Guggenheim Capital LLC Sells 29,518 Shares of Packaging Corp Of America (PKG)

Guggenheim Capital LLC decreased its holdings in Packaging Corp Of America (NYSE:PKG) by 5.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 508,234 shares of the industrial products company’s stock after selling 29,518 shares during the quarter. Guggenheim Capital LLC owned 0.54% of Packaging Corp Of America worth $57,278,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Colonial Trust Advisors boosted its stake in shares of Packaging Corp Of America by 3.5% in the first quarter. Colonial Trust Advisors now owns 14,621 shares of the industrial products company’s stock valued at $1,648,000 after purchasing an additional 494 shares during the period. Caisse DE Depot ET Placement DU Quebec boosted its stake in shares of Packaging Corp Of America by 3.6% in the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 14,310 shares of the industrial products company’s stock valued at $1,613,000 after purchasing an additional 500 shares during the period. Profund Advisors LLC boosted its stake in shares of Packaging Corp Of America by 19.8% in the fourth quarter. Profund Advisors LLC now owns 3,051 shares of the industrial products company’s stock valued at $368,000 after purchasing an additional 505 shares during the period. Cambria Investment Management L.P. boosted its stake in shares of Packaging Corp Of America by 2.7% in the first quarter. Cambria Investment Management L.P. now owns 19,751 shares of the industrial products company’s stock valued at $2,226,000 after purchasing an additional 514 shares during the period. Finally, Norinchukin Bank The boosted its stake in shares of Packaging Corp Of America by 6.0% in the fourth quarter. Norinchukin Bank The now owns 9,144 shares of the industrial products company’s stock valued at $1,102,000 after purchasing an additional 521 shares during the period. 86.72% of the stock is owned by institutional investors and hedge funds.

Shares of NYSE:PKG opened at $119.03 on Friday. The company has a market capitalization of $11.40 billion, a P/E ratio of 19.77, a PEG ratio of 1.82 and a beta of 1.80. Packaging Corp Of America has a fifty-two week low of $105.44 and a fifty-two week high of $131.13. The company has a debt-to-equity ratio of 1.10, a quick ratio of 1.58 and a current ratio of 2.72.

Packaging Corp Of America (NYSE:PKG) last issued its earnings results on Tuesday, April 24th. The industrial products company reported $1.55 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.53 by $0.02. The firm had revenue of $1.69 billion for the quarter, compared to analysts’ expectations of $1.64 billion. Packaging Corp Of America had a net margin of 10.48% and a return on equity of 28.10%. The firm’s revenue was up 10.0% compared to the same quarter last year. During the same quarter last year, the company earned $1.27 earnings per share. analysts predict that Packaging Corp Of America will post 7.96 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, July 13th. Investors of record on Friday, June 15th will be issued a $0.79 dividend. This is a boost from Packaging Corp Of America’s previous quarterly dividend of $0.63. The ex-dividend date is Thursday, June 14th. This represents a $3.16 annualized dividend and a yield of 2.65%. Packaging Corp Of America’s dividend payout ratio (DPR) is 52.49%.

In related news, Director Paul T. Stecko sold 566 shares of the firm’s stock in a transaction that occurred on Tuesday, June 5th. The shares were sold at an average price of $120.94, for a total value of $68,452.04. Following the sale, the director now owns 69,077 shares of the company’s stock, valued at $8,354,172.38. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 1.20% of the stock is owned by company insiders.

Several research analysts have recently commented on the stock. KeyCorp reissued a “hold” rating on shares of Packaging Corp Of America in a research note on Wednesday, April 25th. Citigroup lowered their price objective on shares of Packaging Corp Of America from $136.00 to $123.00 and set a “neutral” rating for the company in a research note on Thursday, April 5th. Finally, Zacks Investment Research lowered shares of Packaging Corp Of America from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, March 27th. Seven research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $128.92.

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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