Private Advisor Group LLC lessened its holdings in Packaging Corporation of America (NYSE:PKG) by 85.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 4,219 shares of the industrial products company’s stock after selling 24,367 shares during the quarter. Private Advisor Group LLC’s holdings in Packaging Corporation of America were worth $474,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of PKG. Canada Pension Plan Investment Board boosted its holdings in Packaging Corporation of America by 4,143.8% in the first quarter. Canada Pension Plan Investment Board now owns 33,950 shares of the industrial products company’s stock worth $3,110,000 after acquiring an additional 33,150 shares in the last quarter. World Asset Management Inc boosted its holdings in Packaging Corporation of America by 15.2% in the first quarter. World Asset Management Inc now owns 7,054 shares of the industrial products company’s stock worth $646,000 after acquiring an additional 931 shares in the last quarter. UBS Asset Management Americas Inc. boosted its holdings in Packaging Corporation of America by 26.9% in the first quarter. UBS Asset Management Americas Inc. now owns 261,484 shares of the industrial products company’s stock worth $23,957,000 after acquiring an additional 55,475 shares in the last quarter. Karp Capital Management Corp acquired a new stake in Packaging Corporation of America in the first quarter worth about $1,959,000. Finally, Sei Investments Co. boosted its holdings in Packaging Corporation of America by 164.2% in the first quarter. Sei Investments Co. now owns 66,538 shares of the industrial products company’s stock worth $6,097,000 after acquiring an additional 41,358 shares in the last quarter. 88.59% of the stock is owned by institutional investors and hedge funds.

In other Packaging Corporation of America news, VP Thomas A. Hassfurther sold 6,000 shares of the stock in a transaction that occurred on Tuesday, September 12th. The stock was sold at an average price of $117.94, for a total transaction of $707,640.00. Following the completion of the sale, the vice president now directly owns 155,071 shares of the company’s stock, valued at approximately $18,289,073.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.20% of the stock is currently owned by company insiders.

Shares of Packaging Corporation of America (NYSE:PKG) opened at 115.88 on Friday. Packaging Corporation of America has a 12-month low of $78.03 and a 12-month high of $118.97. The firm has a market cap of $10.85 billion, a P/E ratio of 22.33 and a beta of 1.86. The company’s 50 day moving average price is $110.99 and its 200-day moving average price is $103.15.

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

The business 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 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 payout ratio is 48.56%.

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Several brokerages have weighed in on PKG. BMO Capital Markets reissued a “buy” rating and issued a $118.00 price target on shares of Packaging Corporation of America in a report on Friday, August 4th. Jefferies Group LLC set a $114.00 price target on Packaging Corporation of America and gave the stock a “buy” rating in a report on Thursday, June 1st. BidaskClub raised Packaging Corporation of America from a “hold” rating to a “buy” rating in a report on Wednesday, August 2nd. KeyCorp began coverage on Packaging Corporation of America in a report on Thursday, July 6th. They issued a “sector weight” rating for the company. Finally, Zacks Investment Research raised Packaging Corporation of America from a “sell” rating to a “hold” rating in a report on Tuesday, July 11th. Seven investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $107.90.

About Packaging Corporation of America

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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