Packaging Corp Of America (PKG) : Dekabank Deutsche Girozentrale reduced its stake in Packaging Corp Of America by 1.6% during the most recent quarter end. The investment management company now holds a total of 536,717 shares of Packaging Corp Of America which is valued at $35.1 Million after selling 8,716 shares in Packaging Corp Of America , the firm said in a disclosure report filed with the SEC on May 13, 2016.Packaging Corp Of America makes up approximately 0.42% of Dekabank Deutsche Girozentrale’s portfolio.
Other Hedge Funds, Including , State Of Tennessee Treasury Department reduced its stake in PKG by selling 35,000 shares or 13.43% in the most recent quarter. The Hedge Fund company now holds 225,657 shares of PKG which is valued at $14.7 Million. Packaging Corp Of America makes up approx 0.09% of State Of Tennessee Treasury Department’s portfolio.Santa Barbara Asset Management reduced its stake in PKG by selling 33,576 shares or 1.7% in the most recent quarter. The Hedge Fund company now holds 1,938,481 shares of PKG which is valued at $126.6 Million. Packaging Corp Of America makes up approx 2.49% of Santa Barbara Asset Management’s portfolio. Rockland Trust Co added PKG to its portfolio by purchasing 15,398 company shares during the most recent quarter which is valued at $1 Million. Packaging Corp Of America makes up approx 0.17% of Rockland Trust Co’s portfolio.Public Employees Retirement Association Of Colorado reduced its stake in PKG by selling 1,800 shares or 6.69% in the most recent quarter. The Hedge Fund company now holds 25,114 shares of PKG which is valued at $1.6 Million. Packaging Corp Of America makes up approx 0.01% of Public Employees Retirement Association Of Colorado’s portfolio.
Packaging Corp Of America opened for trading at $66.31 and hit $67.86 on the upside on Wednesday, eventually ending the session at $67.61, with a gain of 2.74% or 1.8 points. The heightened volatility saw the trading volume jump to 7,17,013 shares. Company has a market cap of $6,363 M.
On the company’s financial health, Packaging Corp Of America reported $1.11 EPS for the quarter, beating the analyst consensus estimate by $ 0.10 according to the earnings call on Apr 20, 2016. Analyst had a consensus of $1.01. The company had revenue of $1401.00 million for the quarter, compared to analysts expectations of $1398.13 million. The company’s revenue was down -1.7 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.01 EPS.
Investors should note that on May 18, 2016, Packaging Corp Of America announced a cash dividend of $0.5500. The company’s management has announced Jun 13, 2016 as the ex-dividend date and fixed the record date on Jun 15, 2016. The payable date has been fixed on Jul 15, 2016.
Many Wall Street Analysts have commented on Packaging Corp Of America. Packaging Corp Of America was Downgraded by Dundee to ” Neutral” on Apr 11, 2016. Company shares were Reiterated by Deutsche Bank on Apr 11, 2016 to “Buy”, Firm has raised the Price Target to $ 68 from a previous price target of $62 .
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 Companys 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 Companys 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.