Packaging Corp Of America (PKG) Shares Bought by Toronto Dominion Bank

Toronto Dominion Bank raised its stake in Packaging Corp Of America (NYSE:PKG) by 1.2% during the third quarter, HoldingsChannel reports. The institutional investor owned 61,402 shares of the industrial products company’s stock after buying an additional 751 shares during the period. Toronto Dominion Bank’s holdings in Packaging Corp Of America were worth $6,733,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of PKG. Bessemer Group Inc. bought a new position in shares of Packaging Corp Of America during the third quarter valued at $122,000. Itau Unibanco Holding S.A. bought a new position in shares of Packaging Corp Of America during the second quarter valued at $125,000. Acadian Asset Management LLC bought a new position in shares of Packaging Corp Of America during the second quarter valued at $155,000. Flagship Harbor Advisors LLC bought a new position in shares of Packaging Corp Of America during the second quarter valued at $165,000. Finally, Qube Research & Technologies Ltd bought a new position in shares of Packaging Corp Of America during the second quarter valued at $220,000. Hedge funds and other institutional investors own 87.45% of the company’s stock.

Several equities analysts have recently issued reports on PKG shares. ValuEngine downgraded shares of Packaging Corp Of America from a “hold” rating to a “sell” rating in a research note on Sunday, August 26th. Seaport Global Securities assumed coverage on shares of Packaging Corp Of America in a research note on Tuesday, October 23rd. They set a “buy” rating and a $112.00 target price for the company. Zacks Investment Research downgraded shares of Packaging Corp Of America from a “hold” rating to a “sell” rating in a research note on Wednesday, September 26th. Wells Fargo & Co lowered their target price on shares of Packaging Corp Of America from $140.00 to $110.00 and set an “outperform” rating for the company in a research note on Friday, October 26th. Finally, KeyCorp reissued a “hold” rating on shares of Packaging Corp Of America in a research note on Thursday, October 25th. Two 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 stock presently has an average rating of “Hold” and a consensus target price of $116.91.

Shares of NYSE PKG opened at $95.60 on Friday. Packaging Corp Of America has a twelve month low of $83.54 and a twelve month high of $131.13. The firm has a market cap of $9.05 billion, a P/E ratio of 15.88, a PEG ratio of 1.43 and a beta of 1.82. The company has a quick ratio of 1.74, a current ratio of 2.76 and a debt-to-equity ratio of 0.99.

Packaging Corp Of America (NYSE:PKG) last announced its earnings results on Wednesday, October 24th. The industrial products company reported $2.23 earnings per share for the quarter, topping analysts’ consensus estimates of $2.15 by $0.08. Packaging Corp Of America had a net margin of 11.54% and a return on equity of 29.96%. The business had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.76 billion. On average, research analysts predict that Packaging Corp Of America will post 8.03 EPS for the current fiscal year.

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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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