1,887 Shares in Packaging Corporation of America (PKG) Acquired by CAPROCK Group Inc.

CAPROCK Group Inc. acquired a new position in Packaging Corporation of America (NYSE:PKG) during the second quarter, according to its most recent disclosure with the SEC. The firm acquired 1,887 shares of the industrial products company’s stock, valued at approximately $211,000.

Other institutional investors have also recently added to or reduced their stakes in the company. BlackRock Inc. increased its position in shares of 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 during the period. Vanguard Group Inc. increased its position in shares of 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 during the period. Bank of New York Mellon Corp increased its position in shares of 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 during the period. Bank of America Corp DE increased its position in shares of Packaging Corporation of America by 9.8% in the first quarter. Bank of America Corp DE now owns 2,461,352 shares of the industrial products company’s stock valued at $225,509,000 after buying an additional 219,410 shares during the period. Finally, Wells Fargo & Company MN increased its position in shares of Packaging Corporation of America by 0.4% in the first quarter. Wells Fargo & Company MN now owns 2,363,589 shares of the industrial products company’s stock valued at $216,553,000 after buying an additional 9,695 shares during the period. Hedge funds and other institutional investors own 88.92% of the company’s stock.

Packaging Corporation of America (PKG) traded down 0.52% during midday trading on Friday, hitting $109.99. The stock had a trading volume of 731,861 shares. The firm has a 50-day moving average price of $110.47 and a 200-day moving average price of $100.59. Packaging Corporation of America has a 1-year low of $74.95 and a 1-year high of $114.31. The firm has a market capitalization of $10.30 billion, a price-to-earnings ratio of 21.19 and a beta of 1.86.

Packaging Corporation of America (NYSE:PKG) last posted its earnings results on Wednesday, July 26th. The industrial products company reported $1.52 earnings per share for the quarter, topping analysts’ consensus estimates of $1.47 by $0.05. The business had revenue of $1.58 billion for the quarter, compared to analyst estimates of $1.56 billion. Packaging Corporation of America had a return on equity of 27.78% and a net margin of 8.05%. The firm’s revenue was up 11.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.25 EPS. On average, equities research analysts anticipate that Packaging Corporation of America will post $6.02 earnings per share for the current year.

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Several equities analysts have commented on the company. BMO Capital Markets reiterated a “buy” rating and set a $118.00 price target on shares of Packaging Corporation of America in a report on Friday, August 4th. Jefferies Group LLC set a $114.00 price target on Packaging Corporation of America and gave the company a “buy” rating in a report on Thursday, June 1st. ValuEngine downgraded Packaging Corporation of America from a “buy” rating to a “hold” rating in a report on Thursday, May 11th. BidaskClub upgraded Packaging Corporation of America from a “hold” rating to a “buy” rating in a report on Wednesday, August 2nd. Finally, KeyCorp assumed coverage on Packaging Corporation of America in a report on Thursday, July 6th. They set a “sector weight” rating on the stock. Seven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Packaging Corporation of America has a consensus rating of “Buy” and a consensus target price of $102.73.

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.

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

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