California State Teachers Retirement System increased its stake in Packaging Corp Of America (NYSE:PKG) by 0.4% during the third quarter, Holdings Channel.com reports. The fund owned 152,062 shares of the industrial products company’s stock after buying an additional 548 shares during the period. California State Teachers Retirement System’s holdings in Packaging Corp Of America were worth $16,134,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. Parallel Advisors LLC grew its holdings in Packaging Corp Of America by 774.2% during the 2nd quarter. Parallel Advisors LLC now owns 271 shares of the industrial products company’s stock worth $26,000 after acquiring an additional 240 shares during the period. Steward Partners Investment Advisory LLC bought a new position in shares of Packaging Corp Of America in the 2nd quarter worth about $35,000. Motco raised its position in shares of Packaging Corp Of America by 126.3% in the 2nd quarter. Motco now owns 405 shares of the industrial products company’s stock worth $39,000 after acquiring an additional 226 shares in the last quarter. First Mercantile Trust Co. acquired a new position in shares of Packaging Corp Of America in the 2nd quarter valued at about $40,000. Finally, Horan Capital Advisors LLC. bought a new stake in shares of Packaging Corp Of America during the 3rd quarter valued at about $44,000. 93.42% of the stock is currently owned by institutional investors.

In other Packaging Corp Of America news, SVP Bruce A. Ridley sold 1,900 shares of the business’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $112.92, for a total transaction of $214,548.00. Following the completion of the sale, the senior vice president now owns 17,589 shares in the company, valued at approximately $1,986,149.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.20% of the company’s stock.

PKG has been the subject of a number of research analyst reports. Citigroup lifted their target price on Packaging Corp Of America from $101.00 to $108.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Zacks Investment Research cut Packaging Corp Of America from a “hold” rating to a “sell” rating and set a $116.00 price target on the stock. in a report on Monday, October 14th. KeyCorp reaffirmed a “sell” rating and set a $89.00 price objective on shares of Packaging Corp Of America in a research report on Thursday, October 24th. ValuEngine lowered shares of Packaging Corp Of America from a “buy” rating to a “hold” rating in a research note on Monday, October 7th. Finally, BNP Paribas began coverage on shares of Packaging Corp Of America in a research note on Monday. They issued a “neutral” rating and a $118.00 price objective for the company. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have issued a buy rating to the company’s stock. Packaging Corp Of America presently has an average rating of “Hold” and a consensus price target of $108.50.

Shares of NYSE:PKG opened at $111.03 on Tuesday. The company has a debt-to-equity ratio of 0.88, a quick ratio of 2.24 and a current ratio of 3.28. Packaging Corp Of America has a 52-week low of $77.90 and a 52-week high of $114.78. The business’s 50 day simple moving average is $111.09 and its two-hundred day simple moving average is $102.12. The firm has a market cap of $10.59 billion, a P/E ratio of 13.83, a PEG ratio of 2.93 and a beta of 1.68.

Packaging Corp Of America (NYSE:PKG) last issued its earnings results on Wednesday, October 23rd. The industrial products company reported $1.92 earnings per share for the quarter, topping analysts’ consensus estimates of $1.90 by $0.02. Packaging Corp Of America had a return on equity of 26.92% and a net margin of 10.94%. The company had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.79 billion. During the same period in the prior year, the firm earned $2.23 earnings per share. Packaging Corp Of America’s revenue for the quarter was down 3.3% on a year-over-year basis. On average, equities analysts forecast that Packaging Corp Of America will post 7.64 earnings per share for the current fiscal year.

About Packaging Corp Of America

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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