Chicago Partners Investment Group LLC increased its position in shares of Packaging Corp Of America (NYSE:PKG) by 100.0% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,800 shares of the industrial products company’s stock after purchasing an additional 1,400 shares during the quarter. Chicago Partners Investment Group LLC’s holdings in Packaging Corp Of America were worth $250,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the stock. Icon Advisers Inc. Co. acquired a new stake in shares of Packaging Corp Of America during the 3rd quarter worth about $1,185,000. Gulf International Bank UK Ltd increased its position in shares of Packaging Corp Of America by 8.4% during the 3rd quarter. Gulf International Bank UK Ltd now owns 30,995 shares of the industrial products company’s stock worth $3,399,000 after purchasing an additional 2,400 shares in the last quarter. Gabelli Funds LLC increased its position in shares of Packaging Corp Of America by 25.0% during the 3rd quarter. Gabelli Funds LLC now owns 5,000 shares of the industrial products company’s stock worth $548,000 after purchasing an additional 1,000 shares in the last quarter. Usca Ria LLC increased its position in shares of Packaging Corp Of America by 11.1% during the 3rd quarter. Usca Ria LLC now owns 35,824 shares of the industrial products company’s stock worth $3,930,000 after purchasing an additional 3,567 shares in the last quarter. Finally, WESPAC Advisors LLC increased its position in shares of Packaging Corp Of America by 48.9% during the 3rd quarter. WESPAC Advisors LLC now owns 21,805 shares of the industrial products company’s stock worth $2,392,000 after purchasing an additional 7,157 shares in the last quarter. Institutional investors and hedge funds own 86.73% of the company’s stock.

PKG has been the subject of a number of recent analyst reports. ValuEngine cut shares of Packaging Corp Of America from a “hold” rating to a “sell” rating in a research report on Sunday, August 26th. Zacks Investment Research cut shares of Packaging Corp Of America from a “hold” rating to a “sell” rating in a research report on Wednesday, September 26th. Seaport Global Securities assumed coverage on shares of Packaging Corp Of America in a research report on Tuesday, October 23rd. They issued a “buy” rating and a $112.00 price objective for the company. Wells Fargo & Co lowered their price objective on shares of Packaging Corp Of America from $140.00 to $110.00 and set an “outperform” rating for the company in a research report on Friday, October 26th. Finally, KeyCorp restated a “hold” rating on shares of Packaging Corp Of America in a research report on Thursday, October 25th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $116.91.

PKG opened at $96.00 on Friday. The company has a quick ratio of 1.67, a current ratio of 2.73 and a debt-to-equity ratio of 1.05. The stock has a market capitalization of $9.13 billion, a price-to-earnings ratio of 15.95, a P/E/G ratio of 1.45 and a beta of 1.82. Packaging Corp Of America has a 1-year low of $83.54 and a 1-year high of $131.13.

Packaging Corp Of America (NYSE:PKG) last posted its quarterly earnings data on Wednesday, October 24th. The industrial products company reported $2.23 earnings per share for the quarter, beating the consensus estimate of $2.15 by $0.08. The firm had revenue of $1.81 billion during the quarter, compared to analysts’ expectations of $1.76 billion. Packaging Corp Of America had a net margin of 11.54% and a return on equity of 30.77%. As a group, equities research analysts forecast that Packaging Corp Of America will post 8.01 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, October 15th. Shareholders of record on Friday, September 14th were given a $0.79 dividend. This represents a $3.16 annualized dividend and a yield of 3.29%. The ex-dividend date of this dividend was Thursday, September 13th. Packaging Corp Of America’s payout ratio is presently 52.49%.

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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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