Voya Investment Management LLC lowered its holdings in Packaging Corp Of America (NYSE:PKG) by 24.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,510,917 shares of the industrial products company’s stock after selling 492,671 shares during the period. Voya Investment Management LLC owned about 1.60% of Packaging Corp Of America worth $168,906,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of PKG. Global X Management Co. LLC bought a new stake in shares of Packaging Corp Of America in the first quarter valued at $202,000. Mackay Shields LLC bought a new stake in shares of Packaging Corp Of America in the first quarter valued at $1,790,000. Financial Gravity Wealth Inc. bought a new stake in shares of Packaging Corp Of America in the first quarter valued at $410,000. Bailard Inc. raised its stake in shares of Packaging Corp Of America by 2.2% in the first quarter. Bailard Inc. now owns 28,034 shares of the industrial products company’s stock valued at $3,159,000 after buying an additional 599 shares during the period. Finally, Robeco Institutional Asset Management B.V. raised its stake in shares of Packaging Corp Of America by 0.3% in the first quarter. Robeco Institutional Asset Management B.V. now owns 286,862 shares of the industrial products company’s stock valued at $32,343,000 after buying an additional 885 shares during the period. Hedge funds and other institutional investors own 87.12% of the company’s stock.

Several analysts have issued reports on PKG shares. ValuEngine lowered Packaging Corp Of America from a “hold” rating to a “sell” rating in a research note on Sunday, August 26th. Zacks Investment Research upgraded Packaging Corp Of America from a “hold” rating to a “buy” rating and set a $129.00 price objective on the stock in a research note on Tuesday, June 26th. Stephens reiterated a “buy” rating on shares of Packaging Corp Of America in a research note on Thursday, July 5th. Wells Fargo & Co decreased their price objective on Packaging Corp Of America from $150.00 to $140.00 and set a “market perform” rating on the stock in a research note on Friday, July 27th. Finally, Barclays decreased their price objective on Packaging Corp Of America from $125.00 to $120.00 and set an “equal weight” rating on the stock in a research note on Monday, July 30th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $130.22.

NYSE PKG traded down $0.24 during trading on Friday, reaching $111.32. The company’s stock had a trading volume of 1,462 shares, compared to its average volume of 607,177. The firm has a market capitalization of $10.56 billion, a P/E ratio of 18.53, a P/E/G ratio of 1.69 and a beta of 1.78. The company has a quick ratio of 1.67, a current ratio of 2.73 and a debt-to-equity ratio of 1.05. Packaging Corp Of America has a one year low of $107.39 and a one year high of $131.13.

Packaging Corp Of America (NYSE:PKG) last announced its earnings results on Wednesday, July 25th. The industrial products company reported $2.08 earnings per share for the quarter, topping analysts’ consensus estimates of $1.97 by $0.11. The business had revenue of $1.77 billion for the quarter, compared to analyst estimates of $1.72 billion. Packaging Corp Of America had a return on equity of 28.48% and a net margin of 10.83%. The company’s quarterly revenue was up 11.6% compared to the same quarter last year. During the same period in the prior year, the company earned $1.52 EPS. research analysts anticipate that Packaging Corp Of America will post 7.94 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 15th. Shareholders of record on Friday, September 14th will be paid a $0.79 dividend. The ex-dividend date of this dividend is Thursday, September 13th. This represents a $3.16 dividend on an annualized basis and a yield of 2.84%. Packaging Corp Of America’s dividend payout ratio is currently 52.49%.

Packaging Corp Of America Profile

Packaging Corporation of America manufactures and sells containerboard and corrugated packaging products primarily in the United States. The company's Packaging segment offers various corrugated packaging products, such as conventional shipping containers used to protect and transport manufactured goods; multi-color boxes and displays that help to merchandise the packaged product in retail locations; and honeycomb protective packaging products.

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Institutional Ownership by Quarter for Packaging Corp Of America (NYSE:PKG)

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