Todays Report: Today, Packaging Corp. of America (PKG) Stake Lowered by FTB Advisors Inc.

Today, Packaging Corp. of America (PKG) Stake Lowered by FTB Advisors Inc.

FTB Advisors Inc. lowered its position in Packaging Corp. of America (NYSE:PKG) by 3.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,537 shares of the company’s stock after selling 87 shares during the period. FTB Advisors Inc.’s holdings in Packaging Corp. of America were worth $169,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of PKG. Pitcairn Co. raised its position 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 worth $531,000 after buying an additional 52 shares during the period. Quadrant Capital Group LLC raised its position in shares of Packaging Corp. of America by 1.8% in the second quarter. Quadrant Capital Group LLC now owns 2,944 shares of the company’s stock worth $195,000 after buying an additional 53 shares during the period. Sumitomo Mitsui Asset Management Company LTD raised its position in shares of Packaging Corp. of America by 1.8% in the second quarter. Sumitomo Mitsui Asset Management Company LTD now owns 6,675 shares of the company’s stock worth $446,000 after buying an additional 115 shares during the period. Tokio Marine Asset Management Co. Ltd. raised its position in shares of Packaging Corp. of America by 10.3% in the second quarter. Tokio Marine Asset Management Co. Ltd. now owns 4,155 shares of the company’s stock worth $278,000 after buying an additional 388 shares during the period. Finally, Coyle Financial Counsel LLC raised its position 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 during the last quarter. Institutional investors and hedge funds own 86.82% of the company’s stock.

Shares of Packaging Corp. of America (NYSE:PKG) traded up 0.67% during trading on Tuesday, hitting $83.89. 966,679 shares of the company traded hands. The firm has a 50 day moving average price of $80.57 and a 200-day moving average price of $71.68. Packaging Corp. of America has a one year low of $44.32 and a one year high of $85.40. The stock has a market cap of $7.83 billion, a price-to-earnings ratio of 17.82 and a beta of 1.76.

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 firm had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $1.46 billion. Packaging Corp. of America had a net margin of 7.95% and a return on equity of 27.74%. Packaging Corp. of America’s quarterly revenue was down 2.5% on a year-over-year basis. During the same quarter last year, the company earned $1.18 EPS. Analysts predict that Packaging Corp. of America will post $4.82 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Friday, October 14th. Shareholders of record on Thursday, September 15th were paid a dividend of $0.63 per share. This is a boost from Packaging Corp. of America’s previous quarterly dividend of $0.55. The ex-dividend date of this dividend was Tuesday, September 13th. This represents a $2.52 annualized dividend and a yield of 3.02%. Packaging Corp. of America’s dividend payout ratio (DPR) is presently 53.62%.

Several research analysts have weighed in on PKG shares. Zacks Investment Research lowered shares of Packaging Corp. of America from a “buy” rating to a “hold” rating in a research report on Tuesday, June 28th. Jefferies Group restated a “buy” rating on shares of Packaging Corp. of America in a research report on Thursday, July 7th. Deutsche Bank AG upped their target price on shares of Packaging Corp. of America from $71.00 to $73.00 and gave the stock a “buy” rating in a research report on Thursday, July 7th. BMO Capital Markets restated a “buy” rating on shares of Packaging Corp. of America in a research report on Thursday, July 7th. Finally, Citigroup Inc. restated a “neutral” rating and set a $69.00 target price on shares of Packaging Corp. of America in a research report on Thursday, July 7th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and seven have given a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $79.43.

In other Packaging Corp. of America news, SVP Kent A. Pflederer sold 1,100 shares of the firm’s stock in a transaction dated Friday, July 22nd. The shares were sold at an average price of $74.30, for a total transaction of $81,730.00. Following the transaction, the senior vice president now owns 34,623 shares of the company’s stock, valued at approximately $2,572,488.90. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 1.10% of the company’s stock.

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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