First Trust Advisors LP Cuts Stock Holdings in Packaging Corp Of America (NYSE:PKG)

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First Trust Advisors LP cut its stake in Packaging Corp Of America (NYSE:PKG) by 0.8% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 80,281 shares of the industrial products company’s stock after selling 663 shares during the period. First Trust Advisors LP owned approximately 0.08% of Packaging Corp Of America worth $8,012,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of PKG. Bartlett & Co. LLC purchased a new position in Packaging Corp Of America in the first quarter valued at about $35,000. CWM Advisors LLC purchased a new position in Packaging Corp Of America in the first quarter valued at about $38,000. Cornerstone Advisors Inc. increased its holdings in Packaging Corp Of America by 75.2% in the first quarter. Cornerstone Advisors Inc. now owns 452 shares of the industrial products company’s stock valued at $39,000 after buying an additional 194 shares in the last quarter. TRUE Private Wealth Advisors purchased a new position in Packaging Corp Of America in the second quarter valued at about $40,000. Finally, Trust Co. of Vermont increased its holdings in Packaging Corp Of America by 61.9% in the first quarter. Trust Co. of Vermont now owns 523 shares of the industrial products company’s stock valued at $45,000 after buying an additional 200 shares in the last quarter. 89.12% of the stock is owned by institutional investors.

A number of research analysts have issued reports on PKG shares. Seaport Global Securities reaffirmed a “neutral” rating on shares of Packaging Corp Of America in a report on Monday, July 27th. Argus raised shares of Packaging Corp Of America from a “hold” rating to a “buy” rating and set a $100.00 price objective for the company in a research note on Thursday, May 14th. KeyCorp dropped their price objective on shares of Packaging Corp Of America from $89.00 to $79.00 and set an “underweight” rating for the company in a research note on Thursday, April 9th. They noted that the move was a valuation call. BofA Securities raised shares of Packaging Corp Of America from a “neutral” rating to a “buy” rating in a research note on Thursday, July 16th. Finally, Bank of America raised shares of Packaging Corp Of America from a “neutral” rating to a “buy” rating and set a $117.00 price objective for the company in a research note on Thursday, July 16th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and four have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $103.58.

Shares of NYSE PKG opened at $96.12 on Friday. Packaging Corp Of America has a 1 year low of $71.05 and a 1 year high of $114.78. The firm’s 50 day moving average price is $100.01 and its 200 day moving average price is $96.33. The firm has a market cap of $9.32 billion, a P/E ratio of 17.80, a price-to-earnings-growth ratio of 3.76 and a beta of 1.26. The company has a debt-to-equity ratio of 0.85, a quick ratio of 2.42 and a current ratio of 3.51.

Packaging Corp Of America (NYSE:PKG) last announced its earnings results on Tuesday, July 28th. The industrial products company reported $1.38 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.27 by $0.11. Packaging Corp Of America had a net margin of 7.65% and a return on equity of 20.07%. The firm had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.62 billion. During the same quarter last year, the business earned $2.04 earnings per share. Packaging Corp Of America’s revenue was down 12.4% compared to the same quarter last year. As a group, equities analysts predict that Packaging Corp Of America will post 5.23 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Monday, June 15th were given a dividend of $0.79 per share. The ex-dividend date of this dividend was Friday, June 12th. This represents a $3.16 dividend on an annualized basis and a yield of 3.29%. Packaging Corp Of America’s dividend payout ratio (DPR) is currently 41.31%.

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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