Teachers Retirement System of The State of Kentucky Trims Position in Packaging Co. of America (NYSE:PKG)

Teachers Retirement System of The State of Kentucky lessened its stake in Packaging Co. of America (NYSE:PKG) by 69.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,650 shares of the industrial products company’s stock after selling 14,775 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Packaging Co. of America were worth $914,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the stock. Penserra Capital Management LLC increased its stake in Packaging Co. of America by 29.1% in the 2nd quarter. Penserra Capital Management LLC now owns 306 shares of the industrial products company’s stock worth $41,000 after buying an additional 69 shares during the period. Van ECK Associates Corp lifted its stake in Packaging Co. of America by 5.4% during the 3rd quarter. Van ECK Associates Corp now owns 1,458 shares of the industrial products company’s stock valued at $200,000 after acquiring an additional 75 shares during the period. Westpac Banking Corp lifted its stake in Packaging Co. of America by 1.4% during the 2nd quarter. Westpac Banking Corp now owns 5,785 shares of the industrial products company’s stock valued at $783,000 after acquiring an additional 82 shares during the period. GWM Advisors LLC increased its holdings in shares of Packaging Co. of America by 3.1% during the 3rd quarter. GWM Advisors LLC now owns 2,944 shares of the industrial products company’s stock valued at $405,000 after purchasing an additional 88 shares in the last quarter. Finally, CIBC Asset Management Inc increased its holdings in Packaging Co. of America by 1.1% in the 2nd quarter. CIBC Asset Management Inc now owns 8,428 shares of the industrial products company’s stock worth $1,141,000 after acquiring an additional 89 shares in the last quarter. 89.05% of the stock is currently owned by institutional investors.

A number of research analysts have commented on PKG shares. UBS Group upped their target price on shares of Packaging Co. of America from $115.00 to $125.00 and gave the company a “sell” rating in a research report on Tuesday, September 28th. Truist assumed coverage on shares of Packaging Co. of America in a research note on Wednesday, October 13th. They issued a “hold” rating and a $131.00 price target on the stock. Jefferies Financial Group reissued a “neutral” rating and issued a $157.00 price objective on shares of Packaging Co. of America in a report on Friday, November 5th. Truist Securities assumed coverage on Packaging Co. of America in a report on Wednesday, October 13th. They issued a “hold” rating and a $131.00 price objective for the company. Finally, Wells Fargo & Company decreased their price objective on Packaging Co. of America from $155.00 to $145.00 and set an “equal weight” rating for the company in a report on Friday, October 8th. One research analyst has rated the stock with a sell rating and seven have assigned a hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $138.50.

Packaging Co. of America stock opened at $137.31 on Friday. Packaging Co. of America has a one year low of $124.78 and a one year high of $156.54. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.78 and a current ratio of 2.31. The business has a fifty day moving average of $133.61 and a two-hundred day moving average of $138.37. The company has a market cap of $13.04 billion, a P/E ratio of 17.49, a price-to-earnings-growth ratio of 2.89 and a beta of 0.91.

Packaging Co. of America (NYSE:PKG) last announced its quarterly earnings results on Sunday, October 24th. The industrial products company reported $2.69 earnings per share for the quarter, beating analysts’ consensus estimates of $2.34 by $0.35. Packaging Co. of America had a return on equity of 22.26% and a net margin of 10.11%. The business had revenue of $2 billion during the quarter, compared to analysts’ expectations of $1.93 billion. During the same quarter last year, the business posted $1.57 earnings per share. The business’s revenue for the quarter was up 18.1% on a year-over-year basis. Sell-side analysts predict that Packaging Co. of America will post 8.71 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 14th. Investors of record on Monday, December 20th were given a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a yield of 2.91%. The ex-dividend date of this dividend was Friday, December 17th. Packaging Co. of America’s dividend payout ratio is presently 50.96%.

Packaging Co. of America Profile

Packaging Corp. of America engages in the production of container products. It operates through the following segments: Packaging, Paper, and Corporate and Other. The Packaging segment offers a variety of corrugated packaging products, such as conventional shipping containers. The Paper segment manufactures and sells a range of papers, including communication-based papers, and pressure sensitive papers.

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

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