advisory Inc. now owns 3,172 shares of the industrial products company’s stock valued at $302,000 after buying an additional 147 shares during the period. Commonwealth Equity Services LLC lifted its holdings in shares of Packaging Corp Of America by 1.3% during the 3rd quarter. Commonwealth Equity Services LLC now owns 11,379 shares of the industrial products company’s stock valued at $1,207,000 after buying an additional 149 shares during the period. Finally, San Francisco Sentry Investment Group CA lifted its holdings in shares of Packaging Corp Of America by 4.8% during the 3rd quarter. San Francisco Sentry Investment Group CA now owns 3,265 shares of the industrial products company’s stock valued at $346,000 after buying an additional 150 shares during the period. 93.24% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE:PKG traded up $0.57 during trading on Tuesday, reaching $107.91. The company’s stock had a trading volume of 4,374 shares, compared to its average volume of 661,425. The company has a current ratio of 3.28, a quick ratio of 2.24 and a debt-to-equity ratio of 0.88. Packaging Corp Of America has a 12 month low of $87.85 and a 12 month high of $114.78. The firm’s 50 day simple moving average is $110.78 and its two-hundred day simple moving average is $105.68. The stock has a market capitalization of $10.00 billion, a PE ratio of 13.45, a price-to-earnings-growth ratio of 3.08 and a beta of 1.68.

Packaging Corp Of America (NYSE:PKG) last announced its quarterly earnings data on Wednesday, October 23rd. The industrial products company reported $1.92 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.90 by $0.02. The business had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.79 billion. Packaging Corp Of America had a net margin of 10.94% and a return on equity of 26.92%. The firm’s quarterly revenue was down 3.3% compared to the same quarter last year. During the same quarter last year, the firm earned $2.23 earnings per share. Research analysts anticipate that Packaging Corp Of America will post 7.64 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Friday, December 20th will be paid a $0.79 dividend. This represents a $3.16 annualized dividend and a yield of 2.93%. The ex-dividend date of this dividend is Thursday, December 19th. Packaging Corp Of America’s payout ratio is currently 39.35%.

Several equities analysts have recently weighed in on the company. Goldman Sachs Group cut Packaging Corp Of America from a “neutral” rating to a “sell” rating and set a $102.00 price target on the stock. in a report on Tuesday, December 10th. Exane BNP Paribas assumed coverage on Packaging Corp Of America in a report on Monday, December 2nd. They set a “neutral” rating and a $118.00 price target on the stock. BNP Paribas initiated coverage on Packaging Corp Of America in a report on Monday, December 2nd. They set a “neutral” rating and a $118.00 price target on the stock. Vertical Research lowered Packaging Corp Of America from a “buy” rating to a “hold” rating and set a $117.00 price objective for the company. in a research note on Tuesday, November 26th. Finally, Deutsche Bank increased their price target on Packaging Corp Of America from $100.00 to $115.00 and gave the stock a “hold” rating in a research note on Monday, December 9th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and two have issued a buy rating to the company’s stock. Packaging Corp Of America has an average rating of “Hold” and a consensus price target of $108.50.

In other Packaging Corp Of America news, SVP Bruce A. Ridley sold 1,900 shares of the firm’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $112.92, for a total value of $214,548.00. Following the completion of the sale, the senior vice president now owns 17,589 shares of the company’s stock, valued at $1,986,149.88. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 1.20% of the stock is owned by company insiders.

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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