Janney Montgomery Scott LLC lowered its position in Packaging Corporation of America (NYSE:PKG) by 21.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,622 shares of the industrial products company’s stock after selling 2,683 shares during the period. Janney Montgomery Scott LLC’s holdings in Packaging Corporation of America were worth $1,072,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in PKG. Navellier & Associates Inc increased its stake in shares of Packaging Corporation of America by 215.9% in the first quarter. Navellier & Associates Inc now owns 98,910 shares of the industrial products company’s stock worth $9,062,000 after buying an additional 67,598 shares in the last quarter. Retirement Systems of Alabama increased its stake in shares of Packaging Corporation of America by 0.9% in the first quarter. Retirement Systems of Alabama now owns 121,620 shares of the industrial products company’s stock worth $11,143,000 after buying an additional 1,028 shares in the last quarter. Nisa Investment Advisors LLC increased its stake in shares of Packaging Corporation of America by 22.9% in the first quarter. Nisa Investment Advisors LLC now owns 45,279 shares of the industrial products company’s stock worth $4,148,000 after buying an additional 8,426 shares in the last quarter. Boston Advisors LLC increased its stake in shares of Packaging Corporation of America by 563.9% in the first quarter. Boston Advisors LLC now owns 218,791 shares of the industrial products company’s stock worth $20,046,000 after buying an additional 185,838 shares in the last quarter. Finally, Louisiana State Employees Retirement System increased its stake in shares of Packaging Corporation of America by 3.0% in the first quarter. Louisiana State Employees Retirement System now owns 23,800 shares of the industrial products company’s stock worth $2,181,000 after buying an additional 700 shares in the last quarter. Institutional investors and hedge funds own 88.25% of the company’s stock.

Packaging Corporation of America (PKG) opened at 107.52 on Friday. Packaging Corporation of America has a 12 month low of $74.95 and a 12 month high of $114.31. The stock has a market cap of $10.07 billion, a PE ratio of 20.72 and a beta of 1.86. The firm has a 50-day moving average of $110.57 and a 200 day moving average of $100.12.

Packaging Corporation of America (NYSE:PKG) last released its quarterly earnings data on Wednesday, July 26th. The industrial products company reported $1.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.47 by $0.05. Packaging Corporation of America had a net margin of 8.05% and a return on equity of 27.78%. The company had revenue of $1.58 billion during the quarter, compared to analyst estimates of $1.56 billion. During the same quarter in the prior year, the business earned $1.25 earnings per share. The business’s quarterly revenue was up 11.8% compared to the same quarter last year. Analysts anticipate that Packaging Corporation of America will post $6.00 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 14th. Stockholders of record on Thursday, June 15th were given a $0.63 dividend. This represents a $2.52 annualized dividend and a dividend yield of 2.34%. The ex-dividend date of this dividend was Tuesday, June 13th. Packaging Corporation of America’s payout ratio is currently 48.56%.

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A number of brokerages have recently issued reports on PKG. Jefferies Group LLC restated a “buy” rating and set a $128.00 price target (up previously from $114.00) on shares of Packaging Corporation of America in a report on Friday, July 14th. Zacks Investment Research upgraded shares of Packaging Corporation of America from a “sell” rating to a “hold” rating in a report on Tuesday, July 11th. BidaskClub downgraded shares of Packaging Corporation of America from a “strong-buy” rating to a “buy” rating in a report on Wednesday, July 19th. KeyCorp assumed coverage on shares of Packaging Corporation of America in a report on Thursday, July 6th. They issued a “sector weight” rating for the company. 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 company from $105.00 to $111.00 in a report on Thursday, July 13th. Seven research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Packaging Corporation of America currently has a consensus rating of “Buy” and a consensus price target of $102.73.

Packaging Corporation 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.

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Institutional Ownership by Quarter for Packaging Corporation of America (NYSE:PKG)

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