Packaging Co. of America (NYSE:PKG) Shares Sold by California State Teachers Retirement System

California State Teachers Retirement System trimmed its position in Packaging Co. of America (NYSE:PKG) by 1.8% in the first quarter, HoldingsChannel.com reports. The firm owned 178,470 shares of the industrial products company’s stock after selling 3,248 shares during the quarter. California State Teachers Retirement System’s holdings in Packaging Co. of America were worth $24,001,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Valley Brook Capital Group acquired a new stake in Packaging Co. of America in the fourth quarter worth approximately $27,000. tru Independence LLC acquired a new stake in Packaging Co. of America in the fourth quarter worth approximately $29,000. Vantage Consulting Group Inc acquired a new stake in Packaging Co. of America in the fourth quarter worth approximately $30,000. Creative Financial Designs Inc. ADV lifted its position in Packaging Co. of America by 878.3% in the first quarter. Creative Financial Designs Inc. ADV now owns 225 shares of the industrial products company’s stock worth $30,000 after purchasing an additional 202 shares during the period. Finally, Whittier Trust Co. lifted its position in shares of Packaging Co. of America by 48.7% during the 1st quarter. Whittier Trust Co. now owns 223 shares of the industrial products company’s stock valued at $30,000 after acquiring an additional 73 shares during the last quarter. Hedge funds and other institutional investors own 88.44% of the company’s stock.

In other news, SVP Charles J. Carter sold 9,161 shares of the company’s stock in a transaction on Tuesday, May 11th. The shares were sold at an average price of $154.57, for a total value of $1,416,015.77. Following the transaction, the senior vice president now directly owns 39,572 shares of the company’s stock, valued at $6,116,644.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 1.60% of the company’s stock.

PKG opened at $132.82 on Thursday. The firm has a fifty day simple moving average of $141.51. The stock has a market capitalization of $12.62 billion, a price-to-earnings ratio of 26.04, a P/E/G ratio of 3.50 and a beta of 0.89. Packaging Co. of America has a 12-month low of $92.01 and a 12-month high of $156.54. The company has a debt-to-equity ratio of 0.75, a current ratio of 3.55 and a quick ratio of 2.55.

Packaging Co. of America (NYSE:PKG) last posted its quarterly earnings results on Sunday, April 25th. The industrial products company reported $1.77 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.48 by $0.29. Packaging Co. of America had a net margin of 7.19% and a return on equity of 17.85%. The business had revenue of $1.81 billion for the quarter, compared to the consensus estimate of $1.71 billion. During the same period in the prior year, the business posted $1.50 earnings per share. Packaging Co. of America’s revenue for the quarter was up 5.8% compared to the same quarter last year. On average, equities analysts expect that Packaging Co. of America will post 7.55 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Thursday, July 15th. Stockholders of record on Tuesday, June 15th were paid a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a dividend yield of 3.01%. The ex-dividend date of this dividend was Monday, June 14th. Packaging Co. of America’s dividend payout ratio (DPR) is presently 69.20%.

A number of equities research analysts have recently commented on PKG shares. Deutsche Bank Aktiengesellschaft increased their price objective on Packaging Co. of America from $128.00 to $135.00 and gave the company a “hold” rating in a research report on Monday, April 19th. Morgan Stanley increased their price objective on Packaging Co. of America from $131.00 to $140.00 and gave the company an “equal weight” rating in a research report on Thursday, April 29th. BMO Capital Markets increased their price objective on Packaging Co. of America from $140.00 to $150.00 and gave the company a “market perform” rating in a research report on Wednesday, April 28th. Finally, Wells Fargo & Company increased their price objective on Packaging Co. of America from $145.00 to $155.00 and gave the company an “equal weight” rating in a research report on Monday, June 21st. One analyst has rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the stock. Packaging Co. of America currently has a consensus rating of “Hold” and an average price target of $138.20.

Packaging Co. of America Profile

Packaging Corporation of America manufactures and sells containerboard and corrugated packaging products in the United States. The company operates through Packaging and Paper segments. The Packaging segment offers various containerboard and 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, as well as packaging for meat, fresh fruit and vegetables, processed food, beverages, and other industrial and consumer products.

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Institutional Ownership by Quarter for Packaging Co. of America (NYSE:PKG)

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