Packaging Corporation of America (PKG) Receiving Very Positive Media Coverage, Report Shows

Royal Bank Of Canada reaffirmed a "buy" rating and set a $26.00 price objective on shares of KapStone Paper and Packaging Corporation in a report on Tuesday, April 18th.

Packaging Corporation of America (NYSE:PKG) last posted its quarterly earnings data on Wednesday, April 26th. ValuEngine upgraded shares of Packaging Corporation of America from a "hold" rating to a "buy" rating in a research note on Friday, June 2nd. BMO Capital Markets maintained the stock with "Hold" rating in Monday, April 24 report. Packaging Corporation of America has an average rating of "Hold" and an average price target of $95.17.

Shares of KapStone Paper and Packaging Corporation (NYSE:KS) traded down 0.19% during midday trading on Friday, reaching $20.96.

About 240,127 shares traded. The share price has moved backward from its 20 days moving average, trading at a distance of -0.71% and stays -0.46% away from its 50 days moving average. After having $0.15 EPS previously, KapStone Paper and Packaging Corp.'s analysts see 93.33% EPS growth. The company has a market capitalization of $2.03 billion, a price-to-earnings ratio of 27.26 and a beta of 2.83.

Among 13 analysts covering Packaging Corporation of America (NYSE:PKG), 5 have Buy rating, 2 Sell and 6 Hold. The basic materials company reported $0.15 EPS for the quarter, missing the Thomson Reuters' consensus estimate of $0.22 by $0.07. The company had revenue of $1.54 billion during the quarter, compared to the consensus estimate of $1.48 billion. KapStone Paper and Packaging Corporation had a net margin of 2.45% and a return on equity of 11.18%. During the same quarter in the previous year, the firm earned $1.11 earnings per share.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 12th. Shareholders of record on Thursday, June 29th will be given a $0.10 dividend. The ex-dividend date is Tuesday, June 27th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.27%. Packaging Corporation of America's dividend payout ratio (DPR) is presently 51.43%.

COPYRIGHT VIOLATION WARNING: This news story was originally published by Transcript Daily and is owned by of Transcript Daily. If you are reading this piece of content on another site, it was illegally stolen and reposted in violation of USA & global copyright & trademark legislation. Packaging Corporation of America earned a media sentiment score of 0.51 on Accern's scale. Institutional investors own 88.41% of the company's stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jonathan R. Furer sold 12,484 shares of the firm's stock in a transaction that occurred on Thursday, May 11th. The shares were sold at an average price of $21.23, for a total value of $265,035.32.

Oppenheimer & Company Inc decreased Nordstrom Inc (NYSE:JWN) stake by 9,984 shares to 18,488 valued at $886,000 in 2016Q4. The disclosure for this purchase can be found here. Company insiders own 13.30% of the company's stock.

A number of other hedge funds also recently modified their holdings of the stock. Bank of New York Mellon Corp boosted its position in Packaging Corporation of America by 8.6% in the first quarter. Comerica Bank now owns 100,627 shares of the basic materials company's stock valued at $2,276,000 after buying an additional 5,203 shares in the last quarter. Louisiana State Employees Retirement System has an ownership of 35,800 stocks of the basic materials firms shares valued at $827,000 after scooping up an extra 500 shares through out the quarter. Bank of New York Mellon Corp now owns 4,035,040 shares of the industrial products company's stock worth $369,689,000 after buying an additional 318,194 shares during the period. Renaissance Technologies LLC acquired a new stake in Packaging Corporation of America during the fourth quarter worth $7,295,000. Flinton Capital Management LLC now owns 5,100 shares of the basic materials company's stock valued at $118,000 after buying an additional 374 shares during the period. Finally, State Street Corp boosted its stake in shares of KapStone Paper and Packaging Corporation by 5.6% in the fourth quarter. 12Th Street Asset Management Company Llc owns 150,754 shares or 3.87% of their U.S. portfolio.

01/31/2017 - Packaging Corporation of America was downgraded to "neutral" by analysts at D.A. Davidson. The Company's divisions include Americas, which is engaged in mobile banking, enterprise alerting and short message service banking products; Europe, which provides bank-grade mobile banking and digital services based on the Monitise Enterprise platform; FINKit, which delivers digital services to banks and financial services partners; Create, which collaborates with businesses that operate in various sectors, including financial services, retail and automotive; MEA, which provides digital solutions, and Content, which operates digital distribution networks and digital ticketing transactional platforms. The Packaging segment produces a range of corrugated packaging products.

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