Packaging Corp Of America (NYSE:PKG) Holdings Raised by California State Teachers Retirement System

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California State Teachers Retirement System boosted its position in shares of Packaging Corp Of America (NYSE:PKG) by 0.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 152,062 shares of the industrial products company’s stock after purchasing an additional 548 shares during the period. California State Teachers Retirement System owned 0.16% of Packaging Corp Of America worth $16,134,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in PKG. Parallel Advisors LLC grew its holdings in Packaging Corp Of America by 774.2% during the second quarter. Parallel Advisors LLC now owns 271 shares of the industrial products company’s stock valued at $26,000 after purchasing an additional 240 shares during the last quarter. Steward Partners Investment Advisory LLC bought a new stake in shares of Packaging Corp Of America in the second quarter valued at about $35,000. Motco lifted its stake in shares of Packaging Corp Of America by 126.3% in the second quarter. Motco now owns 405 shares of the industrial products company’s stock valued at $39,000 after buying an additional 226 shares during the period. Horan Capital Advisors LLC. acquired a new stake in Packaging Corp Of America during the third quarter worth about $44,000. Finally, First Mercantile Trust Co. acquired a new stake in Packaging Corp Of America during the second quarter worth about $40,000. 93.42% of the stock is owned by institutional investors and hedge funds.

In other news, SVP Bruce A. Ridley sold 1,900 shares of the business’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $112.92, for a total value of $214,548.00. Following the completion of the sale, the senior vice president now owns 17,589 shares of the company’s stock, valued at $1,986,149.88. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.20% of the stock is currently owned by company insiders.

Several research firms have commented on PKG. BNP Paribas initiated coverage on Packaging Corp Of America in a report on Monday. They issued a “neutral” rating and a $118.00 price target for the company. Zacks Investment Research downgraded Packaging Corp Of America from a “hold” rating to a “sell” rating and set a $116.00 target price for the company. in a research report on Monday, October 14th. ValuEngine lowered shares of Packaging Corp Of America from a “buy” rating to a “hold” rating in a research report on Monday, October 7th. Bank of America boosted their price objective on Packaging Corp Of America from $108.00 to $112.00 and gave the stock a “neutral” rating in a research note on Thursday, October 24th. Finally, Citigroup lifted their price target on Packaging Corp Of America from $101.00 to $108.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $108.50.

NYSE:PKG opened at $111.03 on Tuesday. The stock has a market capitalization of $10.59 billion, a PE ratio of 13.83, a P/E/G ratio of 2.93 and a beta of 1.68. The firm has a fifty day simple moving average of $111.09 and a 200 day simple moving average of $102.12. Packaging Corp Of America has a 1-year low of $77.90 and a 1-year high of $114.78. The company has a current ratio of 3.28, a quick ratio of 2.24 and a debt-to-equity ratio of 0.88.

Packaging Corp Of America (NYSE:PKG) last released its quarterly earnings data on Wednesday, October 23rd. The industrial products company reported $1.92 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.90 by $0.02. The firm had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.79 billion. Packaging Corp Of America had a net margin of 10.94% and a return on equity of 26.92%. The company’s quarterly revenue was down 3.3% on a year-over-year basis. During the same period in the previous year, the company earned $2.23 earnings per share. On average, equities analysts predict that Packaging Corp Of America will post 7.64 earnings per share for the current fiscal year.

About Packaging Corp Of America

Packaging Corporation of America manufactures and sells containerboard and corrugated packaging products primarily in the United States. The company's Packaging segment offers various corrugated packaging products, such as conventional shipping containers used to protect and transport manufactured goods; multi-color boxes and displays that help to merchandise the packaged product in retail locations; and honeycomb protective packaging products.

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

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