Taylor Cottrill Erickson & Associates Inc. Cuts Position in Packaging Corp Of America (NYSE:PKG)

Taylor Cottrill Erickson & Associates Inc. trimmed its position in Packaging Corp Of America (NYSE:PKG) by 0.8% during the second quarter, HoldingsChannel.com reports. The firm owned 37,100 shares of the industrial products company’s stock after selling 300 shares during the quarter. Taylor Cottrill Erickson & Associates Inc.’s holdings in Packaging Corp Of America were worth $3,536,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in PKG. Citizens Financial Group Inc RI purchased a new stake in shares of Packaging Corp Of America during the 1st quarter valued at about $32,000. Steward Partners Investment Advisory LLC purchased a new stake in shares of Packaging Corp Of America during the 2nd quarter valued at about $35,000. Horan Capital Advisors LLC. purchased a new stake in shares of Packaging Corp Of America during the 1st quarter valued at about $41,000. Cullen Frost Bankers Inc. purchased a new stake in shares of Packaging Corp Of America during the 1st quarter valued at about $52,000. Finally, Zions Bancorporation N.A. purchased a new stake in shares of Packaging Corp Of America during the 1st quarter valued at about $66,000. Institutional investors own 88.81% of the company’s stock.

PKG has been the topic of several analyst reports. KeyCorp downgraded Packaging Corp Of America from a “sector weight” rating to an “underweight” rating and set a $89.00 target price on the stock. in a report on Monday, July 15th. Seaport Global Securities downgraded Packaging Corp Of America from a “buy” rating to a “neutral” rating and set a $98.02 target price on the stock. in a report on Friday, July 12th. They noted that the move was a valuation call. ValuEngine upgraded Packaging Corp Of America from a “hold” rating to a “buy” rating in a report on Tuesday. Bank of America downgraded Packaging Corp Of America from a “buy” rating to a “neutral” rating in a report on Tuesday, April 16th. Finally, Zacks Investment Research downgraded Packaging Corp Of America from a “hold” rating to a “sell” rating in a report on Wednesday, April 10th. 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 company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $100.09.

NYSE PKG traded down $0.28 during mid-day trading on Wednesday, reaching $99.87. 15,685 shares of the company’s stock traded hands, compared to its average volume of 1,170,853. Packaging Corp Of America has a 1-year low of $77.90 and a 1-year high of $118.88. The firm’s fifty day simple moving average is $98.60. The company has a current ratio of 3.05, a quick ratio of 1.93 and a debt-to-equity ratio of 0.95. The stock has a market capitalization of $9.46 billion, a P/E ratio of 12.45, a price-to-earnings-growth ratio of 2.60 and a beta of 1.71.

Packaging Corp Of America (NYSE:PKG) last issued its quarterly earnings data on Wednesday, July 24th. The industrial products company reported $2.04 earnings per share for the quarter, meeting analysts’ consensus estimates of $2.04. Packaging Corp Of America had a return on equity of 29.93% and a net margin of 11.23%. The firm had revenue of $1.76 billion during the quarter, compared to analyst estimates of $1.78 billion. During the same quarter last year, the firm earned $2.08 EPS. Packaging Corp Of America’s quarterly revenue was down .4% on a year-over-year basis. Equities analysts expect that Packaging Corp Of America will post 7.8 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Friday, June 14th were paid a dividend of $0.79 per share. The ex-dividend date was Thursday, June 13th. This represents a $3.16 dividend on an annualized basis and a yield of 3.16%. Packaging Corp Of America’s dividend payout ratio (DPR) is presently 39.35%.

In other Packaging Corp Of America news, SVP Donald R. Shirley sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, July 26th. The stock was 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 owns 12,790 shares in the company, valued at approximately $1,297,929.20. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.20% of the stock is owned by company insiders.

About Packaging Corp Of America

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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