Bank of Stockton Increases Holdings in Packaging Corporation of America (PKG)

Bank of Stockton grew its position in Packaging Corporation of America (NYSE:PKG) by 14.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,150 shares of the industrial products company’s stock after acquiring an additional 525 shares during the quarter. Bank of Stockton’s holdings in Packaging Corporation of America were worth $475,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the business. Southeast Asset Advisors Inc. lifted its position in shares of Packaging Corporation of America by 0.3% in the 2nd quarter. Southeast Asset Advisors Inc. now owns 4,560 shares of the industrial products company’s stock worth $508,000 after acquiring an additional 12 shares during the period. Van ECK Associates Corp lifted its position in shares of Packaging Corporation of America by 1.5% during the 2nd quarter. Van ECK Associates Corp now owns 2,302 shares of the industrial products company’s stock worth $256,000 after buying an additional 34 shares during the period. Advisor Partners LLC lifted its position in shares of Packaging Corporation of America by 1.2% during the 2nd quarter. Advisor Partners LLC now owns 3,170 shares of the industrial products company’s stock worth $353,000 after buying an additional 39 shares during the period. Ropes Wealth Advisors LLC lifted its position in shares of Packaging Corporation of America by 1.8% during the 2nd quarter. Ropes Wealth Advisors LLC now owns 3,969 shares of the industrial products company’s stock worth $442,000 after buying an additional 69 shares during the period. Finally, World Asset Management Inc lifted its position in shares of Packaging Corporation of America by 1.5% during the 2nd quarter. World Asset Management Inc now owns 7,158 shares of the industrial products company’s stock worth $797,000 after buying an additional 104 shares during the period. Institutional investors own 88.02% of the company’s stock.

In other news, VP Thomas A. Hassfurther sold 6,000 shares of Packaging Corporation of America stock in a transaction on Tuesday, September 12th. The stock was sold at an average price of $117.94, for a total value of $707,640.00. Following the completion of the sale, the vice president now directly owns 155,071 shares of the company’s stock, valued at approximately $18,289,073.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Thomas W.H. Walton sold 6,027 shares of Packaging Corporation of America stock in a transaction on Thursday, November 2nd. The shares were sold at an average price of $116.15, for a total value of $700,036.05. Following the completion of the sale, the senior vice president now directly owns 32,690 shares of the company’s stock, valued at $3,796,943.50. The disclosure for this sale can be found here. Insiders sold a total of 18,177 shares of company stock valued at $2,127,472 over the last three months. Insiders own 1.20% of the company’s stock.

Several research firms recently commented on PKG. BMO Capital Markets restated a “buy” rating and set a $118.00 target price on shares of Packaging Corporation of America in a research report on Friday, August 4th. Jefferies Group LLC restated a “buy” rating and set a $128.00 target price on shares of Packaging Corporation of America in a research report on Friday, August 18th. Barclays PLC raised their target price on Packaging Corporation of America from $108.00 to $110.00 and gave the stock an “equal weight” rating in a research report on Monday, October 30th. BidaskClub upgraded Packaging Corporation of America from a “hold” rating to a “buy” rating in a research report on Wednesday, August 2nd. Finally, KeyCorp reaffirmed a “hold” rating on shares of Packaging Corporation of America in a report on Sunday, October 29th. Eight research 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 presently has a consensus rating of “Hold” and a consensus price target of $117.36.

Packaging Corporation of America (PKG) traded up $2.09 during midday trading on Tuesday, hitting $112.36. The stock had a trading volume of 1,086,500 shares, compared to its average volume of 906,605. The firm has a market cap of $10,404.03, a PE ratio of 19.35, a P/E/G ratio of 2.21 and a beta of 1.82. Packaging Corporation of America has a one year low of $83.14 and a one year high of $120.75. The company has a debt-to-equity ratio of 1.30, a current ratio of 2.45 and a quick ratio of 1.49.

Packaging Corporation of America (NYSE:PKG) last released its earnings results on Wednesday, October 25th. The industrial products company reported $1.68 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.69 by ($0.01). The firm had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.64 billion. Packaging Corporation of America had a net margin of 8.18% and a return on equity of 29.38%. The firm’s quarterly revenue was up 10.5% on a year-over-year basis. During the same period last year, the business posted $1.30 earnings per share. equities research analysts forecast that Packaging Corporation of America will post 5.99 earnings per share for the current year.

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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.

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

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