Packaging Corp Of America (NYSE:PKG) Stake Decreased by Retirement Systems of Alabama

Retirement Systems of Alabama trimmed its position in shares of Packaging Corp Of America (NYSE:PKG) by 62.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 45,774 shares of the industrial products company’s stock after selling 75,671 shares during the quarter. Retirement Systems of Alabama’s holdings in Packaging Corp Of America were worth $5,249,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Southeast Asset Advisors Inc. lifted its position in Packaging Corp Of America by 0.3% in the 2nd quarter. Southeast Asset Advisors Inc. now owns 4,560 shares of the industrial products company’s stock valued at $508,000 after acquiring an additional 12 shares in the last quarter. Van ECK Associates Corp lifted its position in Packaging Corp Of America by 1.5% during the 2nd quarter. Van ECK Associates Corp now owns 2,302 shares of the industrial products company’s stock worth $256,000 after buying an additional 34 shares in the last quarter. Advisor Partners LLC lifted its position in Packaging Corp Of America by 1.2% during the 2nd quarter. Advisor Partners LLC now owns 3,170 shares of the industrial products company’s stock worth $353,000 after buying an additional 39 shares in the last quarter. Ropes Wealth Advisors LLC lifted its position in Packaging Corp Of America by 1.8% during the 2nd quarter. Ropes Wealth Advisors LLC now owns 3,969 shares of the industrial products company’s stock worth $442,000 after buying an additional 69 shares in the last quarter. Finally, World Asset Management Inc lifted its position in Packaging Corp Of America by 1.5% during the 2nd quarter. World Asset Management Inc now owns 7,158 shares of the industrial products company’s stock worth $797,000 after buying an additional 104 shares in the last quarter. 90.24% of the stock is currently owned by institutional investors.

Shares of Packaging Corp Of America (NYSE PKG) traded down $0.42 on Wednesday, reaching $117.34. 520,935 shares of the company were exchanged, compared to its average volume of 888,419. Packaging Corp Of America has a twelve month low of $84.01 and a twelve month high of $120.75. The firm has a market cap 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. 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 (NYSE:PKG) last announced its quarterly earnings results on Wednesday, October 25th. The industrial products company reported $1.68 EPS 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 analyst estimates of $1.64 billion. During the same quarter last year, the company posted $1.30 EPS. The firm’s quarterly revenue was up 10.5% on a year-over-year basis. analysts anticipate that Packaging Corp Of America will post 5.99 earnings per share for the current year.

Several equities research analysts have commented on the stock. Stephens assumed coverage on shares of Packaging Corp Of America in a research report on Tuesday, October 24th. They set an “overweight” rating and a $130.00 price target on the stock. Barclays boosted their price target on shares of Packaging Corp Of America from $108.00 to $110.00 and gave the stock an “equal weight” rating in a research report on Monday, October 30th. Zacks Investment Research cut shares of Packaging Corp Of America from a “buy” rating to a “hold” rating in a research report on Monday, October 30th. KeyCorp reissued a “hold” rating on shares of Packaging Corp Of America in a research report on Sunday, October 29th. Finally, Deutsche Bank reissued a “hold” rating and set a $120.00 price target (up from $94.00) on shares of Packaging Corp Of America in a research report on Monday, October 9th. Eight analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $117.36.

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

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Packaging Corp 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 Corp Of America (NYSE:PKG)

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