Packaging Corp Of America (PKG) Stake Decreased by WESPAC Advisors LLC

WESPAC Advisors LLC decreased its stake in shares of Packaging Corp Of America (NYSE:PKG) by 9.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,943 shares of the industrial products company’s stock after selling 1,380 shares during the period. Packaging Corp Of America comprises approximately 1.5% of WESPAC Advisors LLC’s holdings, making the stock its 25th largest position. WESPAC Advisors LLC’s holdings in Packaging Corp Of America were worth $1,277,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Bank of New York Mellon Corp raised its stake in Packaging Corp Of America by 8.6% in the first quarter. Bank of New York Mellon Corp now owns 4,035,040 shares of the industrial products company’s stock valued at $369,689,000 after buying an additional 318,194 shares during the period. LSV Asset Management raised its stake in Packaging Corp Of America by 11.1% in the third quarter. LSV Asset Management now owns 3,156,989 shares of the industrial products company’s stock valued at $256,536,000 after buying an additional 316,150 shares during the period. Wells Fargo & Company MN raised its stake in Packaging Corp Of America by 0.4% in the first quarter. Wells Fargo & Company MN now owns 2,363,589 shares of the industrial products company’s stock valued at $216,553,000 after buying an additional 9,695 shares during the period. First Eagle Investment Management LLC raised its stake in Packaging Corp Of America by 15.0% in the third quarter. First Eagle Investment Management LLC now owns 1,439,260 shares of the industrial products company’s stock valued at $116,954,000 after buying an additional 187,800 shares during the period. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main bought a new stake in Packaging Corp Of America during the fourth quarter valued at $97,143,000. Institutional investors and hedge funds own 85.38% of the company’s stock.

Institutional Ownership by Quarter for Packaging Corp Of America (NYSE:PKG)

Shares of Packaging Corp Of America (NYSE:PKG) traded up 0.13% on Friday, reaching $99.35. The company’s stock had a trading volume of 855,408 shares. The firm has a market cap of $9.28 billion, a price-to-earnings ratio of 20.27 and a beta of 1.84. Packaging Corp Of America has a 1-year low of $62.41 and a 1-year high of $103.17. The company’s 50 day moving average is $96.04 and its 200-day moving average is $90.68.

Packaging Corp Of America (NYSE:PKG) last released its quarterly earnings data on Wednesday, April 26th. The industrial products company reported $1.27 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.24 by $0.03. Packaging Corp Of America had a return on equity of 27.81% and a net margin of 7.76%. The company had revenue of $1.54 billion during the quarter, compared to analysts’ expectations of $1.48 billion. During the same period last year, the firm posted $1.11 earnings per share. The business’s revenue was up 9.7% on a year-over-year basis. Equities research analysts expect that Packaging Corp Of America will post $5.93 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 14th. Stockholders of record on Thursday, June 15th will be given a $0.63 dividend. The ex-dividend date is Tuesday, June 13th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.54%. Packaging Corp Of America’s payout ratio is 53.05%.

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Several research firms recently weighed in on PKG. ValuEngine lowered Packaging Corp Of America from a “buy” rating to a “hold” rating in a report on Thursday, May 11th. Barclays PLC reduced their target price on Packaging Corp Of America from $100.00 to $90.00 and set an “equal weight” rating for the company in a report on Monday, May 1st. Jefferies Group LLC boosted their target price on Packaging Corp Of America from $97.00 to $104.00 and gave the stock a “buy” rating in a report on Thursday, February 2nd. DA Davidson lowered Packaging Corp Of America from a “buy” rating to a “neutral” rating and set a $96.00 target price for the company. in a report on Tuesday, January 31st. They noted that the move was a valuation call. Finally, BMO Capital Markets upgraded Packaging Corp Of America from a “market perform” rating to an “outperform” rating and set a $100.00 target price for the company in a report on Wednesday, January 25th. One analyst has rated the stock with a sell rating, seven have given 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 target price of $95.17.

About Packaging Corp 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.

5 Day Chart for NYSE:PKG

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