Packaging Corp Of America (NYSE:PKG) Shares Acquired by Northern Trust Corp

Northern Trust Corp raised its holdings in shares of Packaging Corp Of America (NYSE:PKG) by 1.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,156,486 shares of the industrial products company’s stock after acquiring an additional 18,600 shares during the period. Northern Trust Corp’s holdings in Packaging Corp Of America were worth $110,237,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Parallel Advisors LLC lifted its stake in shares of Packaging Corp Of America by 774.2% in the 2nd quarter. Parallel Advisors LLC now owns 271 shares of the industrial products company’s stock valued at $26,000 after purchasing an additional 240 shares during the period. Citizens Financial Group Inc RI acquired a new position in shares of Packaging Corp Of America in the 1st quarter valued at $32,000. Steward Partners Investment Advisory LLC acquired a new position in shares of Packaging Corp Of America in the 2nd quarter valued at $35,000. Motco lifted its stake in shares of Packaging Corp Of America by 126.3% in the 2nd quarter. Motco now owns 405 shares of the industrial products company’s stock valued at $39,000 after purchasing an additional 226 shares during the period. Finally, First Mercantile Trust Co. acquired a new position in shares of Packaging Corp Of America in the 2nd quarter valued at $40,000. Institutional investors and hedge funds own 88.27% of the company’s stock.

Shares of Packaging Corp Of America stock traded up $1.73 during trading hours on Friday, reaching $108.76. 26,544 shares of the company’s stock were exchanged, compared to its average volume of 678,640. Packaging Corp Of America has a 1 year low of $77.90 and a 1 year high of $118.88. The company has a market capitalization of $10.28 billion, a P/E ratio of 13.60, a price-to-earnings-growth ratio of 2.71 and a beta of 1.71. The business has a fifty day moving average of $100.81 and a two-hundred day moving average of $98.10. The company has a quick ratio of 2.18, a current ratio of 3.29 and a debt-to-equity ratio of 0.92.

Packaging Corp Of America (NYSE:PKG) last released its earnings results on Wednesday, July 24th. The industrial products company reported $2.04 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $2.04. Packaging Corp Of America had a net margin of 11.23% and a return on equity of 29.23%. The business had revenue of $1.76 billion during the quarter, compared to analyst estimates of $1.78 billion. During the same quarter in the prior year, the firm earned $2.08 earnings per share. The company’s revenue for the quarter was down .4% compared to the same quarter last year. As a group, research analysts predict that Packaging Corp Of America will post 7.7 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Friday, September 13th will be issued a dividend of $0.79 per share. This represents a $3.16 dividend on an annualized basis and a dividend yield of 2.91%. The ex-dividend date is Thursday, September 12th. Packaging Corp Of America’s payout ratio is 39.35%.

In other news, SVP Thomas W.H. Walton sold 6,000 shares of the company’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $100.17, for a total transaction of $601,020.00. Following the completion of the sale, the senior vice president now owns 34,118 shares of the company’s stock, valued at $3,417,600.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Donald R. Shirley sold 5,000 shares of the company’s stock in a transaction on Friday, July 26th. The stock was sold at an average price of $101.48, for a total transaction of $507,400.00. Following the sale, the senior vice president now directly owns 12,790 shares of the company’s stock, valued at approximately $1,297,929.20. The disclosure for this sale can be found here. 1.20% of the stock is owned by corporate insiders.

Several equities analysts recently issued reports on PKG shares. KeyCorp cut shares of Packaging Corp Of America from a “sector weight” rating to an “underweight” rating and set a $89.00 target price for the company. in a research note on Monday, July 15th. UBS Group set a $106.00 price target on shares of Packaging Corp Of America and gave the stock a “buy” rating in a report on Monday, June 24th. ValuEngine raised shares of Packaging Corp Of America from a “hold” rating to a “buy” rating in a report on Tuesday, August 6th. Finally, Seaport Global Securities lowered shares of Packaging Corp Of America from a “buy” rating to a “neutral” rating and set a $98.02 price target for the company. in a report on Friday, July 12th. They noted that the move was a valuation call. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the stock. Packaging Corp Of America currently has an average rating of “Hold” and an average price target of $100.09.

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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