Virginia Retirement Systems ET AL continued to hold its position in shares of Packaging Corporation of America (NYSE:PKG) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 51,100 shares of the industrial products company’s stock at the end of the second quarter. Virginia Retirement Systems ET AL owned 0.05% of Packaging Corporation of America worth $5,692,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of PKG. First Manhattan Co. boosted its position in shares of Packaging Corporation of America by 0.4% in the first quarter. First Manhattan Co. now owns 5,550 shares of the industrial products company’s stock worth $450,000 after buying an additional 21 shares during the last quarter. Advisor Partners LLC boosted its position in shares of Packaging Corporation of America by 1.2% in the second quarter. Advisor Partners LLC now owns 3,170 shares of the industrial products company’s stock worth $353,000 after buying an additional 39 shares during the last quarter. Somerset Trust Co boosted its position in shares of Packaging Corporation of America by 0.4% in the second quarter. Somerset Trust Co now owns 12,154 shares of the industrial products company’s stock worth $1,353,000 after buying an additional 51 shares during the last quarter. Capital Innovations LLC boosted its position in shares of Packaging Corporation of America by 1.8% in the first quarter. Capital Innovations LLC now owns 3,479 shares of the industrial products company’s stock worth $319,000 after buying an additional 60 shares during the last quarter. Finally, Mn Services Vermogensbeheer B.V. boosted its position in shares of Packaging Corporation of America by 3.8% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 2,513 shares of the industrial products company’s stock worth $215,000 after buying an additional 91 shares during the last quarter. 88.92% of the stock is owned by institutional investors and hedge funds.

Packaging Corporation of America (PKG) opened at 110.36 on Friday. Packaging Corporation of America has a 12 month low of $77.77 and a 12 month high of $114.31. The company has a market capitalization of $10.34 billion, a price-to-earnings ratio of 21.26 and a beta of 1.86. The firm has a 50-day moving average price of $110.10 and a 200-day moving average price of $101.28.

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, topping analysts’ consensus estimates of $1.47 by $0.05. The company had revenue of $1.58 billion for the quarter, compared to analysts’ expectations of $1.56 billion. Packaging Corporation of America had a net margin of 8.05% and a return on equity of 27.78%. The firm’s revenue was up 11.8% compared to the same quarter last year. During the same quarter last year, the company earned $1.25 EPS. On average, equities analysts anticipate that Packaging Corporation of America will post $6.02 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 13th. Investors of record on Friday, September 15th will be given a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a yield of 2.28%. Packaging Corporation of America’s payout ratio is presently 48.56%.

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A number of brokerages have recently issued reports on PKG. Barclays PLC dropped their target price on Packaging Corporation of America from $100.00 to $90.00 and set an “equal weight” rating for the company in a report on Monday, May 1st. ValuEngine cut Packaging Corporation of America from a “buy” rating to a “hold” rating in a report on Thursday, May 11th. Jefferies Group LLC reaffirmed a “buy” rating and set a $128.00 price target on shares of Packaging Corporation of America in a report on Friday, August 18th. BMO Capital Markets reaffirmed an “outperform” rating and set a $122.00 price target (up from $118.00) on shares of Packaging Corporation of America in a report on Tuesday, August 22nd. Finally, Zacks Investment Research raised Packaging Corporation of America from a “sell” rating to a “hold” rating in a report on Tuesday, July 11th. Seven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Packaging Corporation of America currently has a consensus rating of “Buy” and an average price target of $104.83.

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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