Pacer Advisors Inc. cut its holdings in shares of Packaging Corp Of America (NYSE:PKG) by 85.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,072 shares of the industrial products company’s stock after selling 11,919 shares during the period. Pacer Advisors Inc.’s holdings in Packaging Corp Of America were worth $238,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of PKG. Toronto Dominion Bank grew its position in shares of Packaging Corp Of America by 12.4% during the 2nd quarter. Toronto Dominion Bank now owns 1,158 shares of the industrial products company’s stock valued at $129,000 after acquiring an additional 128 shares during the period. Northwestern Mutual Wealth Management Co. grew its position in shares of Packaging Corp Of America by 84.6% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,451 shares of the industrial products company’s stock valued at $161,000 after acquiring an additional 665 shares during the period. Creative Planning grew its position in shares of Packaging Corp Of America by 7.9% during the 2nd quarter. Creative Planning now owns 1,686 shares of the industrial products company’s stock valued at $188,000 after acquiring an additional 123 shares during the period. Perpetual Ltd bought a new position in shares of Packaging Corp Of America during the 2nd quarter valued at approximately $201,000. Finally, CAPROCK Group Inc. bought a new position in shares of Packaging Corp Of America during the 2nd quarter valued at approximately $211,000. 90.24% of the stock is owned by institutional investors and hedge funds.

Packaging Corp Of America (NYSE PKG) traded up $1.51 during midday trading on Tuesday, reaching $118.91. 885,500 shares of the company’s stock traded hands, compared to its average volume of 890,933. Packaging Corp Of America has a fifty-two week low of $84.01 and a fifty-two week high of $120.75. The company has a quick ratio of 1.49, a current ratio of 2.45 and a debt-to-equity ratio of 1.30. The stock has a market cap of $11,140.00, a PE ratio of 20.60, a PEG ratio of 2.35 and a beta of 1.81.

Packaging Corp Of America (NYSE:PKG) last posted its earnings results on Wednesday, October 25th. The industrial products company reported $1.68 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.69 by ($0.01). Packaging Corp Of America had a return on equity of 29.38% and a net margin of 8.18%. The firm had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.64 billion. During the same quarter in the prior year, the company earned $1.30 earnings per share. The business’s revenue for the quarter was up 10.5% compared to the same quarter last year. analysts forecast that Packaging Corp Of America will post 5.99 EPS for the current fiscal year.

A number of research firms have recently weighed in on PKG. BMO Capital Markets reissued an “outperform” rating and set a $122.00 target price (up from $118.00) on shares of Packaging Corp Of America in a research report on Tuesday, August 22nd. Jefferies Group restated a “buy” rating and set a $128.00 price target on shares of Packaging Corp Of America in a research note on Friday, August 18th. Barclays upped their price target on shares of Packaging Corp Of America from $108.00 to $110.00 and gave the company an “equal weight” rating in a research note on Monday, October 30th. Vertical Research restated a “buy” rating and set a $124.00 price target (up from $118.00) on shares of Packaging Corp Of America in a research note on Wednesday, August 23rd. Finally, KeyCorp restated a “hold” rating on shares of Packaging Corp Of America in a research note on Sunday, October 29th. Eight research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Packaging Corp Of America has an average rating of “Hold” and a consensus price target of $117.36.

In other news, SVP Thomas W.H. Walton sold 6,027 shares of the firm’s stock in a transaction on Thursday, November 2nd. The shares were sold at an average price of $116.15, for a total transaction of $700,036.05. Following the sale, the senior vice president now owns 32,690 shares in the company, valued at approximately $3,796,943.50. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Thomas A. Hassfurther sold 6,000 shares of the firm’s stock in a transaction on Tuesday, September 12th. The shares were sold at an average price of $117.94, for a total transaction of $707,640.00. Following the sale, the vice president now owns 155,071 shares in the company, valued at approximately $18,289,073.74. The disclosure for this sale can be found here. Insiders sold a total of 73,177 shares of company stock worth $2,135,172 over the last quarter. Corporate insiders own 1.20% of the company’s stock.

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About Packaging Corp Of America

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.

Institutional Ownership by Quarter for Packaging Corp Of America (NYSE:PKG)

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