Zebra Capital Management LLC Has $1.12 Million Position in Packaging Corp Of America (NYSE:PKG)

Zebra Capital Management LLC lowered its stake in Packaging Corp Of America (NYSE:PKG) by 21.3% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 11,777 shares of the industrial products company’s stock after selling 3,178 shares during the period. Packaging Corp Of America accounts for 0.6% of Zebra Capital Management LLC’s portfolio, making the stock its 20th largest position. Zebra Capital Management LLC’s holdings in Packaging Corp Of America were worth $1,123,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. Dimensional Fund Advisors LP boosted its stake in Packaging Corp Of America by 20.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 842,218 shares of the industrial products company’s stock valued at $70,288,000 after acquiring an additional 145,624 shares during the last quarter. Geode Capital Management LLC boosted its stake in Packaging Corp Of America by 8.2% in the fourth quarter. Geode Capital Management LLC now owns 1,261,616 shares of the industrial products company’s stock valued at $105,115,000 after acquiring an additional 95,452 shares during the last quarter. Janney Montgomery Scott LLC boosted its stake in Packaging Corp Of America by 19.4% in the first quarter. Janney Montgomery Scott LLC now owns 3,599 shares of the industrial products company’s stock valued at $358,000 after acquiring an additional 585 shares during the last quarter. Stephens Inc. AR bought a new position in Packaging Corp Of America in the first quarter valued at approximately $700,000. Finally, Nissay Asset Management Corp Japan ADV boosted its stake in Packaging Corp Of America by 4.2% in the first quarter. Nissay Asset Management Corp Japan ADV now owns 7,937 shares of the industrial products company’s stock valued at $789,000 after acquiring an additional 323 shares during the last quarter. 88.05% of the stock is owned by institutional investors and hedge funds.

PKG has been the topic of a number of recent research reports. Seaport Global Securities cut shares of Packaging Corp Of America from a “buy” rating to a “neutral” rating and set a $98.02 price objective on the stock. in a research note on Friday, July 12th. They noted that the move was a valuation call. ValuEngine raised shares of Packaging Corp Of America from a “hold” rating to a “buy” rating in a research note on Tuesday, August 6th. UBS Group set a $106.00 price objective on shares of Packaging Corp Of America and gave the company a “buy” rating in a research note on Monday, June 24th. Finally, KeyCorp cut shares of Packaging Corp Of America from a “sector weight” rating to an “underweight” rating and set a $89.00 price objective on the stock. in a research note on Monday, July 15th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and three have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $100.09.



In related news, SVP Thomas W.H. Walton sold 6,000 shares of the business’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $100.17, for a total value of $601,020.00. Following the sale, the senior vice president now directly owns 34,118 shares of the company’s stock, valued at approximately $3,417,600.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Donald R. Shirley sold 5,000 shares of the business’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $101.48, for a total transaction of $507,400.00. Following the completion of the sale, the senior vice president now directly owns 12,790 shares in the company, valued at $1,297,929.20. The disclosure for this sale can be found here. Company insiders own 1.20% of the company’s stock.

Shares of NYSE PKG traded down $0.72 during midday trading on Wednesday, reaching $104.30. 29,568 shares of the stock were exchanged, compared to its average volume of 697,043. The business has a 50-day simple moving average of $101.31 and a two-hundred day simple moving average of $98.30. The company has a market capitalization of $10.26 billion, a price-to-earnings ratio of 12.98, a P/E/G ratio of 2.81 and a beta of 1.71. Packaging Corp Of America has a 12 month low of $77.90 and a 12 month high of $118.88. The company has a debt-to-equity ratio of 0.92, a current ratio of 3.29 and a quick ratio of 2.18.

Packaging Corp Of America (NYSE:PKG) last announced its quarterly earnings results on Wednesday, July 24th. The industrial products company reported $2.04 earnings per share for the quarter, hitting analysts’ consensus estimates of $2.04. The company had revenue of $1.76 billion for the quarter, compared to analysts’ expectations of $1.78 billion. Packaging Corp Of America had a net margin of 11.23% and a return on equity of 29.23%. The business’s quarterly revenue was down .4% compared to the same quarter last year. During the same period last year, the firm posted $2.08 earnings per share. Equities research analysts expect that Packaging Corp Of America will post 7.7 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Friday, September 13th will be given a dividend of $0.79 per share. The ex-dividend date of this dividend is Thursday, September 12th. This represents a $3.16 dividend on an annualized basis and a dividend yield of 3.03%. Packaging Corp Of America’s dividend payout ratio is 39.35%.

Packaging Corp Of America Company 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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