Victory Capital Management Inc. raised its position in Packaging Corporation of America (NYSE:PKG) by 21.3% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 16,740 shares of the industrial products company’s stock after purchasing an additional 2,939 shares during the period. Victory Capital Management Inc.’s holdings in Packaging Corporation of America were worth $1,865,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Advisor Partners LLC raised its position in shares of Packaging Corporation of America by 1.2% during the 2nd quarter. Advisor Partners LLC now owns 3,170 shares of the industrial products company’s stock valued at $353,000 after buying an additional 39 shares in the last quarter. Somerset Trust Co raised its position in shares of Packaging Corporation of America by 0.4% during the 2nd quarter. Somerset Trust Co now owns 12,154 shares of the industrial products company’s stock valued at $1,353,000 after buying an additional 51 shares in the last quarter. Capital Innovations LLC raised its position in shares of Packaging Corporation of America by 1.8% during the 1st quarter. Capital Innovations LLC now owns 3,479 shares of the industrial products company’s stock valued at $319,000 after buying an additional 60 shares in the last quarter. Coldstream Capital Management Inc. raised its position in shares of Packaging Corporation of America by 3.8% during the 1st quarter. Coldstream Capital Management Inc. now owns 2,623 shares of the industrial products company’s stock valued at $240,000 after buying an additional 96 shares in the last quarter. Finally, HighVista Strategies LLC raised its position in shares of Packaging Corporation of America by 2.6% during the 1st quarter. HighVista Strategies LLC now owns 3,900 shares of the industrial products company’s stock valued at $357,000 after buying an additional 100 shares in the last quarter. 88.59% of the stock is owned by hedge funds and other institutional investors.

PKG has been the topic of several research reports. Jefferies Group LLC restated a “buy” rating and set a $128.00 price objective on shares of Packaging Corporation of America in a research report on Friday, August 18th. BMO Capital Markets restated a “buy” rating and set a $118.00 price objective on shares of Packaging Corporation of America in a research report on Friday, August 4th. BidaskClub upgraded shares of Packaging Corporation of America from a “hold” rating to a “buy” rating in a research report on Wednesday, August 2nd. ValuEngine upgraded shares of Packaging Corporation of America from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. Finally, Vertical Research restated a “buy” rating and set a $124.00 price objective (up previously from $118.00) on shares of Packaging Corporation of America in a research report on Wednesday, August 23rd. Seven investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Packaging Corporation of America presently has an average rating of “Hold” and a consensus target price of $107.90.

Packaging Corporation of America (PKG) opened at 113.79 on Monday. The company has a 50-day moving average of $109.93 and a 200-day moving average of $102.35. The stock has a market cap of $10.66 billion, a PE ratio of 21.92 and a beta of 1.86. Packaging Corporation of America has a 12 month low of $78.03 and a 12 month high of $114.44.

Packaging Corporation of America (NYSE:PKG) last issued its earnings results on Wednesday, July 26th. The industrial products company reported $1.52 earnings per share for the quarter, topping the Zacks’ 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 firm 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. Packaging Corporation of America’s revenue for the quarter was up 11.8% on a year-over-year basis. On average, equities analysts forecast that Packaging Corporation of America will post $6.02 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 13th. Shareholders of record on Friday, September 15th will be given a dividend of $0.63 per share. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $2.52 annualized dividend and a yield of 2.21%. Packaging Corporation of America’s dividend payout ratio (DPR) is currently 48.56%.

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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.

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

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