Packaging Co. of America (NYSE:PKG) Stock Holdings Increased by Teacher Retirement System of Texas

Teacher Retirement System of Texas boosted its holdings in shares of Packaging Co. of America (NYSE:PKG) by 61.0% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 137,148 shares of the industrial products company’s stock after acquiring an additional 51,962 shares during the quarter. Teacher Retirement System of Texas owned approximately 0.15% of Packaging Co. of America worth $30,876,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in PKG. Larson Financial Group LLC raised its position in Packaging Co. of America by 234.7% during the third quarter. Larson Financial Group LLC now owns 164 shares of the industrial products company’s stock valued at $35,000 after acquiring an additional 115 shares in the last quarter. Fortitude Family Office LLC raised its position in Packaging Co. of America by 150.8% during the fourth quarter. Fortitude Family Office LLC now owns 163 shares of the industrial products company’s stock valued at $37,000 after acquiring an additional 98 shares in the last quarter. Centricity Wealth Management LLC bought a new position in Packaging Co. of America during the fourth quarter valued at approximately $44,000. Golden State Wealth Management LLC bought a new position in Packaging Co. of America during the fourth quarter valued at approximately $48,000. Finally, Rialto Wealth Management LLC bought a new position in Packaging Co. of America during the fourth quarter valued at approximately $63,000. Institutional investors own 89.78% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on PKG shares. Citigroup raised their price objective on shares of Packaging Co. of America from $232.00 to $235.00 and gave the company a “neutral” rating in a research report on Monday, January 6th. StockNews.com raised shares of Packaging Co. of America from a “hold” rating to a “buy” rating in a research report on Wednesday, February 26th. Wells Fargo & Company lowered their price target on Packaging Co. of America from $253.00 to $236.00 and set an “overweight” rating on the stock in a report on Thursday, January 30th. Jefferies Financial Group upgraded Packaging Co. of America from a “hold” rating to a “buy” rating and increased their price target for the company from $215.00 to $280.00 in a report on Wednesday, December 18th. Finally, Truist Financial reiterated a “buy” rating and set a $265.00 price target (down previously from $282.00) on shares of Packaging Co. of America in a report on Thursday, January 30th. Two investment analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Packaging Co. of America has a consensus rating of “Moderate Buy” and a consensus price target of $233.00.

Packaging Co. of America Trading Down 0.6 %

Shares of Packaging Co. of America stock opened at $197.30 on Friday. The company’s fifty day simple moving average is $214.69 and its 200-day simple moving average is $222.34. The company has a market cap of $17.72 billion, a price-to-earnings ratio of 22.09, a PEG ratio of 2.41 and a beta of 0.77. The company has a current ratio of 2.95, a quick ratio of 1.98 and a debt-to-equity ratio of 0.58. Packaging Co. of America has a 1 year low of $169.00 and a 1 year high of $250.82.

Packaging Co. of America (NYSE:PKG) last announced its quarterly earnings data on Tuesday, January 28th. The industrial products company reported $2.47 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.51 by ($0.04). Packaging Co. of America had a return on equity of 19.67% and a net margin of 9.60%. As a group, sell-side analysts expect that Packaging Co. of America will post 10.44 EPS for the current year.

Packaging Co. of America Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Friday, March 14th will be paid a $1.25 dividend. The ex-dividend date is Friday, March 14th. This represents a $5.00 annualized dividend and a dividend yield of 2.53%. Packaging Co. of America’s payout ratio is 55.99%.

Packaging Co. of America Company Profile

Packaging Corporation 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.