Wagner Bowman Management Corp lowered its stake in Packaging Corp. of America (NYSE:PKG) by 5.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,670 shares of the company’s stock after selling 200 shares during the period. Wagner Bowman Management Corp’s holdings in Packaging Corp. of America were worth $245,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the company. Pitcairn Co. raised its stake in shares of Packaging Corp. of America by 0.7% in the second quarter. Pitcairn Co. now owns 7,927 shares of the company’s stock valued at $531,000 after buying an additional 52 shares in the last quarter. IFP Advisors Inc raised its stake in shares of Packaging Corp. of America by 10.6% in the first quarter. IFP Advisors Inc now owns 2,741 shares of the company’s stock valued at $166,000 after buying an additional 263 shares in the last quarter. Coyle Financial Counsel LLC raised its stake in shares of Packaging Corp. of America by 1.9% in the second quarter. Coyle Financial Counsel LLC now owns 22,480 shares of the company’s stock valued at $1,505,000 after buying an additional 415 shares in the last quarter. CIBC World Markets Inc. raised its stake in shares of Packaging Corp. of America by 11.9% in the second quarter. CIBC World Markets Inc. now owns 4,623 shares of the company’s stock valued at $309,000 after buying an additional 492 shares in the last quarter. Finally, Gateway Investment Advisers LLC raised its stake in shares of Packaging Corp. of America by 1.5% in the second quarter. Gateway Investment Advisers LLC now owns 36,577 shares of the company’s stock valued at $2,448,000 after buying an additional 532 shares in the last quarter. 86.87% of the stock is currently owned by institutional investors.

Shares of Packaging Corp. of America (NYSE:PKG) traded up 2.37% during midday trading on Wednesday, hitting $81.66. The company had a trading volume of 569,618 shares. The stock has a market capitalization of $7.62 billion, a price-to-earnings ratio of 17.35 and a beta of 1.71. Packaging Corp. of America has a one year low of $44.32 and a one year high of $82.06. The stock’s 50-day moving average price is $78.09 and its 200-day moving average price is $68.53.

Packaging Corp. of America (NYSE:PKG) last issued its quarterly earnings results on Thursday, July 21st. The company reported $1.25 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.18 by $0.07. The business had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.46 billion. Packaging Corp. of America had a return on equity of 27.74% and a net margin of 7.95%. The firm’s quarterly revenue was down 2.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.18 earnings per share. Analysts predict that Packaging Corp. of America will post $4.81 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, October 14th. Investors of record on Thursday, September 15th will be given a dividend of $0.63 per share. The ex-dividend date is Tuesday, September 13th. This represents a $2.52 dividend on an annualized basis and a yield of 3.09%. This is an increase from Packaging Corp. of America’s previous quarterly dividend of $0.55. Packaging Corp. of America’s dividend payout ratio is currently 53.62%.

Several analysts recently commented on the company. Argus reaffirmed a “buy” rating and issued a $84.00 price target (up previously from $79.00) on shares of Packaging Corp. of America in a research note on Friday, September 2nd. Barclays PLC lifted their price objective on Packaging Corp. of America from $71.00 to $81.00 and gave the company an “overweight” rating in a research report on Monday, July 25th. Deutsche Bank AG downgraded Packaging Corp. of America from a “buy” rating to a “hold” rating and lifted their price objective for the company from $73.00 to $75.00 in a research report on Friday, July 22nd. Zacks Investment Research upgraded Packaging Corp. of America from a “hold” rating to a “buy” rating and set a $74.00 price objective for the company in a research report on Tuesday, June 14th. Finally, Jefferies Group reiterated a “buy” rating on shares of Packaging Corp. of America in a research report on Tuesday, August 23rd. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $77.50.

In related news, SVP Kent A. Pflederer sold 1,100 shares of the stock in a transaction that occurred on Friday, July 22nd. The stock was sold at an average price of $74.30, for a total transaction of $81,730.00. Following the sale, the senior vice president now owns 34,623 shares of the company’s stock, valued at $2,572,488.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.10% of the company’s stock.

About Packaging Corp. of America

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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