Chicago Partners Investment Group LLC Decreases Holdings in Packaging Corp Of America (PKG)

Chicago Partners Investment Group LLC trimmed its position in Packaging Corp Of America (NYSE:PKG) by 50.0% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,400 shares of the industrial products company’s stock after selling 1,400 shares during the quarter. Chicago Partners Investment Group LLC’s holdings in Packaging Corp Of America were worth $161,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Southeast Asset Advisors Inc. grew its holdings in Packaging Corp Of America by 0.3% in the 2nd quarter. Southeast Asset Advisors Inc. now owns 4,560 shares of the industrial products company’s stock valued at $508,000 after buying an additional 12 shares in the last quarter. Van ECK Associates Corp lifted its position in shares of Packaging Corp Of America by 1.5% during the 2nd quarter. Van ECK Associates Corp now owns 2,302 shares of the industrial products company’s stock valued at $256,000 after acquiring an additional 34 shares during the period. Ropes Wealth Advisors LLC lifted its position in shares of Packaging Corp Of America by 1.8% during the 2nd quarter. Ropes Wealth Advisors LLC now owns 3,969 shares of the industrial products company’s stock valued at $442,000 after acquiring an additional 69 shares during the period. Comerica Securities Inc. lifted its position in shares of Packaging Corp Of America by 1.3% during the 2nd quarter. Comerica Securities Inc. now owns 9,420 shares of the industrial products company’s stock valued at $1,055,000 after acquiring an additional 118 shares during the period. Finally, Toronto Dominion Bank lifted its position in shares of Packaging Corp 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. 90.24% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Packaging Corp Of America (PKG) traded up $0.38 during mid-day trading on Monday, hitting $115.27. The company had a trading volume of 1,708,200 shares, compared to its average volume of 886,826. 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 Corp Of America has a twelve month low of $84.01 and a twelve month high of $120.75. The company has a market cap of $10,875.72, a P/E ratio of 20.22, a P/E/G ratio of 2.31 and a beta of 1.81.

Packaging Corp Of America (NYSE:PKG) last announced its quarterly earnings data on Wednesday, October 25th. The industrial products company reported $1.68 earnings per share for the quarter, missing the consensus estimate of $1.69 by ($0.01). Packaging Corp Of America had a return on equity of 29.38% and a net margin of 8.18%. The business had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.64 billion. During the same quarter in the prior year, the company earned $1.30 earnings per share. Packaging Corp Of America’s quarterly revenue was up 10.5% compared to the same quarter last year. analysts anticipate that Packaging Corp Of America will post 5.99 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 12th. Investors of record on Tuesday, December 26th will be given a dividend of $0.63 per share. The ex-dividend date is Friday, December 22nd. This represents a $2.52 annualized dividend and a dividend yield of 2.19%. Packaging Corp Of America’s dividend payout ratio is currently 46.67%.

A number of research firms have recently weighed in on PKG. Stephens began coverage on Packaging Corp Of America in a research report on Tuesday, October 24th. They set an “overweight” rating and a $130.00 target price for the company. Barclays upped their target price on Packaging Corp Of America from $108.00 to $110.00 and gave the company an “equal weight” rating in a research report on Monday, October 30th. Zacks Investment Research downgraded Packaging Corp Of America from a “buy” rating to a “hold” rating in a research report on Monday, October 30th. KeyCorp reiterated a “hold” rating on shares of Packaging Corp Of America in a research report on Sunday, October 29th. Finally, Deutsche Bank reiterated a “hold” rating and set a $120.00 target price (up from $94.00) on shares of Packaging Corp Of America in a research report on Monday, October 9th. Eight research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $117.36.

In other Packaging Corp Of America news, SVP Thomas W.H. Walton sold 6,027 shares of the stock in a transaction dated Thursday, November 2nd. The stock was sold at an average price of $116.15, for a total value of $700,036.05. Following the completion of the transaction, the senior vice president now directly owns 32,690 shares in the company, valued at $3,796,943.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Charles J. Carter sold 6,150 shares of the stock in a transaction dated Friday, October 27th. The shares were sold at an average price of $117.04, for a total value of $719,796.00. Following the completion of the transaction, the senior vice president now owns 24,265 shares of the company’s stock, valued at $2,839,975.60. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 67,177 shares of company stock valued at $1,427,532. 1.20% of the stock is owned by corporate insiders.

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About Packaging Corp 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.

Institutional Ownership by Quarter for Packaging Corp Of America (NYSE:PKG)

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