As Visa (V) Stock Rose, Beach Point Capital Management LP Has Upped Its Position by $5.95 Million; Parkwood Trimmed Its Stake in Packaging Of America (PKG) by $683,984 as Stock Declined

June 14, 2018 - By Richard Conner

Packaging Corporation of America (NYSE:PKG) Logo

Carl Goldsmith increased its stake in Visa Inc (V) by 77.52% based on its latest 2018Q1 regulatory filing with the SEC. Beach Point Capital Management Lp bought 50,000 shares as the company’s stock rose 5.37% while stock markets declined. The hedge fund run by Carl Goldsmith held 114,500 shares of the business services company at the end of 2018Q1, valued at $13.70M, up from 64,500 at the end of the previous reported quarter. Beach Point Capital Management Lp who had been investing in Visa Inc for a number of months, seems to be bullish on the $302.44B market cap company. The stock increased 0.47% or $0.63 during the last trading session, reaching $135.03. About 5.04M shares traded. Visa Inc. (NYSE:V) has risen 38.13% since June 14, 2017 and is uptrending. It has outperformed by 25.56% the S&P500.

Parkwood Llc decreased its stake in Packaging Corp Of America (PKG) by 50.99% based on its latest 2018Q1 regulatory filing with the SEC. Parkwood Llc sold 6,107 shares as the company’s stock declined 1.54% with the market. The institutional investor held 5,870 shares of the containers and packaging company at the end of 2018Q1, valued at $662,000, down from 11,977 at the end of the previous reported quarter. Parkwood Llc who had been investing in Packaging Corp Of America for a number of months, seems to be less bullish one the $11.30 billion market cap company. The stock increased 0.69% or $0.83 during the last trading session, reaching $120.78. About 451,025 shares traded. Packaging Corporation of America (NYSE:PKG) has risen 17.55% since June 14, 2017 and is uptrending. It has outperformed by 4.98% the S&P500. Some Historical PKG News: 13/03/2018 – Packaging Corp at Company Marketing Hosted By Stephens Inc; 14/05/2018 – Consolidated Research: 2018 Summary Expectations for Packaging Corporation of America, M&T Bank, Pinnacle West Capital, Agnico; 20/04/2018 – Packaging Corp: PCA Supports ICPF Dinner and Teleconference – 4/20/2018; 16/05/2018 – Packaging Corp Closes Above 200-Day Moving Average: Technicals; 24/04/2018 – PACKAGING CORP OF AMERICA QTRLY SHR $1.48; 25/04/2018 – PACKAGING CORP CEO MARK KOWLZAN SAYS ON 1Q EARNINGS CALL; 25/04/2018 – PACKAGING CORP SEES `INCREMENTAL WAGE PRESSURE’ IN LABOR MARKET; 24/04/2018 – Packaging Corporation of America’s Chief Executive Officer to Speak at Wells Fargo Securities Research, Economics & Strategy 2018 Industrials Conference; 08/05/2018 – Packaging Corp at Wells Fargo Industrials Conference Tomorrow; 15/05/2018 – PKG BOOSTS QTR DIV TO 79C/SHR FROM 63C, EST. 63C

More important recent Visa Inc. (NYSE:V) news were published by: Globenewswire.com which released: “Detailed Research: Economic Perspectives on Broadcom, Analog Devices, Visa, Pier 1 Imports, QTS Realty Trust, and …” on June 14, 2018, also Seekingalpha.com published article titled: “Is It Too Late To Buy Visa Stock?”, Fool.com published: “Is Visa Inc. a Buy?” on June 07, 2018. More interesting news about Visa Inc. (NYSE:V) was released by: Seekingalpha.com and their article: “Visa, Inc. (V) Management Presents at William Blair 2018 Growth Stock Conference (Transcript)” with publication date: June 13, 2018.

Investors sentiment decreased to 0.88 in Q1 2018. Its down 0.17, from 1.05 in 2017Q4. It dived, as 41 investors sold V shares while 684 reduced holdings. 127 funds opened positions while 513 raised stakes. 1.57 billion shares or 2.35% less from 1.61 billion shares in 2017Q4 were reported. The New Jersey-based Mercer Advisers Inc has invested 0.11% in Visa Inc. (NYSE:V). Shaker Ltd Company Oh owns 20,815 shares. Daiwa Sb Invs holds 11,470 shares. Carmignac Gestion reported 1.72 million shares. Cambridge Advsrs Inc owns 6,138 shares. Peddock Advsrs Ltd Liability Corporation has invested 0.11% in Visa Inc. (NYSE:V). Baillie Gifford And Com reported 6.13 million shares. Bancorporation Of The West holds 81,291 shares or 1.22% of its portfolio. 100,000 were accumulated by Trb Advsrs Ltd Partnership. Peak Asset Mngmt Ltd Liability Co stated it has 3.27% in Visa Inc. (NYSE:V). Capital Guardian Tru has invested 1.61% in Visa Inc. (NYSE:V). Louisiana-based Waters Parkerson And Com Lc has invested 4.23% in Visa Inc. (NYSE:V). Dowling Yahnke Ltd Liability Com accumulated 92,831 shares or 1.04% of the stock. Moreover, Cambridge Co has 2.13% invested in Visa Inc. (NYSE:V). Buffington Mohr Mcneal holds 0.23% in Visa Inc. (NYSE:V) or 4,935 shares.

