Teachers Retirement System of The State of Kentucky Has $7.34 Million Holdings in Packaging Corp Of America (PKG)

Teachers Retirement System of The State of Kentucky cut its position in shares of Packaging Corp Of America (NYSE:PKG) by 5.0% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 64,014 shares of the industrial products company’s stock after selling 3,400 shares during the period. Teachers Retirement System of The State of Kentucky owned approximately 0.07% of Packaging Corp Of America worth $7,342,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the business. Vanguard Group Inc. raised its stake in Packaging Corp Of America by 2.3% during the second quarter. Vanguard Group Inc. now owns 8,430,256 shares of the industrial products company’s stock worth $939,046,000 after purchasing an additional 191,348 shares during the period. Bank of New York Mellon Corp increased its position in shares of Packaging Corp Of America by 1.5% during the second quarter. Bank of New York Mellon Corp now owns 4,097,547 shares of the industrial products company’s stock valued at $456,426,000 after acquiring an additional 62,507 shares during the last quarter. State Street Corp increased its position in shares of Packaging Corp Of America by 1.0% during the second quarter. State Street Corp now owns 3,336,381 shares of the industrial products company’s stock valued at $371,683,000 after acquiring an additional 31,624 shares during the last quarter. Wells Fargo & Company MN increased its position in shares of Packaging Corp Of America by 4.1% during the second quarter. Wells Fargo & Company MN now owns 2,459,871 shares of the industrial products company’s stock valued at $274,005,000 after acquiring an additional 96,282 shares during the last quarter. Finally, First Eagle Investment Management LLC increased its position in shares of Packaging Corp Of America by 17.9% during the third quarter. First Eagle Investment Management LLC now owns 2,100,096 shares of the industrial products company’s stock valued at $240,839,000 after acquiring an additional 319,452 shares during the last quarter. 87.99% of the stock is currently owned by institutional investors.

In related news, SVP Charles J. Carter sold 6,150 shares of Packaging Corp Of America stock in a transaction that occurred on Friday, October 27th. The shares were sold at an average price of $117.04, for a total value of $719,796.00. Following the completion of the transaction, the senior vice president now owns 24,265 shares in the company, valued at $2,839,975.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jason Wayne Moreau purchased 1,326,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 14th. The stock was purchased at an average price of $0.06 per share, with a total value of $79,560.00. Insiders sold 63,177 shares of company stock valued at $2,133,172 in the last 90 days. Company insiders own 1.20% of the company’s stock.

Shares of Packaging Corp Of America (NYSE:PKG) traded down $0.60 during mid-day trading on Monday, hitting $111.47. 177,900 shares of the company were exchanged, compared to its average volume of 892,844. The company has a quick ratio of 1.49, a current ratio of 2.45 and a debt-to-equity ratio of 1.30. The firm has a market capitalization of $10,520.00, a PE ratio of 19.56, a P/E/G ratio of 2.23 and a beta of 1.82. Packaging Corp Of America has a 52-week low of $84.01 and a 52-week high of $120.75.

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

A number of equities research analysts have weighed in on the stock. BMO Capital Markets reiterated an “outperform” rating and set a $122.00 price target (up from $118.00) on shares of Packaging Corp Of America in a research report on Tuesday, August 22nd. Jefferies Group LLC reiterated a “buy” rating and set a $128.00 price target on shares of Packaging Corp Of America in a research report on Friday, August 18th. BidaskClub upgraded shares of Packaging Corp Of America from a “hold” rating to a “buy” rating in a research report on Wednesday, August 2nd. Barclays PLC lifted their price target on shares of Packaging Corp Of America from $108.00 to $110.00 and gave the company an “equal weight” rating in a research report on Monday, October 30th. Finally, Vertical Research reiterated a “buy” rating and set a $124.00 price target (up from $118.00) on shares of Packaging Corp Of America in a research report on Wednesday, August 23rd. Eight equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $117.36.

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Packaging Corp Of America Company Profile

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 Corp Of America (NYSE:PKG)

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