Commonwealth of Pennsylvania Public School Empls Retrmt SYS Sells 12 Shares of Packaging Corporation of America (NYSE:PKG)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS trimmed its holdings in Packaging Corporation of America (NYSE:PKG) by 0.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 13,749 shares of the industrial products company’s stock after selling 12 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Packaging Corporation of America were worth $1,532,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PKG. 1st Global Advisors Inc. bought a new stake in Packaging Corporation of America in the first quarter worth about $1,130,000. Capital Innovations LLC raised its position in Packaging Corporation of America by 1.8% in the first quarter. Capital Innovations LLC now owns 3,479 shares of the industrial products company’s stock worth $319,000 after acquiring an additional 60 shares during the period. Sumitomo Mitsui Trust Holdings Inc. raised its position in Packaging Corporation of America by 2.7% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 293,576 shares of the industrial products company’s stock worth $32,701,000 after acquiring an additional 7,705 shares during the period. HL Financial Services LLC raised its position in Packaging Corporation of America by 0.5% in the first quarter. HL Financial Services LLC now owns 39,563 shares of the industrial products company’s stock worth $3,625,000 after acquiring an additional 216 shares during the period. Finally, Candriam Luxembourg S.C.A. bought a new stake in Packaging Corporation of America in the second quarter worth about $486,000. 88.59% of the stock is currently owned by institutional investors.

PKG has been the topic of several research reports. BidaskClub lowered shares of Packaging Corporation of America from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, July 19th. BMO Capital Markets reiterated an “outperform” rating and issued a $122.00 target price (up previously from $118.00) on shares of Packaging Corporation of America in a research note on Tuesday, August 22nd. ValuEngine upgraded shares of Packaging Corporation of America from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. Wells Fargo & Company downgraded shares of Packaging Corporation of America from an “outperform” rating to a “market perform” rating in a research note on Monday, July 10th. Finally, Goldman Sachs Group, Inc. (The) upgraded shares of Packaging Corporation of America from a “sell” rating to a “neutral” rating and lifted their target price for the stock from $105.00 to $111.00 in a research note on Thursday, July 13th. Seven analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $107.90.

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Shares of Packaging Corporation of America (NYSE PKG) traded up 0.07% during midday trading on Friday, reaching $115.88. 2,177,654 shares of the company’s stock traded hands. The firm has a market capitalization of $10.85 billion, a PE ratio of 22.33 and a beta of 1.86. The stock’s 50-day moving average price is $110.99 and its 200 day moving average price is $103.15. Packaging Corporation of America has a one year low of $78.03 and a one year high of $118.97.

Packaging Corporation of America (NYSE:PKG) last issued its quarterly earnings results on Wednesday, July 26th. The industrial products company reported $1.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.47 by $0.05. The company had revenue of $1.58 billion during the quarter, compared to the consensus estimate of $1.56 billion. Packaging Corporation of America had a return on equity of 27.78% and a net margin of 8.05%. Packaging Corporation of America’s revenue was up 11.8% on a year-over-year basis. During the same period last year, the company earned $1.25 earnings per share. On average, equities research analysts expect that Packaging Corporation of America will post $6.02 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, October 13th. Investors of record on Friday, September 15th will be given a $0.63 dividend. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $2.52 dividend on an annualized basis and a yield of 2.17%. Packaging Corporation of America’s dividend payout ratio is presently 48.56%.

In related news, VP Thomas A. Hassfurther sold 6,000 shares of the firm’s stock in a transaction on Tuesday, September 12th. The stock was sold at an average price of $117.94, for a total value of $707,640.00. Following the completion of the sale, the vice president now directly owns 155,071 shares in the company, valued at $18,289,073.74. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 1.20% of the stock is owned by company insiders.

Packaging Corporation of America 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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