Teacher Retirement System of Texas cut its position in Packaging Corporation of America (NYSE:PKG) by 1.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 262,692 shares of the industrial products company’s stock after selling 3,506 shares during the period. Teacher Retirement System of Texas owned about 0.28% of Packaging Corporation of America worth $29,261,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. BlackRock Inc. raised its stake in shares of Packaging Corporation of America by 8,719.3% in the first quarter. BlackRock Inc. now owns 13,344,341 shares of the industrial products company’s stock worth $1,222,607,000 after buying an additional 13,193,032 shares during the period. Iridian Asset Management LLC CT raised its stake in shares of Packaging Corporation of America by 2,657.5% in the first quarter. Iridian Asset Management LLC CT now owns 1,378,725 shares of the industrial products company’s stock worth $126,319,000 after buying an additional 1,328,725 shares during the period. Vanguard Group Inc. raised its stake in shares of Packaging Corporation of America by 5.7% in the first quarter. Vanguard Group Inc. now owns 8,238,908 shares of the industrial products company’s stock worth $754,848,000 after buying an additional 445,345 shares during the period. Point72 Asset Management L.P. bought a new stake in shares of Packaging Corporation of America during the first quarter worth about $35,656,000. Finally, Bank of New York Mellon Corp raised its stake in shares of Packaging Corporation of America by 8.6% in the first quarter. Bank of New York Mellon Corp now owns 4,035,040 shares of the industrial products company’s stock worth $369,689,000 after buying an additional 318,194 shares during the period. Institutional investors and hedge funds own 88.25% of the company’s stock.

Shares of Packaging Corporation of America (NYSE:PKG) opened at 107.52 on Friday. Packaging Corporation of America has a 1-year low of $74.95 and a 1-year high of $114.31. The company has a market cap of $10.07 billion, a price-to-earnings ratio of 20.72 and a beta of 1.86. The firm’s 50-day moving average is $110.57 and its 200 day moving average is $100.12.

Packaging Corporation of America (NYSE:PKG) last issued its earnings results on Wednesday, July 26th. The industrial products company reported $1.52 EPS for the quarter, beating analysts’ consensus estimates of $1.47 by $0.05. The business had revenue of $1.58 billion during the quarter, compared to analyst estimates of $1.56 billion. Packaging Corporation of America had a return on equity of 27.78% and a net margin of 8.05%. Packaging Corporation of America’s revenue was up 11.8% on a year-over-year basis. During the same period in the prior year, the company posted $1.25 earnings per share. Equities analysts expect that Packaging Corporation of America will post $6.00 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, July 14th. Investors of record on Thursday, June 15th were paid a $0.63 dividend. The ex-dividend date of this dividend was Tuesday, June 13th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.34%. Packaging Corporation of America’s payout ratio is 48.56%.

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PKG has been the subject of a number of research analyst reports. Citigroup Inc. lifted their price target on shares of Packaging Corporation of America from $106.00 to $112.00 and gave the stock a “neutral” rating in a research note on Friday, April 14th. BMO Capital Markets restated a “buy” rating and issued a $104.00 price target (up previously from $100.00) on shares of Packaging Corporation of America in a research note on Monday, May 1st. Deutsche Bank AG lifted their price target on shares of Packaging Corporation of America from $91.00 to $94.00 and gave the stock a “hold” rating in a research note on Tuesday, April 25th. ValuEngine upgraded shares of Packaging Corporation of America from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. Finally, BidaskClub lowered shares of Packaging Corporation of America from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, July 19th. Seven analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Packaging Corporation of America presently has an average rating of “Buy” and a consensus price target of $102.73.

Packaging Corporation of America Company Profile

Packaging Corporation of America (PCA) is a producer of containerboard products and uncoated freesheet. The Company operates through three segments: Packaging, Paper, and Corporate and Other. The Packaging segment produces a range of corrugated packaging products. The Paper segment manufactures and sells a range of papers, including communication-based papers and pressure sensitive papers.

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Institutional Ownership by Quarter for Packaging Corporation of America (NYSE:PKG)

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