Commonwealth of Pennsylvania Public School Empls Retrmt SYS Purchases New Stake in Packaging Corp Of America (PKG)

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Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new stake in shares of Packaging Corp Of America (NYSE:PKG) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 13,468 shares of the industrial products company’s stock, valued at approximately $1,506,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Victory Capital Management Inc. increased its position in shares of Packaging Corp Of America by 3.5% during the second quarter. Victory Capital Management Inc. now owns 1,634,214 shares of the industrial products company’s stock valued at $182,689,000 after acquiring an additional 54,599 shares in the last quarter. Iridian Asset Management LLC CT increased its position in shares of Packaging Corp Of America by 19.0% during the second quarter. Iridian Asset Management LLC CT now owns 1,588,384 shares of the industrial products company’s stock valued at $177,565,000 after acquiring an additional 253,520 shares in the last quarter. Santa Barbara Asset Management LLC increased its position in shares of Packaging Corp Of America by 0.7% during the first quarter. Santa Barbara Asset Management LLC now owns 1,463,915 shares of the industrial products company’s stock valued at $164,983,000 after acquiring an additional 10,744 shares in the last quarter. Neuberger Berman Group LLC increased its position in shares of Packaging Corp Of America by 15.9% during the first quarter. Neuberger Berman Group LLC now owns 1,177,332 shares of the industrial products company’s stock valued at $132,731,000 after acquiring an additional 161,370 shares in the last quarter. Finally, Millennium Management LLC increased its position in shares of Packaging Corp Of America by 76.5% during the first quarter. Millennium Management LLC now owns 1,113,306 shares of the industrial products company’s stock valued at $125,470,000 after acquiring an additional 482,533 shares in the last quarter. 86.53% of the stock is owned by institutional investors.

Several equities research analysts recently weighed in on the stock. Citigroup raised their price target on shares of Packaging Corp Of America from $121.00 to $124.00 and gave the company a “neutral” rating in a research report on Monday, July 30th. Barclays reduced their price target on shares of Packaging Corp Of America from $125.00 to $120.00 and set an “equal weight” rating for the company in a research report on Monday, July 30th. ValuEngine raised shares of Packaging Corp Of America from a “sell” rating to a “hold” rating in a research report on Wednesday, July 25th. KeyCorp reissued a “hold” rating on shares of Packaging Corp Of America in a research report on Wednesday, April 25th. Finally, Zacks Investment Research cut shares of Packaging Corp Of America from a “buy” rating to a “hold” rating in a report on Wednesday, June 27th. Seven equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $129.60.

In related news, Director Paul T. Stecko sold 566 shares of the firm’s stock in a transaction that occurred on Tuesday, June 5th. The shares were sold at an average price of $120.94, for a total value of $68,452.04. Following the sale, the director now owns 69,077 shares in the company, valued at $8,354,172.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.30% of the company’s stock.

Shares of PKG stock opened at $111.61 on Friday. Packaging Corp Of America has a 12-month low of $106.49 and a 12-month high of $131.13. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.67 and a current ratio of 2.73. The company has a market capitalization of $10.45 billion, a P/E ratio of 18.54, a P/E/G ratio of 1.67 and a beta of 1.79.

Packaging Corp Of America (NYSE:PKG) last issued its earnings results on Wednesday, July 25th. The industrial products company reported $2.08 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.97 by $0.11. Packaging Corp Of America had a net margin of 10.83% and a return on equity of 28.48%. The company had revenue of $1.77 billion for the quarter, compared to analysts’ expectations of $1.72 billion. During the same quarter last year, the company posted $1.52 earnings per share. The firm’s quarterly revenue was up 11.6% on a year-over-year basis. equities analysts predict that Packaging Corp Of America will post 7.94 EPS for the current year.

About Packaging Corp Of America

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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