TIAA CREF Investment Management LLC lessened its position in shares of Packaging Corp Of America (NYSE:PKG) by 5.2% in the fourth quarter, HoldingsChannel.com reports. The firm owned 446,835 shares of the industrial products company’s stock after selling 24,283 shares during the quarter. TIAA CREF Investment Management LLC’s holdings in Packaging Corp Of America were worth $53,866,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in PKG. BlackRock Inc. grew its position in shares of Packaging Corp Of America by 0.8% during the 4th quarter. BlackRock Inc. now owns 10,061,963 shares of the industrial products company’s stock worth $1,212,968,000 after buying an additional 75,165 shares during the period. Wells Fargo & Company MN grew its position in shares of Packaging Corp Of America by 0.6% during the 4th quarter. Wells Fargo & Company MN now owns 2,328,705 shares of the industrial products company’s stock worth $280,725,000 after buying an additional 12,949 shares during the period. Victory Capital Management Inc. grew its position in shares of Packaging Corp Of America by 7,416.1% during the 4th quarter. Victory Capital Management Inc. now owns 1,383,784 shares of the industrial products company’s stock worth $166,815,000 after buying an additional 1,365,373 shares during the period. APG Asset Management N.V. grew its position in shares of Packaging Corp Of America by 28.1% during the 4th quarter. APG Asset Management N.V. now owns 1,248,128 shares of the industrial products company’s stock worth $125,301,000 after buying an additional 273,900 shares during the period. Finally, Geode Capital Management LLC grew its position in shares of Packaging Corp Of America by 3.8% during the 4th quarter. Geode Capital Management LLC now owns 1,085,075 shares of the industrial products company’s stock worth $130,554,000 after buying an additional 39,408 shares during the period. 88.82% of the stock is owned by institutional investors and hedge funds.

How to Become a New Pot Stock Millionaire

Shares of Packaging Corp Of America stock opened at $117.65 on Thursday. Packaging Corp Of America has a 52-week low of $88.47 and a 52-week high of $131.13. The company has a debt-to-equity ratio of 1.15, a current ratio of 2.30 and a quick ratio of 1.38. The stock has a market cap of $10,992.70, a price-to-earnings ratio of 19.32, a P/E/G ratio of 1.85 and a beta of 1.82.

Packaging Corp Of America (NYSE:PKG) last posted its quarterly earnings results on Tuesday, January 30th. The industrial products company reported $1.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.51 by $0.05. Packaging Corp Of America had a net margin of 10.37% and a return on equity of 28.85%. The business had revenue of $1.68 billion during the quarter, compared to the consensus estimate of $1.61 billion. During the same quarter last year, the firm posted $1.23 EPS. Packaging Corp Of America’s revenue was up 14.1% compared to the same quarter last year. equities analysts forecast that Packaging Corp Of America will post 7.54 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 13th. Investors of record on Thursday, March 15th will be given a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 2.14%. The ex-dividend date is Wednesday, March 14th. Packaging Corp Of America’s payout ratio is currently 35.64%.

PKG has been the subject of several recent analyst reports. ValuEngine raised shares of Packaging Corp Of America from a “hold” rating to a “buy” rating in a research report on Sunday, December 31st. Wells Fargo raised shares of Packaging Corp Of America from a “market perform” rating to an “outperform” rating in a research report on Wednesday, January 31st. Zacks Investment Research downgraded shares of Packaging Corp Of America from a “hold” rating to a “sell” rating in a research report on Tuesday, January 2nd. Bank of America raised their price objective on shares of Packaging Corp Of America from $134.00 to $138.00 and gave the stock a “buy” rating in a research report on Thursday, February 1st. Finally, DA Davidson raised shares of Packaging Corp Of America from a “neutral” rating to a “buy” rating in a research report on Monday, February 12th. Seven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $128.00.

ILLEGAL ACTIVITY NOTICE: “Packaging Corp Of America (PKG) Holdings Trimmed by TIAA CREF Investment Management LLC” was published by The Cerbat Gem and is owned by of The Cerbat Gem. If you are reading this story on another domain, it was copied illegally and republished in violation of United States & international trademark & copyright legislation. The legal version of this story can be accessed at https://www.thecerbatgem.com/2018/03/22/packaging-corp-of-america-pkg-holdings-trimmed-by-tiaa-cref-investment-management-llc.html.

About Packaging Corp Of America

Packaging Corporation of America (PCA) is a producer of containerboard products and uncoated freesheet. The Company operates through three segments: Packaging, Paper, and Corporate and Other. The Packaging segment produces a range of corrugated packaging products. The Paper segment manufactures and sells a range of papers, including communication-based papers and pressure sensitive papers.

Want to see what other hedge funds are holding PKG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Packaging Corp Of America (NYSE:PKG).

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

Receive News & Ratings for Packaging Corp Of America Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Packaging Corp Of America and related companies with MarketBeat.com's FREE daily email newsletter.