Marshall Wace North America L.P. Cuts Stake in Packaging Corp Of America (NYSE:PKG)

Marshall Wace North America L.P. decreased its holdings in shares of Packaging Corp Of America (NYSE:PKG) by 72.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 22,868 shares of the industrial products company’s stock after selling 59,353 shares during the quarter. Marshall Wace North America L.P.’s holdings in Packaging Corp Of America were worth $2,273,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in the company. CSat Investment Advisory L.P. lifted its position in Packaging Corp Of America by 73.8% during the fourth quarter. CSat Investment Advisory L.P. now owns 299 shares of the industrial products company’s stock worth $25,000 after purchasing an additional 127 shares during the period. Citizens Financial Group Inc RI bought a new position in shares of Packaging Corp Of America in the first quarter worth about $32,000. Aspire Private Capital LLC bought a new position in shares of Packaging Corp Of America in the fourth quarter worth about $41,000. Horan Capital Advisors LLC. bought a new position in shares of Packaging Corp Of America in the first quarter worth about $41,000. Finally, Oppenheimer Asset Management Inc. bought a new position in shares of Packaging Corp Of America in the fourth quarter worth about $47,000. 88.82% of the stock is owned by institutional investors.

Shares of NYSE PKG traded up $0.40 during mid-day trading on Friday, reaching $99.35. 981,301 shares of the company’s stock were exchanged, compared to its average volume of 1,416,115. The stock has a 50-day moving average price of $94.77. Packaging Corp Of America has a 52 week low of $77.90 and a 52 week high of $118.88. The firm has a market cap of $9.39 billion, a price-to-earnings ratio of 12.37, a price-to-earnings-growth ratio of 2.45 and a beta of 1.72. The company has a quick ratio of 1.93, a current ratio of 3.05 and a debt-to-equity ratio of 0.95.

Packaging Corp Of America (NYSE:PKG) last announced its quarterly earnings data on Wednesday, April 24th. The industrial products company reported $1.98 earnings per share for the quarter, topping the consensus estimate of $1.96 by $0.02. The company had revenue of $1.73 billion during the quarter, compared to analyst estimates of $1.77 billion. Packaging Corp Of America had a return on equity of 30.86% and a net margin of 11.12%. The firm’s revenue for the quarter was up 2.5% on a year-over-year basis. During the same quarter last year, the firm posted $1.55 EPS. On average, analysts expect that Packaging Corp Of America will post 8.1 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 14th will be issued a dividend of $0.79 per share. This represents a $3.16 dividend on an annualized basis and a yield of 3.18%. The ex-dividend date is Thursday, June 13th. Packaging Corp Of America’s payout ratio is presently 39.35%.

A number of research analysts have recently commented on the stock. Stephens set a $100.00 target price on shares of Cullen/Frost Bankers and gave the stock a “hold” rating in a report on Friday, April 26th. UBS Group reaffirmed a “sell” rating on shares of in a research note on Monday, June 24th. Bank of America downgraded shares of Propetro from a “buy” rating to a “neutral” rating in a research report on Tuesday, April 16th. KeyCorp reissued a “hold” rating on shares of Packaging Corp Of America in a research report on Thursday, April 25th. Finally, ValuEngine downgraded shares of Zosano Pharma from a “buy” rating to a “hold” rating in a research report on Wednesday, May 1st. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and two have given a buy rating to the company. Packaging Corp Of America currently has a consensus rating of “Hold” and an average price target of $101.09.

Packaging Corp Of America Profile

Packaging Corporation of America manufactures and sells containerboard and corrugated packaging products primarily in the United States. The company's Packaging segment offers various corrugated packaging products, such as conventional shipping containers used to protect and transport manufactured goods; multi-color boxes and displays that help to merchandise the packaged product in retail locations; and honeycomb protective packaging products.

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

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