Packaging Corp. of America (NYSE:PKG) rose 3.6% during mid-day trading on Wednesday . The company traded as high as $67.81 and last traded at $67.77, with a volume of 814,106 shares changing hands. The stock had previously closed at $65.44.

PKG has been the subject of a number of research analyst reports. Zacks Investment Research lowered shares of Packaging Corp. of America from a “buy” rating to a “hold” rating in a report on Tuesday, June 28th. Jefferies Group reaffirmed a “buy” rating on shares of Packaging Corp. of America in a report on Monday, April 25th. Deutsche Bank AG reaffirmed a “buy” rating on shares of Packaging Corp. of America in a report on Wednesday, May 18th. Argus raised shares of Packaging Corp. of America from a “hold” rating to a “buy” rating and set a $73.00 price objective for the company in a report on Monday, April 25th. Finally, Dundee Securities lowered shares of Packaging Corp. of America from a “buy” rating to a “neutral” rating in a report on Monday, April 11th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $70.10.

The company has a 50-day moving average of $67.12 and a 200-day moving average of $59.97. The stock has a market capitalization of $6.38 billion and a P/E ratio of 14.76.

Packaging Corp. of America (NYSE:PKG) last posted its quarterly earnings data on Wednesday, April 20th. The company reported $1.11 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.01 by $0.10. The firm earned $1.40 billion during the quarter, compared to analyst estimates of $1.41 billion. During the same period in the prior year, the company posted $1.01 earnings per share. The firm’s revenue for the quarter was down 1.7% compared to the same quarter last year. On average, equities research analysts anticipate that Packaging Corp. of America will post $4.62 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 15th. Investors of record on Wednesday, June 15th will be paid a $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 3.21%. The ex-dividend date is Monday, June 13th.

In related news, SVP Charles J. Carter sold 6,463 shares of the stock in a transaction on Friday, April 22nd. The stock was sold at an average price of $65.63, for a total value of $424,166.69. Following the completion of the transaction, the senior vice president now directly owns 20,918 shares of the company’s stock, valued at approximately $1,372,848.34. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

A number of hedge funds recently modified their holdings of the stock. Iridian Asset Management LLC CT bought a new stake in shares of Packaging Corp. of America during the fourth quarter valued at about $82,541,000. Boston Partners boosted its stake in shares of Packaging Corp. of America by 19.1% in the fourth quarter. Boston Partners now owns 2,559,129 shares of the company’s stock valued at $161,353,000 after buying an additional 409,846 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Packaging Corp. of America by 3.9% in the fourth quarter. Vanguard Group Inc. now owns 7,208,922 shares of the company’s stock valued at $454,522,000 after buying an additional 268,879 shares during the last quarter. I.G. Investment Management LTD. boosted its stake in shares of Packaging Corp. of America by 180.6% in the fourth quarter. I.G. Investment Management LTD. now owns 237,598 shares of the company’s stock valued at $14,981,000 after buying an additional 152,933 shares during the last quarter. Finally, Morgan Stanley boosted its stake in shares of Packaging Corp. of America by 20.3% in the fourth quarter. Morgan Stanley now owns 470,212 shares of the company’s stock valued at $29,647,000 after buying an additional 79,250 shares during the last quarter.

Packaging Corporation of America (PCA) is a producer of containerboard and corrugated packaging products, and uncoated free sheet. The Company operates through three segments: Packaging, Paper, and Corporate and Other. The Company operates over eight mills and approximately 90 corrugated products manufacturing plants.

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