Since December 15, 2017, it had 0 buys, and 3 selling transactions for $6.34 million activity. Shares for $205,440 were sold by Biggar Lynne. HOFFMEISTER JAMES H sold $1.08M worth of stock. Shares for $5.06M were sold by MCINERNEY RYAN on Thursday, May 10.

Among 43 analysts covering Visa Inc. (NYSE:V), 34 have Buy rating, 0 Sell and 9 Hold. Therefore 79% are positive. Visa Inc. had 132 analyst reports since July 21, 2015 according to SRatingsIntel. The firm has “Outperform” rating given on Thursday, October 22 by Wells Fargo. The rating was reinitiated by UBS on Friday, May 18 with “Neutral”. The stock has “Buy” rating by Nomura on Thursday, October 26. Cowen & Co maintained it with “Buy” rating and $129.0 target in Friday, January 12 report. Robert W. Baird maintained it with “Outperform” rating and $128 target in Monday, October 2 report. UBS initiated the shares of V in report on Wednesday, December 16 with “Buy” rating. The stock has “Overweight” rating by JP Morgan on Monday, June 6. Argus Research maintained the shares of V in report on Friday, April 27 with “Buy” rating. On Wednesday, June 6 the stock rating was maintained by Wedbush with “Buy”. BMO Capital Markets maintained the shares of V in report on Friday, February 2 with “Buy” rating.

Beach Point Capital Management Lp, which manages about $8.09B and $447.15 million US Long portfolio, decreased its stake in Adient Plc by 31,521 shares to 74,611 shares, valued at $4.46 million in 2018Q1, according to the filing. It also reduced its holding in Stealthgas Inc (NASDAQ:GASS) by 923,029 shares in the quarter, leaving it with 273,851 shares, and cut its stake in Comcast Corp New (NASDAQ:CMCSA).

Since June 5, 2018, it had 0 buys, and 1 insider sale for $68,451 activity.

Parkwood Llc, which manages about $700.57M US Long portfolio, upped its stake in Cl A by 11,651 shares to 34,428 shares, valued at $35.71 million in 2018Q1, according to the filing. It also increased its holding in Microsoft Corp (NASDAQ:MSFT) by 12,956 shares in the quarter, for a total of 101,042 shares, and has risen its stake in Linn Energy Inc.

Among 16 analysts covering Packaging Corporation of America (NYSE:PKG), 8 have Buy rating, 1 Sell and 7 Hold. Therefore 50% are positive. Packaging Corporation of America had 58 analyst reports since July 23, 2015 according to SRatingsIntel. The firm earned “Buy” rating on Monday, September 18 by Jefferies. The firm has “Buy” rating by BMO Capital Markets given on Thursday, January 25. Citigroup maintained the shares of PKG in report on Tuesday, July 19 with “Neutral” rating. The stock of Packaging Corporation of America (NYSE:PKG) has “Neutral” rating given on Monday, July 18 by Buckingham Research. As per Wednesday, August 16, the company rating was maintained by Jefferies. BMO Capital Markets maintained Packaging Corporation of America (NYSE:PKG) on Friday, June 2 with “Buy” rating. The stock of Packaging Corporation of America (NYSE:PKG) has “Market Perform” rating given on Monday, July 10 by Wells Fargo. The firm earned “Hold” rating on Wednesday, November 15 by KeyBanc Capital Markets. The company was maintained on Thursday, October 12 by KeyBanc Capital Markets. The rating was initiated by Macquarie Research on Tuesday, November 10 with “Neutral”.

Analysts await Packaging Corporation of America (NYSE:PKG) to report earnings on July, 25. They expect $1.97 earnings per share, up 29.61% or $0.45 from last year’s $1.52 per share. PKG’s profit will be $184.33 million for 15.33 P/E if the $1.97 EPS becomes a reality. After $1.55 actual earnings per share reported by Packaging Corporation of America for the previous quarter, Wall Street now forecasts 27.10% EPS growth.

Packaging Corporation of America (NYSE:PKG) Institutional Positions Chart

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