Pacer Advisors Inc. Reduces Stock Position in Packaging Corp Of America (NYSE:PKG)

Pacer Advisors Inc. lowered its holdings in shares of Packaging Corp Of America (NYSE:PKG) by 2.4% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 21,488 shares of the industrial products company’s stock after selling 525 shares during the quarter. Pacer Advisors Inc.’s holdings in Packaging Corp Of America were worth $2,145,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Guggenheim Capital LLC raised its position in Packaging Corp Of America by 35.2% during the 1st quarter. Guggenheim Capital LLC now owns 69,875 shares of the industrial products company’s stock valued at $6,067,000 after purchasing an additional 18,189 shares in the last quarter. Canada Pension Plan Investment Board grew its stake in Packaging Corp Of America by 38.9% during the 1st quarter. Canada Pension Plan Investment Board now owns 13,201 shares of the industrial products company’s stock valued at $1,146,000 after purchasing an additional 3,697 shares during the last quarter. Northwestern Mutual Investment Management Company LLC grew its stake in Packaging Corp Of America by 34.7% during the 1st quarter. Northwestern Mutual Investment Management Company LLC now owns 4,953 shares of the industrial products company’s stock valued at $430,000 after purchasing an additional 1,276 shares during the last quarter. BBVA USA Bancshares Inc. grew its stake in Packaging Corp Of America by 3.7% during the 2nd quarter. BBVA USA Bancshares Inc. now owns 13,152 shares of the industrial products company’s stock valued at $1,312,000 after purchasing an additional 469 shares during the last quarter. Finally, Ziegler Capital Management LLC grew its stake in Packaging Corp Of America by 497.3% during the 2nd quarter. Ziegler Capital Management LLC now owns 21,516 shares of the industrial products company’s stock valued at $2,147,000 after purchasing an additional 17,914 shares during the last quarter. Institutional investors own 89.12% of the company’s stock.

Shares of Packaging Corp Of America stock opened at $96.12 on Friday. The business has a 50 day simple moving average of $100.01 and a two-hundred day simple moving average of $96.33. Packaging Corp Of America has a 12 month low of $71.05 and a 12 month high of $114.78. The stock has a market capitalization of $9.12 billion, a P/E ratio of 14.76, a PEG ratio of 3.68 and a beta of 1.26. The company has a debt-to-equity ratio of 0.85, a current ratio of 3.51 and a quick ratio of 2.42.

Packaging Corp Of America (NYSE:PKG) last announced its earnings results on Tuesday, July 28th. The industrial products company reported $1.38 EPS for the quarter, beating analysts’ consensus estimates of $1.27 by $0.11. Packaging Corp Of America had a return on equity of 20.07% and a net margin of 7.65%. The business had revenue of $1.54 billion during the quarter, compared to analysts’ expectations of $1.62 billion. During the same quarter in the prior year, the firm earned $2.04 earnings per share. The business’s revenue was down 12.4% compared to the same quarter last year. As a group, research analysts anticipate that Packaging Corp Of America will post 5.19 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Monday, June 15th were issued a $0.79 dividend. The ex-dividend date of this dividend was Friday, June 12th. This represents a $3.16 annualized dividend and a dividend yield of 3.29%. Packaging Corp Of America’s dividend payout ratio is presently 41.31%.

Several analysts have weighed in on PKG shares. KeyCorp dropped their price target on Packaging Corp Of America from $89.00 to $79.00 and set an “underweight” rating on the stock in a research note on Thursday, April 9th. They noted that the move was a valuation call. Wells Fargo & Co lowered their target price on Packaging Corp Of America from $95.00 to $85.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 9th. Bank of America upgraded Packaging Corp Of America from a “neutral” rating to a “buy” rating and set a $117.00 target price on the stock in a research note on Thursday, July 16th. Seaport Global Securities restated a “neutral” rating on shares of Packaging Corp Of America in a research note on Monday, July 27th. Finally, Morgan Stanley began coverage on Packaging Corp Of America in a research note on Monday, June 15th. They issued an “equal weight” rating and a $93.00 target price on the stock. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and four have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $103.58.

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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