The Profund Advisors LLC Has $1,074,000 Position in Packaging Corp. of America (PKG)

The Profund Advisors LLC Has $1,074,000 Position in Packaging Corp. of America (PKG)

Profund Advisors LLC boosted its position in shares of Packaging Corp. of America (NYSE:PKG) by 16.5% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 13,217 shares of the company’s stock after buying an additional 1,872 shares during the period. Profund Advisors LLC’s holdings in Packaging Corp. of America were worth $1,074,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of PKG. Vanguard Group Inc. boosted its position in Packaging Corp. of America by 2.0% in the second quarter. Vanguard Group Inc. now owns 7,549,364 shares of the company’s stock worth $505,278,000 after buying an additional 146,156 shares during the last quarter. BlackRock Fund Advisors boosted its position in Packaging Corp. of America by 3.5% in the third quarter. BlackRock Fund Advisors now owns 7,192,458 shares of the company’s stock worth $584,459,000 after buying an additional 243,759 shares during the last quarter. Bank of New York Mellon Corp boosted its position in Packaging Corp. of America by 22.3% in the second quarter. Bank of New York Mellon Corp now owns 3,546,877 shares of the company’s stock worth $237,391,000 after buying an additional 647,699 shares during the last quarter. LSV Asset Management boosted its position in Packaging Corp. of America by 11.1% in the third quarter. LSV Asset Management now owns 3,156,989 shares of the company’s stock worth $256,536,000 after buying an additional 316,150 shares during the last quarter. Finally, BlackRock Institutional Trust Company N.A. boosted its position in Packaging Corp. of America by 0.8% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 2,963,113 shares of the company’s stock worth $240,783,000 after buying an additional 24,882 shares during the last quarter. 86.92% of the stock is owned by institutional investors.

Packaging Corp. of America (NYSE:PKG) traded down 1.04% on Thursday, reaching $85.76. 410,238 shares of the company’s stock traded hands. Packaging Corp. of America has a 52-week low of $44.32 and a 52-week high of $89.28. The firm’s 50-day moving average is $86.49 and its 200 day moving average is $80.74. The stock has a market capitalization of $8.01 billion, a PE ratio of 18.42 and a beta of 1.85.

Packaging Corp. of America (NYSE:PKG) last released its quarterly earnings data on Wednesday, October 19th. The company reported $1.30 EPS for the quarter, missing the consensus estimate of $1.31 by $0.01. Packaging Corp. of America had a net margin of 7.77% and a return on equity of 27.24%. The business had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $559.20 million. During the same period last year, the business earned $1.26 earnings per share. The company’s quarterly revenue was up .9% on a year-over-year basis. Analysts forecast that Packaging Corp. of America will post $4.82 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 13th. Investors of record on Friday, December 23rd were given a dividend of $0.63 per share. The ex-dividend date was Wednesday, December 21st. This represents a $2.52 annualized dividend and a dividend yield of 2.94%. Packaging Corp. of America’s dividend payout ratio (DPR) is presently 54.19%.

A number of equities analysts have weighed in on PKG shares. Zacks Investment Research cut shares of Packaging Corp. of America from a “buy” rating to a “hold” rating in a research report on Thursday, January 12th. Deutsche Bank AG upgraded shares of Packaging Corp. of America from a “hold” rating to a “buy” rating and set a $90.00 target price on the stock in a research note on Friday, September 23rd. BMO Capital Markets lowered shares of Packaging Corp. of America from an “outperform” rating to a “market perform” rating and cut their target price for the company from $89.00 to $50.00 in a research note on Tuesday, November 15th. They noted that the move was a valuation call. Bank of America Corp. upgraded shares of Packaging Corp. of America from a “neutral” rating to a “buy” rating and set a $92.00 target price on the stock in a research note on Tuesday, October 18th. Finally, Jefferies Group restated a “buy” rating and issued a $93.00 target price (down previously from $96.00) on shares of Packaging Corp. of America in a research note on Friday, October 21st. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and five 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 $80.54.

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.

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