Wagner Bowman Management Corp reduced its position in Packaging Corp. of America (NYSE:PKG) by 5.2% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,670 shares of the company’s stock after selling 200 shares during the period. Wagner Bowman Management Corp’s holdings in Packaging Corp. of America were worth $245,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently added to or reduced their stakes in PKG. BlackRock Fund Advisors boosted its position in Packaging Corp. of America by 82.2% in the first quarter. BlackRock Fund Advisors now owns 6,590,596 shares of the company’s stock valued at $398,072,000 after buying an additional 2,972,569 shares during the period. State Street Corp boosted its position in Packaging Corp. of America by 2.8% in the first quarter. State Street Corp now owns 3,194,331 shares of the company’s stock valued at $192,931,000 after buying an additional 87,474 shares during the period. Prudential Financial Inc. boosted its position in Packaging Corp. of America by 98.2% in the first quarter. Prudential Financial Inc. now owns 926,615 shares of the company’s stock valued at $55,967,000 after buying an additional 459,180 shares during the period. Norges Bank acquired a new position in Packaging Corp. of America during the fourth quarter valued at approximately $57,976,000. Finally, Geode Capital Management LLC boosted its position in Packaging Corp. of America by 16.5% in the first quarter. Geode Capital Management LLC now owns 656,484 shares of the company’s stock valued at $39,630,000 after buying an additional 93,037 shares during the period. Hedge funds and other institutional investors own 86.87% of the company’s stock.

Packaging Corp. of America (NYSE:PKG) traded up 2.37% on Wednesday, hitting $81.66. The stock had a trading volume of 569,618 shares. Packaging Corp. of America has a 1-year low of $44.32 and a 1-year high of $82.06. The firm has a market cap of $7.62 billion, a P/E ratio of 17.35 and a beta of 1.71. The firm’s 50-day moving average price is $78.09 and its 200-day moving average price is $68.53.

Packaging Corp. of America (NYSE:PKG) last released its earnings results on Thursday, July 21st. The company reported $1.25 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.18 by $0.07. The firm had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.46 billion. Packaging Corp. of America had a return on equity of 27.74% and a net margin of 7.95%. During the same quarter last year, the firm posted $1.18 EPS. The company’s revenue was down 2.5% on a year-over-year basis. On average, equities research analysts predict that Packaging Corp. of America will post $4.81 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 14th. Stockholders of record on Thursday, September 15th will be issued a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a dividend yield of 3.09%. The ex-dividend date of this dividend is Tuesday, September 13th. This is a positive change from Packaging Corp. of America’s previous quarterly dividend of $0.55. Packaging Corp. of America’s dividend payout ratio (DPR) is presently 53.62%.

Several equities research analysts recently issued reports on the company. Deutsche Bank AG lowered Packaging Corp. of America from a “buy” rating to a “hold” rating and upped their price target for the company from $73.00 to $75.00 in a research report on Friday, July 22nd. BMO Capital Markets reissued a “buy” rating on shares of Packaging Corp. of America in a research report on Thursday, July 7th. Citigroup Inc. reissued a “neutral” rating and set a $69.00 price target on shares of Packaging Corp. of America in a research report on Thursday, July 7th. Zacks Investment Research raised Packaging Corp. of America from a “hold” rating to a “buy” rating and set a $74.00 price target on the stock in a research report on Tuesday, June 14th. Finally, Buckingham Research lowered Packaging Corp. of America from a “buy” rating to a “neutral” rating and upped their price target for the company from $72.00 to $74.00 in a research report on Monday, July 18th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $77.50.

In other news, SVP Kent A. Pflederer sold 1,100 shares of Packaging Corp. of America stock in a transaction that occurred on Friday, July 22nd. The stock was sold at an average price of $74.30, for a total transaction of $81,730.00. Following the sale, the senior vice president now owns 34,623 shares of the company’s stock, valued at approximately $2,572,488.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.10% of the company’s stock.

Packaging Corp. of America Company Profile

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.

5 Day Chart for NYSE:PKG

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