Bessemer Group Inc. Buys New Holdings in Packaging Corp Of America (PKG)

Bessemer Group Inc. bought a new position in shares of Packaging Corp Of America (NYSE:PKG) during the 3rd quarter, according to its most recent disclosure with the SEC. The fund bought 1,111 shares of the industrial products company’s stock, valued at approximately $122,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in PKG. Stone Ridge Asset Management LLC increased its position in Packaging Corp Of America by 62.1% in the 3rd quarter. Stone Ridge Asset Management LLC now owns 4,142 shares of the industrial products company’s stock valued at $454,000 after buying an additional 1,587 shares in the last quarter. Dupont Capital Management Corp increased its position in Packaging Corp Of America by 24.5% in the 3rd quarter. Dupont Capital Management Corp now owns 38,603 shares of the industrial products company’s stock valued at $4,234,000 after buying an additional 7,605 shares in the last quarter. Cannell Peter B & Co. Inc. increased its position in Packaging Corp Of America by 3.4% in the 3rd quarter. Cannell Peter B & Co. Inc. now owns 88,185 shares of the industrial products company’s stock valued at $9,673,000 after buying an additional 2,900 shares in the last quarter. Chicago Partners Investment Group LLC increased its position in Packaging Corp Of America by 100.0% in the 3rd quarter. Chicago Partners Investment Group LLC now owns 2,800 shares of the industrial products company’s stock valued at $250,000 after buying an additional 1,400 shares in the last quarter. Finally, Icon Advisers Inc. Co. bought a new stake in Packaging Corp Of America in the 3rd quarter valued at about $1,185,000. 87.45% of the stock is currently owned by hedge funds and other institutional investors.

Shares of PKG opened at $95.60 on Friday. The company has a debt-to-equity ratio of 0.99, a current ratio of 2.76 and a quick ratio of 1.74. The company has a market cap of $9.05 billion, a price-to-earnings ratio of 15.88, a P/E/G ratio of 1.43 and a beta of 1.82. Packaging Corp Of America has a 52 week low of $83.54 and a 52 week high of $131.13.

Packaging Corp Of America (NYSE:PKG) last issued its quarterly earnings data on Wednesday, October 24th. The industrial products company reported $2.23 EPS for the quarter, topping analysts’ consensus estimates of $2.15 by $0.08. The firm had revenue of $1.81 billion during the quarter, compared to analyst estimates of $1.76 billion. Packaging Corp Of America had a return on equity of 29.96% and a net margin of 11.54%. Analysts expect that Packaging Corp Of America will post 8.03 EPS for the current year.

A number of brokerages recently commented on PKG. ValuEngine raised Packaging Corp Of America from a “strong sell” rating to a “sell” rating in a research report on Wednesday, October 31st. Barclays decreased their target price on Packaging Corp Of America from $100.00 to $95.00 and set an “equal weight” rating for the company in a research report on Monday, October 29th. Deutsche Bank set a $120.00 target price on Packaging Corp Of America and gave the company a “hold” rating in a research report on Monday, October 29th. Argus decreased their target price on Packaging Corp Of America from $130.00 to $105.00 and set a “buy” rating for the company in a research report on Friday, October 26th. Finally, Wells Fargo & Co decreased their target price on Packaging Corp Of America from $140.00 to $110.00 and set an “outperform” rating for the company in a research report on Friday, October 26th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $116.91.

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Packaging Corp Of America Company Profile

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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