Naples Global Advisors buys $2,379,643 stake in Packaging Corp Of America (PKG)

Packaging Corp Of America (PKG) : Naples Global Advisors scooped up 203 additional shares in Packaging Corp Of America during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Oct 11, 2016. The investment management firm now holds a total of 29,216 shares of Packaging Corp Of America which is valued at $2,379,643.Packaging Corp Of America makes up approximately 0.94% of Naples Global Advisors’s portfolio.

Other Hedge Funds, Including , Cutler Group Lp sold out all of its stake in PKG during the most recent quarter. The investment firm sold 2,500 shares of PKG which is valued $203,625.Central Bank Trust Co boosted its stake in PKG in the latest quarter, The investment management firm added 1,172 additional shares and now holds a total of 53,022 shares of Packaging Corp Of America which is valued at $4,274,634. Packaging Corp Of America makes up approx 1.21% of Central Bank Trust Co’s portfolio. New England Research Management sold out all of its stake in PKG during the most recent quarter. The investment firm sold 4,925 shares of PKG which is valued $390,503. Washington Trust Bank added PKG to its portfolio by purchasing 21 company shares during the most recent quarter which is valued at $1,665.

Packaging Corp Of America closed down -0.84 points or -1.03% at $80.61 with 6,31,008 shares getting traded on Tuesday. Post opening the session at $81.12, the shares hit an intraday low of $79.92 and an intraday high of $81.23 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

On the company’s financial health, Packaging Corp Of America reported $1.25 EPS for the quarter, beating the analyst consensus estimate by $ 0.07 according to the earnings call on Jul 20, 2016. Analyst had a consensus of $1.18. The company had revenue of $1417.40 million for the quarter, compared to analysts expectations of $1455.32 million. The company’s revenue was down -2.5 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.18 EPS.

Many Wall Street Analysts have commented on Packaging Corp Of America. Goldman Initiated Packaging Corp Of America on Sep 22, 2016 to “Sell”, Price Target of the shares are set at $77.Company shares were Reiterated by Barclays on Jul 25, 2016 to “Overweight”, Firm has raised the Price Target to $ 81 from a previous price target of $71 .Packaging Corp Of America was Downgraded by Buckingham Research to ” Neutral” on Jul 18, 2016.

Packaging Corporation of America (PCA) is a producer of containerboard and white papers. The Company operates eight mills and 99 corrugated products manufacturing plants. The Company’s operations are primarily in the United States and it has converting operations in Europe Mexico and Canada. The Company operates through three segments: Packaging Paper and Corporate and Other. The Company’s corrugated products manufacturing plants produce a variety of corrugated packaging products including shipping containers used to protect and transport manufactured goods multi-color boxes and displays. It manufactures its Packaging products at five containerboard mills one containerboard machine corrugated manufacturing operations and protective packaging operations. Its Paper segment manufactures and sells white papers. Its Corporate and Other segment includes corporate support staff services and related assets and liabilities and foreign exchange gains and losses.

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