GHP Investment Advisors Inc. Acquires 662 Shares of Packaging Corp Of America (PKG)

GHP Investment Advisors Inc. grew its holdings in Packaging Corp Of America (NYSE:PKG) by 1.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 40,521 shares of the industrial products company’s stock after acquiring an additional 662 shares during the period. GHP Investment Advisors Inc.’s holdings in Packaging Corp Of America were worth $4,530,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. BlackRock Inc. boosted its holdings in shares of Packaging Corp Of America by 10.1% in the 2nd quarter. BlackRock Inc. now owns 9,488,674 shares of the industrial products company’s stock valued at $1,060,741,000 after acquiring an additional 872,739 shares during the last quarter. FMR LLC boosted its holdings in shares of Packaging Corp Of America by 222.9% in the 2nd quarter. FMR LLC now owns 3,050,688 shares of the industrial products company’s stock valued at $341,036,000 after acquiring an additional 2,105,782 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in shares of Packaging Corp Of America by 3.5% in the 2nd quarter. Victory Capital Management Inc. now owns 1,634,214 shares of the industrial products company’s stock valued at $182,689,000 after acquiring an additional 54,599 shares during the last quarter. Iridian Asset Management LLC CT boosted its holdings in shares of Packaging Corp Of America by 19.0% in the 2nd quarter. Iridian Asset Management LLC CT now owns 1,588,384 shares of the industrial products company’s stock valued at $177,565,000 after acquiring an additional 253,520 shares during the last quarter. Finally, Millennium Management LLC boosted its holdings in shares of Packaging Corp Of America by 76.5% in the 1st quarter. Millennium Management LLC now owns 1,113,306 shares of the industrial products company’s stock valued at $125,470,000 after acquiring an additional 482,533 shares during the last quarter. 87.12% of the stock is currently owned by institutional investors and hedge funds.

PKG opened at $115.36 on Tuesday. The company has a quick ratio of 1.67, a current ratio of 2.73 and a debt-to-equity ratio of 1.05. Packaging Corp Of America has a 1 year low of $107.39 and a 1 year high of $131.13. The firm has a market capitalization of $10.82 billion, a P/E ratio of 16.66, a PEG ratio of 1.74 and a beta of 1.79.

Packaging Corp Of America (NYSE:PKG) last posted its earnings results on Wednesday, July 25th. The industrial products company reported $2.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.97 by $0.11. Packaging Corp Of America had a net margin of 10.83% and a return on equity of 28.48%. The firm had revenue of $1.77 billion during the quarter, compared to analysts’ expectations of $1.72 billion. During the same period in the previous year, the business posted $1.52 EPS. The business’s revenue was up 11.6% compared to the same quarter last year. equities research analysts forecast that Packaging Corp Of America will post 7.9 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Monday, October 15th. Investors of record on Friday, September 14th will be paid a $0.79 dividend. This represents a $3.16 annualized dividend and a dividend yield of 2.74%. The ex-dividend date is Thursday, September 13th. Packaging Corp Of America’s dividend payout ratio is currently 52.49%.

Several analysts have recently commented on PKG shares. Wells Fargo & Co dropped their price objective on shares of Packaging Corp Of America from $150.00 to $140.00 and set a “market perform” rating on the stock in a report on Friday, July 27th. ValuEngine downgraded shares of Packaging Corp Of America from a “hold” rating to a “sell” rating in a report on Sunday, August 26th. Citigroup dropped their price objective on shares of Packaging Corp Of America from $128.00 to $121.00 and set a “neutral” rating on the stock in a report on Tuesday, July 10th. Zacks Investment Research raised shares of Packaging Corp Of America from a “hold” rating to a “buy” rating and set a $129.00 price objective on the stock in a report on Tuesday, June 26th. Finally, Stephens reaffirmed a “buy” rating on shares of Packaging Corp Of America in a report on Thursday, July 5th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company’s stock. Packaging Corp Of America has an average rating of “Hold” and an average target price of $130.22.

Packaging Corp Of America Company Profile

Packaging Corporation of America manufactures and sells containerboard and corrugated packaging products primarily in the United States. The company's Packaging segment offers various corrugated packaging products, such as conventional shipping containers used to protect and transport manufactured goods; multi-color boxes and displays that help to merchandise the packaged product in retail locations; and honeycomb protective packaging products.

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

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