Pictet Asset Management Holding SA Increases Holdings in Packaging Co. of America (NYSE:PKG)

Pictet Asset Management Holding SA increased its stake in Packaging Co. of America (NYSE:PKG) by 3.7% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 476,137 shares of the industrial products company’s stock after buying an additional 16,900 shares during the quarter. Pictet Asset Management Holding SA owned 0.53% of Packaging Co. of America worth $107,193,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the stock. Cerity Partners LLC boosted its stake in Packaging Co. of America by 105.2% in the third quarter. Cerity Partners LLC now owns 15,833 shares of the industrial products company’s stock valued at $3,410,000 after acquiring an additional 8,117 shares during the last quarter. Larson Financial Group LLC raised its holdings in shares of Packaging Co. of America by 234.7% in the 3rd quarter. Larson Financial Group LLC now owns 164 shares of the industrial products company’s stock worth $35,000 after purchasing an additional 115 shares during the period. Daiwa Securities Group Inc. lifted its stake in Packaging Co. of America by 12.6% in the third quarter. Daiwa Securities Group Inc. now owns 10,941 shares of the industrial products company’s stock valued at $2,357,000 after purchasing an additional 1,228 shares during the last quarter. Private Trust Co. NA grew its holdings in Packaging Co. of America by 21.8% during the third quarter. Private Trust Co. NA now owns 1,090 shares of the industrial products company’s stock valued at $235,000 after purchasing an additional 195 shares during the period. Finally, Bank of Montreal Can increased its position in Packaging Co. of America by 19.0% in the third quarter. Bank of Montreal Can now owns 101,641 shares of the industrial products company’s stock worth $21,924,000 after buying an additional 16,219 shares during the last quarter. Institutional investors own 89.78% of the company’s stock.

Packaging Co. of America Stock Performance

Packaging Co. of America stock opened at $195.40 on Friday. Packaging Co. of America has a 1-year low of $169.00 and a 1-year high of $250.82. The company has a current ratio of 2.95, a quick ratio of 1.98 and a debt-to-equity ratio of 0.58. The firm has a market capitalization of $17.55 billion, a PE ratio of 21.88, a price-to-earnings-growth ratio of 2.41 and a beta of 0.77. The firm’s 50 day simple moving average is $210.46 and its 200 day simple moving average is $222.04.

Packaging Co. of America (NYSE:PKG) last released 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%. As a group, analysts expect that Packaging Co. of America will post 10.44 earnings per share for the current fiscal year.

Packaging Co. of America Dividend Announcement

The firm 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 dividend of $1.25 per share. The ex-dividend date is Friday, March 14th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.56%. Packaging Co. of America’s dividend payout ratio (DPR) is presently 55.99%.

Analyst Ratings Changes

Several research analysts have recently weighed in on PKG shares. Seaport Res Ptn upgraded Packaging Co. of America from a “hold” rating to a “strong-buy” rating in a research note on Thursday, February 13th. Citigroup increased their target price on shares of Packaging Co. of America from $232.00 to $235.00 and gave the stock a “neutral” rating in a research report on Monday, January 6th. Wells Fargo & Company lowered their price target on shares of Packaging Co. of America from $253.00 to $236.00 and set an “overweight” rating on the stock in a research report on Thursday, January 30th. Jefferies Financial Group raised shares of Packaging Co. of America from a “hold” rating to a “buy” rating and raised their price objective for the stock from $215.00 to $280.00 in a report on Wednesday, December 18th. Finally, StockNews.com raised shares of Packaging Co. of America from a “hold” rating to a “buy” rating in a report on Saturday. Two research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $233.00.

Packaging Co. of America Profile

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.