Neuberger Berman Group LLC cut its stake in Packaging Corporation of America (NYSE:PKG) by 2.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 830,653 shares of the industrial products company’s stock after selling 24,240 shares during the period. Neuberger Berman Group LLC owned about 0.88% of Packaging Corporation of America worth $92,526,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PKG. Advisory Services Network LLC bought a new position in Packaging Corporation of America during the first quarter valued at approximately $113,000. TrimTabs Asset Management LLC increased its position in Packaging Corporation of America by 88.5% in the first quarter. TrimTabs Asset Management LLC now owns 1,295 shares of the industrial products company’s stock valued at $119,000 after buying an additional 608 shares in the last quarter. Creative Planning increased its position in Packaging Corporation of America by 44.9% in the first quarter. Creative Planning now owns 1,563 shares of the industrial products company’s stock valued at $143,000 after buying an additional 484 shares in the last quarter. Bronfman E.L. Rothschild L.P. increased its position in Packaging Corporation of America by 12.0% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 2,150 shares of the industrial products company’s stock valued at $197,000 after buying an additional 231 shares in the last quarter. Finally, Atria Investments LLC bought a new position in Packaging Corporation of America during the second quarter valued at approximately $200,000. Hedge funds and other institutional investors own 88.59% of the company’s stock.

Shares of Packaging Corporation of America (NYSE:PKG) opened at 111.14 on Thursday. The company has a market capitalization of $10.41 billion, a PE ratio of 21.41 and a beta of 1.86. Packaging Corporation of America has a 1-year low of $77.73 and a 1-year high of $114.31. The company has a 50 day moving average price of $110.10 and a 200 day moving average price of $101.28.

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

The business also recently declared a quarterly dividend, which will be paid on Friday, October 13th. Stockholders of record on Friday, September 15th will be paid a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.27%. The ex-dividend date is Thursday, September 14th. Packaging Corporation of America’s dividend payout ratio (DPR) is 48.56%.

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PKG has been the topic of several analyst reports. BMO Capital Markets reiterated a “buy” rating and issued a $118.00 price objective on shares of Packaging Corporation of America in a report on Friday, August 4th. BidaskClub upgraded Packaging Corporation of America from a “hold” rating to a “buy” rating in a report on Wednesday, August 2nd. Jefferies Group LLC reiterated a “buy” rating and issued a $128.00 price objective (up previously from $114.00) on shares of Packaging Corporation of America in a report on Friday, July 14th. ValuEngine upgraded Packaging Corporation of America from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. Finally, Vertical Research reiterated a “buy” rating and issued a $124.00 price objective (up previously from $118.00) on shares of Packaging Corporation of America in a report on Wednesday, August 23rd. Seven analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $104.83.

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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