Jaffetilchin Investment Partners LLC cut its holdings in shares of Packaging Corporation of America (NYSE:PKG) by 11.9% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 10,238 shares of the industrial products company’s stock after selling 1,383 shares during the period. Jaffetilchin Investment Partners LLC owned approximately 10,851.09% of Packaging Corporation of America worth $1,174,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Toronto Dominion Bank grew its position in shares of Packaging Corporation 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 Corporation 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 Corporation 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. Atria Investments LLC acquired a new stake in shares of Packaging Corporation of America during the 2nd quarter valued at about $200,000. Finally, Perpetual Ltd acquired a new stake in shares of Packaging Corporation of America during the 2nd quarter valued at about $201,000. Hedge funds and other institutional investors own 88.34% of the company’s stock.

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Packaging Corporation of America (NYSE:PKG) traded down $0.83 during mid-day trading on Thursday, reaching $110.59. The company had a trading volume of 125,862 shares, compared to its average volume of 775,631. The firm has a market cap of $10,505.93, a PE ratio of 19.53, a price-to-earnings-growth ratio of 2.23 and a beta of 1.82. Packaging Corporation of America has a 12 month low of $78.42 and a 12 month high of $120.75. The company has a current ratio of 2.45, a quick ratio of 1.49 and a debt-to-equity ratio of 1.30.

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

The business also recently announced a quarterly dividend, which was paid on Friday, October 13th. Stockholders of record on Friday, September 15th were issued a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a dividend yield of 2.28%. The ex-dividend date was Thursday, September 14th. Packaging Corporation of America’s dividend payout ratio is currently 46.67%.

A number of equities research analysts have recently commented on PKG shares. KeyCorp restated a “hold” rating on shares of Packaging Corporation of America in a research report on Wednesday, October 18th. Jefferies Group LLC restated a “buy” rating and set a $128.00 target price (up from $114.00) on shares of Packaging Corporation of America in a research report on Friday, July 14th. Zacks Investment Research upgraded Packaging Corporation of America from a “hold” rating to a “buy” rating and set a $132.00 target price on the stock in a research report on Thursday, October 12th. Deutsche Bank AG restated a “hold” rating and set a $120.00 target price (up from $94.00) on shares of Packaging Corporation of America in a research report on Monday, October 9th. Finally, Goldman Sachs Group, Inc. (The) upgraded Packaging Corporation of America from a “sell” rating to a “neutral” rating and raised their target price for the company from $105.00 to $111.00 in a research report on Thursday, July 13th. Eight research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Packaging Corporation 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 business’s stock in a transaction that occurred on Thursday, November 2nd. The stock was sold at an average price of $116.15, for a total transaction of $700,036.05. Following the transaction, the senior vice president now directly owns 32,690 shares in the company, valued at approximately $3,796,943.50. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Thomas A. Hassfurther sold 6,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 12th. The stock was sold at an average price of $117.94, for a total value of $707,640.00. Following the transaction, the vice president now owns 155,071 shares in the company, valued at $18,289,073.74. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 18,177 shares of company stock worth $2,127,472. Insiders own 1.20% of the company’s stock.

About Packaging Corporation 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.

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Institutional Ownership by Quarter for Packaging Corporation of America (NYSE:PKG)

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