State Board of Administration of Florida Retirement System Sells 9,694 Shares of KapStone Paper and Packaging Corp. (KS)

State Board of Administration of Florida Retirement System cut its holdings in KapStone Paper and Packaging Corp. (NYSE:KS) by 11.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 72,334 shares of the basic materials company’s stock after selling 9,694 shares during the quarter. State Board of Administration of Florida Retirement System’s holdings in KapStone Paper and Packaging were worth $2,482,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in KS. Louisiana State Employees Retirement System grew its position in shares of KapStone Paper and Packaging by 5.9% in the 4th quarter. Louisiana State Employees Retirement System now owns 37,500 shares of the basic materials company’s stock worth $851,000 after buying an additional 2,100 shares during the period. Schwab Charles Investment Management Inc. grew its position in shares of KapStone Paper and Packaging by 9.5% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 626,172 shares of the basic materials company’s stock worth $14,208,000 after buying an additional 54,207 shares during the period. Algert Global LLC purchased a new stake in shares of KapStone Paper and Packaging in the 4th quarter worth about $914,000. Engineers Gate Manager LP purchased a new stake in shares of KapStone Paper and Packaging in the 4th quarter worth about $1,648,000. Finally, Victory Capital Management Inc. grew its position in shares of KapStone Paper and Packaging by 1.8% in the 4th quarter. Victory Capital Management Inc. now owns 1,321,166 shares of the basic materials company’s stock worth $29,976,000 after buying an additional 23,416 shares during the period. 82.89% of the stock is currently owned by hedge funds and other institutional investors.

Shares of KS stock opened at $34.46 on Friday. KapStone Paper and Packaging Corp. has a one year low of $20.27 and a one year high of $35.01. The stock has a market cap of $3.37 billion, a P/E ratio of 21.54, a PEG ratio of 1.11 and a beta of 3.02. The company has a current ratio of 2.07, a quick ratio of 1.24 and a debt-to-equity ratio of 1.26.

KapStone Paper and Packaging (NYSE:KS) last announced its quarterly earnings data on Wednesday, April 18th. The basic materials company reported $0.43 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.36 by $0.07. KapStone Paper and Packaging had a net margin of 8.07% and a return on equity of 15.10%. The company had revenue of $799.20 million for the quarter, compared to the consensus estimate of $810.80 million. During the same period in the prior year, the firm posted $0.15 EPS. KapStone Paper and Packaging’s revenue for the quarter was up 4.4% on a year-over-year basis. analysts forecast that KapStone Paper and Packaging Corp. will post 2.22 EPS for the current year.

Several analysts recently commented on KS shares. Citigroup reissued a “neutral” rating and set a $26.00 price objective on shares of KapStone Paper and Packaging in a research report on Tuesday, January 30th. Royal Bank of Canada downgraded shares of KapStone Paper and Packaging from an “outperform” rating to a “sector perform” rating and increased their price objective for the company from $30.00 to $35.00 in a research report on Thursday, February 1st. BMO Capital Markets downgraded shares of KapStone Paper and Packaging from an “outperform” rating to a “market perform” rating in a research report on Tuesday, January 30th. Zacks Investment Research raised shares of KapStone Paper and Packaging from a “hold” rating to a “buy” rating and set a $39.00 price objective on the stock in a research report on Wednesday, January 31st. Finally, Stephens downgraded shares of KapStone Paper and Packaging from an “overweight” rating to an “equal weight” rating and set a $28.00 price objective on the stock. in a research report on Tuesday, January 30th. Eight research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $32.17.

About KapStone Paper and Packaging

KapStone Paper and Packaging Corporation produces and sells a range of containerboards, corrugated products, and specialty paper products in the United States and internationally. The company operates in two segments, Paper and Packaging, and Distribution. The Paper and Packaging segment offers containerboards consisting of linerboard and corrugated medium to manufacture corrugated containers for packaging products; and corrugated products.

Want to see what other hedge funds are holding KS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for KapStone Paper and Packaging Corp. (NYSE:KS).

Institutional Ownership by Quarter for KapStone Paper and Packaging (NYSE:KS)

Receive News & Ratings for KapStone Paper and Packaging Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for KapStone Paper and Packaging and related companies with MarketBeat.com's FREE daily email newsletter.


Leave a Reply