Texas Permanent School Fund lowered its stake in Packaging Corp Of America (NYSE:PKG) by 3.2% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 17,633 shares of the industrial products company’s stock after selling 590 shares during the period. Texas Permanent School Fund’s holdings in Packaging Corp Of America were worth $1,871,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Vanguard Group Inc. grew its stake in Packaging Corp Of America by 3.7% in the 2nd quarter. Vanguard Group Inc. now owns 10,881,673 shares of the industrial products company’s stock valued at $1,037,241,000 after buying an additional 389,241 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in Packaging Corp Of America by 81.9% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 3,972,606 shares of the industrial products company’s stock valued at $378,669,000 after buying an additional 1,788,655 shares during the last quarter. JPMorgan Chase & Co. grew its stake in Packaging Corp Of America by 21.2% in the 2nd quarter. JPMorgan Chase & Co. now owns 2,611,939 shares of the industrial products company’s stock valued at $245,418,000 after buying an additional 456,865 shares during the last quarter. Nuveen Asset Management LLC grew its stake in Packaging Corp Of America by 92,222.0% in the 2nd quarter. Nuveen Asset Management LLC now owns 2,152,948 shares of the industrial products company’s stock valued at $205,219,000 after buying an additional 2,150,616 shares during the last quarter. Finally, Victory Capital Management Inc. grew its stake in Packaging Corp Of America by 8.7% in the 2nd quarter. Victory Capital Management Inc. now owns 1,342,036 shares of the industrial products company’s stock valued at $127,922,000 after buying an additional 107,680 shares during the last quarter. Institutional investors and hedge funds own 88.16% of the company’s stock.

A number of research analysts recently commented on PKG shares. KeyCorp reiterated a “sell” rating and issued a $89.00 price target on shares of Packaging Corp Of America in a research note on Thursday, October 24th. ValuEngine lowered shares of Packaging Corp Of America from a “buy” rating to a “hold” rating in a research note on Monday, October 7th. Bank of America increased their target price on shares of Packaging Corp Of America from $108.00 to $112.00 and gave the stock a “neutral” rating in a research report on Thursday, October 24th. Zacks Investment Research lowered shares of Packaging Corp Of America from a “hold” rating to a “sell” rating and set a $116.00 target price on the stock. in a research report on Monday, October 14th. Finally, Argus set a $118.00 target price on shares of Packaging Corp Of America and gave the stock a “buy” rating in a research report on Friday, October 25th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the company’s stock. Packaging Corp Of America has a consensus rating of “Hold” and a consensus target price of $105.45.

Shares of NYSE:PKG opened at $113.90 on Friday. The company’s 50 day moving average price is $107.43 and its two-hundred day moving average price is $100.52. Packaging Corp Of America has a 12-month low of $77.90 and a 12-month high of $113.95. The firm has a market cap of $10.72 billion, a PE ratio of 14.18, a PEG ratio of 2.95 and a beta of 1.69. The company has a quick ratio of 2.18, a current ratio of 3.28 and a debt-to-equity ratio of 0.88.

Packaging Corp Of America (NYSE:PKG) last announced its earnings results on Wednesday, October 23rd. The industrial products company reported $1.92 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.90 by $0.02. Packaging Corp Of America had a net margin of 10.94% and a return on equity of 26.92%. The firm had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.79 billion. During the same quarter in the prior year, the business posted $2.23 EPS. The business’s revenue was down 3.3% compared to the same quarter last year. On average, research analysts expect that Packaging Corp Of America will post 7.67 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Friday, September 13th were given a dividend of $0.79 per share. The ex-dividend date of this dividend was Thursday, September 12th. This represents a $3.16 dividend on an annualized basis and a dividend yield of 2.77%. Packaging Corp Of America’s payout ratio is presently 39.35%.

Packaging Corp Of America Company 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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