Packaging Corporation of America (PKG) Shares Sold by NGAM Advisors L.P.

NGAM Advisors L.P. reduced its stake in Packaging Corporation of America (NYSE:PKG) by 6.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 113,026 shares of the industrial products company’s stock after selling 7,779 shares during the period. NGAM Advisors L.P. owned 0.12% of Packaging Corporation of America worth $12,590,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. BlackRock Inc. boosted its position in shares of Packaging Corporation of America by 8,719.3% in the first quarter. BlackRock Inc. now owns 13,344,341 shares of the industrial products company’s stock worth $1,222,607,000 after buying an additional 13,193,032 shares during the last quarter. Iridian Asset Management LLC CT boosted its position in Packaging Corporation of America by 2,657.5% in the first quarter. Iridian Asset Management LLC CT now owns 1,378,725 shares of the industrial products company’s stock worth $126,319,000 after buying an additional 1,328,725 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Packaging Corporation of America by 5.7% in the first quarter. Vanguard Group Inc. now owns 8,238,908 shares of the industrial products company’s stock worth $754,848,000 after buying an additional 445,345 shares during the last quarter. Point72 Asset Management L.P. purchased a new stake in shares of Packaging Corporation of America during the first quarter worth approximately $35,656,000. Finally, Bank of New York Mellon Corp raised its stake in shares of Packaging Corporation of America by 8.6% in the first quarter. Bank of New York Mellon Corp now owns 4,035,040 shares of the industrial products company’s stock worth $369,689,000 after buying an additional 318,194 shares during the last quarter. Institutional investors and hedge funds own 88.25% of the company’s stock.

Shares of Packaging Corporation of America (NYSE PKG) traded up 0.18% during mid-day trading on Friday, reaching $107.52. The company had a trading volume of 1,532,275 shares. Packaging Corporation of America has a one year low of $74.95 and a one year high of $114.31. The company has a 50 day moving average price of $110.57 and a 200 day moving average price of $100.12. The company has a market capitalization of $10.07 billion, a price-to-earnings ratio of 20.72 and a beta of 1.86.

Packaging Corporation of America (NYSE:PKG) last issued its earnings results on Wednesday, July 26th. The industrial products company reported $1.52 EPS for the quarter, beating the consensus estimate of $1.47 by $0.05. Packaging Corporation of America had a return on equity of 27.78% and a net margin of 8.05%. The business had revenue of $1.58 billion for the quarter, compared to the consensus estimate of $1.56 billion. During the same period last year, the business posted $1.25 EPS. The company’s revenue was up 11.8% compared to the same quarter last year. On average, analysts anticipate that Packaging Corporation of America will post $6.00 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Friday, July 14th. Investors of record on Thursday, June 15th were issued a $0.63 dividend. The ex-dividend date of this dividend was Tuesday, June 13th. This represents a $2.52 dividend on an annualized basis and a yield of 2.34%. Packaging Corporation of America’s dividend payout ratio is currently 48.56%.

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PKG has been the subject of several analyst reports. BMO Capital Markets restated a “buy” rating and set a $118.00 target price on shares of Packaging Corporation of America in a research report on Friday, August 4th. BidaskClub upgraded Packaging Corporation of America from a “hold” rating to a “buy” rating in a research note on Wednesday, August 2nd. Goldman Sachs Group, Inc. (The) upgraded Packaging Corporation of America from a “sell” rating to a “neutral” rating and boosted their target price for the company from $105.00 to $111.00 in a research note on Thursday, July 13th. Jefferies Group LLC reiterated a “buy” rating and set a $128.00 price objective (up previously from $114.00) on shares of Packaging Corporation of America in a research note on Friday, July 14th. Finally, Zacks Investment Research raised Packaging Corporation of America from a “sell” rating to a “hold” rating in a report on Tuesday, July 11th. Seven analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Packaging Corporation of America has a consensus rating of “Buy” and an average target price of $102.73.

Packaging Corporation of America Company Profile

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.

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

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