Teachers Retirement System of The State of Kentucky Has $914,000 Stock Position in Packaging Co. of America (NYSE:PKG)

Teachers Retirement System of The State of Kentucky reduced its position in Packaging Co. of America (NYSE:PKG) by 69.0% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund 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 at the end of the most recent quarter.

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

Several research analysts have commented on the stock. Truist initiated coverage on shares of Packaging Co. of America in a research report on Wednesday, October 13th. They set a “hold” rating and a $131.00 price objective for the company. Jefferies Financial Group reiterated a “neutral” rating and issued a $157.00 price objective on shares of Packaging Co. of America in a research note on Friday, November 5th. UBS Group raised their price objective on shares of Packaging Co. of America from $115.00 to $125.00 and gave the stock a “sell” rating in a report on Tuesday, September 28th. Deutsche Bank Aktiengesellschaft cut their price target on shares of Packaging Co. of America from $135.00 to $129.00 and set a “hold” rating for the company in a report on Monday, December 20th. Finally, Truist Securities assumed coverage on shares of Packaging Co. of America in a research report on Wednesday, October 13th. They issued a “hold” rating and a $131.00 target price on the stock. One analyst has rated the stock with a sell rating and seven have given a hold rating to the company. According to MarketBeat, Packaging Co. of America has an average rating of “Hold” and an average price target of $138.50.

Shares of NYSE:PKG opened at $137.31 on Friday. 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 firm has a fifty day moving average price of $133.61 and a 200 day moving average price of $138.37. Packaging Co. of America has a fifty-two week low of $124.78 and a fifty-two week high of $156.54. The firm has a market cap of $13.04 billion, a price-to-earnings ratio of 17.49, a P/E/G ratio of 2.89 and a beta of 0.91.

Packaging Co. of America (NYSE:PKG) last released its quarterly earnings data on Sunday, October 24th. The industrial products company reported $2.69 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.34 by $0.35. Packaging Co. of America had a net margin of 10.11% and a return on equity of 22.26%. The business had revenue of $2 billion during the quarter, compared to analyst estimates of $1.93 billion. During the same quarter last year, the business earned $1.57 earnings per share. Packaging Co. of America’s quarterly revenue was up 18.1% compared to the same quarter last year. As a group, research analysts predict that Packaging Co. of America will post 8.71 earnings per share for the current year.

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

Packaging Co. of America Company 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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