Packaging Corp. of America (NYSE:PKG) posted its quarterly earnings results on Wednesday. The company reported $1.30 EPS for the quarter, missing the consensus estimate of $1.31 by $0.01. The business had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $559.20 million. Packaging Corp. of America had a return on equity of 27.74% and a net margin of 7.95%. The company’s revenue was up .9% compared to the same quarter last year. During the same period last year, the business posted $1.26 earnings per share.

Shares of Packaging Corp. of America (NYSE:PKG) traded up 2.11% during trading on Wednesday, reaching $85.54. The company’s stock had a trading volume of 1,140,658 shares. The company has a 50-day moving average price of $80.71 and a 200-day moving average price of $71.85. The stock has a market cap of $7.99 billion, a price-to-earnings ratio of 18.17 and a beta of 1.76. Packaging Corp. of America has a one year low of $44.32 and a one year high of $85.55.

Earnings History for Packaging Corp. of America (NYSE:PKG)

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 14th. Shareholders of record on Thursday, September 15th were given a dividend of $0.63 per share. The ex-dividend date of this dividend was Tuesday, September 13th. This represents a $2.52 annualized dividend and a yield of 2.95%. This is a positive change from Packaging Corp. of America’s previous quarterly dividend of $0.55. Packaging Corp. of America’s dividend payout ratio (DPR) is currently 53.62%.

In other news, SVP Kent A. Pflederer sold 1,100 shares of the company’s stock in a transaction that occurred on Friday, July 22nd. The stock was sold at an average price of $74.30, for a total transaction of $81,730.00. Following the sale, the senior vice president now directly owns 34,623 shares of the company’s stock, valued at approximately $2,572,488.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.10% of the company’s stock.

Hedge funds have recently modified their holdings of the company. Pacad Investment Ltd. purchased a new stake in shares of Packaging Corp. of America during the second quarter valued at about $843,000. Scotia Capital Inc. boosted its stake in shares of Packaging Corp. of America by 5.8% in the second quarter. Scotia Capital Inc. now owns 5,742 shares of the company’s stock valued at $386,000 after buying an additional 313 shares during the period. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Packaging Corp. of America during the second quarter valued at about $461,000. Cipher Capital LP boosted its stake in shares of Packaging Corp. of America by 332.1% in the second quarter. Cipher Capital LP now owns 19,375 shares of the company’s stock valued at $1,297,000 after buying an additional 14,891 shares during the period. Finally, Janney Montgomery Scott LLC boosted its stake in shares of Packaging Corp. of America by 187.0% in the second quarter. Janney Montgomery Scott LLC now owns 14,956 shares of the company’s stock valued at $1,002,000 after buying an additional 9,745 shares during the period. 86.82% of the stock is currently owned by institutional investors and hedge funds.

PKG has been the topic of several research reports. Bank of America Corp. raised shares of Packaging Corp. of America from a “neutral” rating to a “buy” rating and set a $92.00 price target on the stock in a research note on Tuesday. Buckingham Research downgraded shares of Packaging Corp. of America from a “buy” rating to a “neutral” rating and lifted their price target for the stock from $72.00 to $74.00 in a research note on Monday, July 18th. Goldman Sachs Group Inc. initiated coverage on shares of Packaging Corp. of America in a research note on Thursday, September 22nd. They set a “sell” rating and a $77.00 price target on the stock. Credit Agricole SA lifted their price target on shares of Packaging Corp. of America from $83.00 to $95.00 and gave the stock a “buy” rating in a research note on Tuesday, September 6th. Finally, Deutsche Bank AG lifted their price target on shares of Packaging Corp. of America from $75.00 to $77.00 and gave the stock a “hold” rating in a research note on Wednesday, August 10th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $79.43.

About Packaging Corp. of America

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.

5 Day Chart for NYSE:PKG

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