IFP Advisors Inc decreased its stake in shares of Packaging Corporation of America (NYSE:PKG) by 11.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,495 shares of the industrial products company’s stock after selling 472 shares during the period. IFP Advisors Inc’s holdings in Packaging Corporation of America were worth $389,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of PKG. BlackRock Inc. increased its stake in Packaging Corporation of America by 8,719.3% in the first quarter. BlackRock Inc. now owns 13,344,341 shares of the industrial products company’s stock valued at $1,222,607,000 after buying an additional 13,193,032 shares in the last quarter. Iridian Asset Management LLC CT increased its stake in Packaging Corporation of America by 2,657.5% in the first quarter. Iridian Asset Management LLC CT now owns 1,378,725 shares of the industrial products company’s stock valued at $126,319,000 after buying an additional 1,328,725 shares in the last quarter. Vanguard Group Inc. increased its stake in Packaging Corporation of America by 5.7% in the first quarter. Vanguard Group Inc. now owns 8,238,908 shares of the industrial products company’s stock valued at $754,848,000 after buying an additional 445,345 shares in the last quarter. Point72 Asset Management L.P. bought a new stake in Packaging Corporation of America during the first quarter valued at $35,656,000. Finally, Bank of New York Mellon Corp increased its stake in Packaging Corporation of America by 8.6% in the first quarter. Bank of New York Mellon Corp now owns 4,035,040 shares of the industrial products company’s stock valued at $369,689,000 after buying an additional 318,194 shares in the last quarter. 88.92% of the stock is owned by hedge funds and other institutional investors.

Packaging Corporation of America (PKG) opened at 109.13 on Tuesday. Packaging Corporation of America has a 12-month low of $74.95 and a 12-month high of $114.31. The stock has a market capitalization of $10.22 billion, a price-to-earnings ratio of 21.03 and a beta of 1.86. The firm has a 50-day moving average of $110.56 and a 200 day moving average of $100.33.

Packaging Corporation of America (NYSE:PKG) last announced its quarterly earnings data on Wednesday, July 26th. The industrial products company reported $1.52 EPS for the quarter, beating the Zacks’ consensus estimate of $1.47 by $0.05. Packaging Corporation of America had a net margin of 8.05% and a return on equity of 27.78%. The company had revenue of $1.58 billion for the quarter, compared to the consensus estimate of $1.56 billion. During the same period in the prior year, the firm posted $1.25 EPS. The company’s quarterly revenue was up 11.8% compared to the same quarter last year. On average, analysts predict that Packaging Corporation of America will post $6.00 earnings per share for the current fiscal year.

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Several analysts have recently weighed in on PKG shares. BMO Capital Markets reaffirmed a “buy” rating and set a $104.00 price target (up previously from $100.00) on shares of Packaging Corporation of America in a research note on Monday, May 1st. Deutsche Bank AG lifted their price objective on shares of Packaging Corporation of America from $91.00 to $94.00 and gave the company a “hold” rating in a report on Tuesday, April 25th. ValuEngine raised shares of Packaging Corporation of America from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. BidaskClub lowered shares of Packaging Corporation of America from a “strong-buy” rating to a “buy” rating in a report on Wednesday, July 19th. Finally, KeyCorp started coverage on shares of Packaging Corporation of America in a report on Thursday, July 6th. They set a “sector weight” rating on the stock. Seven analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $102.73.

Packaging Corporation of America Company Profile

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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