Oppenheimer & Co. Inc. boosted its stake in shares of Packaging Corp. of America (NYSE:PKG) by 15.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,862 shares of the company’s stock after buying an additional 642 shares during the period. Oppenheimer & Co. Inc.’s holdings in Packaging Corp. of America were worth $325,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Prudential Financial Inc. raised its stake in shares of Packaging Corp. of America by 98.2% in the first quarter. Prudential Financial Inc. now owns 926,615 shares of the company’s stock valued at $55,967,000 after buying an additional 459,180 shares during the period. Rockshelter Capital Management LLC raised its stake in shares of Packaging Corp. of America by 33.3% in the first quarter. Rockshelter Capital Management LLC now owns 211,644 shares of the company’s stock valued at $12,900,000 after buying an additional 52,861 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Packaging Corp. of America by 326.6% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 34,747 shares of the company’s stock valued at $2,326,000 after buying an additional 26,601 shares during the period. Swiss National Bank raised its stake in shares of Packaging Corp. of America by 4.8% in the second quarter. Swiss National Bank now owns 264,300 shares of the company’s stock valued at $17,690,000 after buying an additional 12,200 shares during the period. Finally, TD Asset Management Inc. raised its stake in shares of Packaging Corp. of America by 22.1% in the second quarter. TD Asset Management Inc. now owns 29,800 shares of the company’s stock valued at $1,995,000 after buying an additional 5,400 shares during the period. Institutional investors and hedge funds own 86.87% of the company’s stock.

Shares of Packaging Corp. of America (NYSE:PKG) traded up 2.03% on Wednesday, reaching $81.39. The company’s stock had a trading volume of 338,847 shares. The company’s 50 day moving average is $77.86 and its 200-day moving average is $68.43. The stock has a market cap of $7.60 billion, a PE ratio of 17.29 and a beta of 1.71. Packaging Corp. of America has a 1-year low of $44.32 and a 1-year high of $82.06.

Packaging Corp. of America (NYSE:PKG) last released its earnings results on Thursday, July 21st. The company reported $1.25 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.18 by $0.07. The company earned $1.42 billion during the quarter, compared to analysts’ expectations of $1.46 billion. Packaging Corp. of America had a return on equity of 27.74% and a net margin of 7.95%. The business’s revenue for the quarter was down 2.5% on a year-over-year basis. During the same period last year, the firm earned $1.18 EPS. On average, equities analysts predict that Packaging Corp. of America will post $4.81 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, October 14th. Stockholders of record on Thursday, September 15th will be paid a $0.63 dividend. This is a boost from Packaging Corp. of America’s previous quarterly dividend of $0.55. This represents a $2.52 annualized dividend and a dividend yield of 3.16%. The ex-dividend date of this dividend is Tuesday, September 13th. Packaging Corp. of America’s dividend payout ratio (DPR) is 53.62%.

Several analysts have recently weighed in on PKG shares. Credit Agricole SA upped their price objective on Packaging Corp. of America from $83.00 to $95.00 and gave the company a “buy” rating in a report on Tuesday, September 6th. Jefferies Group restated a “buy” rating on shares of Packaging Corp. of America in a report on Tuesday, August 23rd. Zacks Investment Research downgraded Packaging Corp. of America from a “hold” rating to a “sell” rating in a report on Monday, July 4th. Deutsche Bank AG upped their target price on Packaging Corp. of America from $71.00 to $73.00 and gave the company a “buy” rating in a report on Thursday, July 7th. Finally, BMO Capital Markets reaffirmed a “buy” rating on shares of Packaging Corp. of America in a report on Friday, July 22nd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the company. Packaging Corp. of America presently has a consensus rating of “Hold” and a consensus target price of $77.50.

In other news, SVP Kent A. Pflederer sold 1,100 shares of the firm’s stock in a transaction on Friday, July 22nd. The stock was sold at an average price of $74.30, for a total value of $81,730.00. Following the transaction, the senior vice president now directly owns 34,623 shares in the company, valued at approximately $2,572,488.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.10% of the stock is owned by insiders.

Packaging Corp. of America Company Profile

Packaging Corporation of America (PCA) is a producer of containerboard and corrugated packaging products, and uncoated free sheet. The Company operates through three segments: Packaging, Paper, and Corporate and Other. The Company operates over eight mills and approximately 90 corrugated products manufacturing plants.

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