Packaging Corp Of America (PKG) Holdings Cut by Virginia Retirement Systems ET AL

Virginia Retirement Systems ET AL lowered its stake in shares of Packaging Corp Of America (NYSE:PKG) by 5.3% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 48,300 shares of the industrial products company’s stock after selling 2,700 shares during the period. Virginia Retirement Systems ET AL’s holdings in Packaging Corp Of America were worth $5,399,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of PKG. Nisa Investment Advisors LLC lifted its holdings in shares of Packaging Corp Of America by 8.6% during the 2nd quarter. Nisa Investment Advisors LLC now owns 40,325 shares of the industrial products company’s stock valued at $4,508,000 after purchasing an additional 3,200 shares in the last quarter. Daiwa Securities Group Inc. lifted its holdings in shares of Packaging Corp Of America by 0.9% during the 2nd quarter. Daiwa Securities Group Inc. now owns 60,038 shares of the industrial products company’s stock valued at $6,712,000 after purchasing an additional 559 shares in the last quarter. Banco de Sabadell S.A lifted its holdings in shares of Packaging Corp Of America by 23.2% during the 1st quarter. Banco de Sabadell S.A now owns 24,077 shares of the industrial products company’s stock valued at $2,711,000 after purchasing an additional 4,532 shares in the last quarter. Toronto Dominion Bank lifted its holdings in shares of Packaging Corp Of America by 25.1% during the 1st quarter. Toronto Dominion Bank now owns 50,861 shares of the industrial products company’s stock valued at $5,731,000 after purchasing an additional 10,219 shares in the last quarter. Finally, Franklin Resources Inc. lifted its holdings in shares of Packaging Corp Of America by 18.8% during the 1st quarter. Franklin Resources Inc. now owns 207,347 shares of the industrial products company’s stock valued at $23,368,000 after purchasing an additional 32,782 shares in the last quarter. Hedge funds and other institutional investors own 86.53% of the company’s stock.

Several equities analysts have recently weighed in on PKG shares. KeyCorp reiterated a “hold” rating on shares of Packaging Corp Of America in a report on Wednesday, April 25th. ValuEngine cut Packaging Corp Of America from a “hold” rating to a “sell” rating in a report on Monday, July 2nd. Citigroup cut their price objective on Packaging Corp Of America from $128.00 to $121.00 and set a “neutral” rating on the stock in a report on Tuesday, July 10th. Stephens reiterated a “buy” rating on shares of Packaging Corp Of America in a report on Thursday, July 5th. Finally, Wells Fargo & Co cut 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 report on Friday, July 27th. Seven analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $129.45.

In other Packaging Corp Of America news, Director Paul T. Stecko sold 566 shares of the business’s stock in a transaction that occurred on Tuesday, June 5th. The stock was sold at an average price of $120.94, for a total transaction of $68,452.04. Following the transaction, the director now owns 69,077 shares of the company’s stock, valued at approximately $8,354,172.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.30% of the stock is currently owned by company insiders.

Shares of Packaging Corp Of America opened at $110.56 on Monday, Marketbeat reports. Packaging Corp Of America has a 52-week low of $106.49 and a 52-week high of $131.13. The company has a market capitalization of $10.45 billion, a P/E ratio of 18.37, a PEG ratio of 1.67 and a beta of 1.79. The company has a current ratio of 2.73, a quick ratio of 1.58 and a debt-to-equity ratio of 1.05.

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 (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.97 by $0.11. Packaging Corp Of America had a return on equity of 28.48% and a net margin of 10.83%. The business had revenue of $1.77 billion for the quarter, compared to analyst estimates of $1.72 billion. During the same quarter last year, the firm earned $1.52 EPS. Packaging Corp Of America’s revenue for the quarter was up 11.6% compared to the same quarter last year. research analysts forecast that Packaging Corp Of America will post 7.94 earnings per share for the current year.

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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