Great West Life Assurance Co. Can Has $8.87 Million Stake in Packaging Corp Of America (PKG)

Great West Life Assurance Co. Can decreased its holdings in shares of Packaging Corp Of America (NYSE:PKG) by 11.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 76,935 shares of the industrial products company’s stock after selling 9,678 shares during the quarter. Great West Life Assurance Co. Can owned about 0.08% of Packaging Corp Of America worth $8,874,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of PKG. Assenagon Asset Management S.A. acquired a new position in Packaging Corp Of America during the third quarter valued at approximately $14,544,000. State Street Corp grew its holdings in Packaging Corp Of America by 1.0% during the second quarter. State Street Corp now owns 3,336,381 shares of the industrial products company’s stock valued at $371,683,000 after purchasing an additional 31,624 shares during the period. First Eagle Investment Management LLC grew its holdings in Packaging Corp Of America by 17.9% during the third quarter. First Eagle Investment Management LLC now owns 2,100,096 shares of the industrial products company’s stock valued at $240,839,000 after purchasing an additional 319,452 shares during the period. Morse Asset Management Inc grew its holdings in Packaging Corp Of America by 20.3% during the third quarter. Morse Asset Management Inc now owns 5,922 shares of the industrial products company’s stock valued at $679,000 after purchasing an additional 1,000 shares during the period. Finally, TIAA CREF Investment Management LLC grew its holdings in Packaging Corp Of America by 23.5% during the second quarter. TIAA CREF Investment Management LLC now owns 565,067 shares of the industrial products company’s stock valued at $62,943,000 after purchasing an additional 107,348 shares during the period. Institutional investors own 90.24% of the company’s stock.

Shares of Packaging Corp Of America (NYSE PKG) traded down $1.15 on Wednesday, reaching $117.76. 670,000 shares of the company’s stock were exchanged, compared to its average volume of 889,989. The company has a debt-to-equity ratio of 1.30, a quick ratio of 1.49 and a current ratio of 2.45. Packaging Corp Of America has a 1 year low of $84.01 and a 1 year high of $120.75. The company has a market capitalization of $11,219.22, a price-to-earnings ratio of 20.86, a P/E/G ratio of 2.38 and a beta of 1.81.

Packaging Corp Of America (NYSE:PKG) last announced its quarterly earnings results on Wednesday, October 25th. The industrial products company reported $1.68 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.69 by ($0.01). Packaging Corp Of America had a net margin of 8.18% and a return on equity of 29.38%. The company had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.64 billion. During the same period in the previous year, the firm posted $1.30 EPS. The business’s quarterly revenue was up 10.5% compared to the same quarter last year. research analysts forecast that Packaging Corp Of America will post 5.99 EPS for the current year.

PKG has been the subject of a number of analyst reports. Deutsche Bank restated a “hold” rating and set a $120.00 price objective (up previously from $94.00) on shares of Packaging Corp Of America in a report on Monday, October 9th. Stephens initiated coverage on shares of Packaging Corp Of America in a report on Tuesday, October 24th. They set an “overweight” rating and a $130.00 price objective for the company. BMO Capital Markets restated an “outperform” rating and set a $122.00 price objective (up previously from $118.00) on shares of Packaging Corp Of America in a report on Tuesday, August 22nd. Barclays boosted their price objective on shares of Packaging Corp Of America from $108.00 to $110.00 and gave the company an “equal weight” rating in a report on Monday, October 30th. Finally, Zacks Investment Research upgraded shares of Packaging Corp Of America from a “hold” rating to a “buy” rating and set a $132.00 price objective for the company in a report on Thursday, October 12th. Eight investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Packaging Corp Of America presently has a consensus rating of “Hold” and an average price target of $117.36.

In other Packaging Corp Of America news, VP Thomas A. Hassfurther sold 6,000 shares of Packaging Corp Of America stock in a transaction that occurred on Tuesday, September 12th. The shares were sold at an average price of $117.94, for a total value of $707,640.00. Following the transaction, the vice president now owns 155,071 shares of the company’s stock, valued at $18,289,073.74. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Charles J. Carter sold 6,150 shares of Packaging Corp Of America stock in a transaction that occurred on Friday, October 27th. The shares were sold at an average price of $117.04, for a total transaction of $719,796.00. Following the completion of the transaction, the senior vice president now directly owns 24,265 shares in the company, valued at approximately $2,839,975.60. The disclosure for this sale can be found here. In the last ninety days, insiders sold 73,177 shares of company stock worth $2,135,172. Insiders own 1.20% of the company’s stock.

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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.

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

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