Kentucky Retirement Systems Has $1.38 Million Stock Holdings in Packaging Co. of America (NYSE:PKG)

Kentucky Retirement Systems cut its holdings in Packaging Co. of America (NYSE:PKG) by 1.4% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 6,127 shares of the industrial products company’s stock after selling 85 shares during the quarter. Kentucky Retirement Systems’ holdings in Packaging Co. of America were worth $1,379,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. SYM FINANCIAL Corp boosted its position in Packaging Co. of America by 3.1% during the 4th quarter. SYM FINANCIAL Corp now owns 1,405 shares of the industrial products company’s stock worth $316,000 after acquiring an additional 42 shares during the last quarter. Mather Group LLC. boosted its holdings in shares of Packaging Co. of America by 1.7% in the 4th quarter. Mather Group LLC. now owns 2,586 shares of the industrial products company’s stock valued at $582,000 after buying an additional 43 shares during the last quarter. UMB Bank n.a. boosted its holdings in shares of Packaging Co. of America by 3.9% in the 4th quarter. UMB Bank n.a. now owns 1,165 shares of the industrial products company’s stock valued at $262,000 after buying an additional 44 shares during the last quarter. Deseret Mutual Benefit Administrators boosted its holdings in shares of Packaging Co. of America by 15.2% in the 3rd quarter. Deseret Mutual Benefit Administrators now owns 371 shares of the industrial products company’s stock valued at $80,000 after buying an additional 49 shares during the last quarter. Finally, AlphaMark Advisors LLC boosted its holdings in shares of Packaging Co. of America by 3.9% in the 4th quarter. AlphaMark Advisors LLC now owns 1,384 shares of the industrial products company’s stock valued at $312,000 after buying an additional 52 shares during the last quarter. 89.78% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, SVP Joseph Vaughn sold 2,300 shares of Packaging Co. of America stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $244.89, for a total value of $563,247.00. Following the transaction, the senior vice president now directly owns 9,197 shares of the company’s stock, valued at $2,252,253.33. The trade was a 20.01 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.60% of the stock is owned by insiders.

Packaging Co. of America Stock Performance

NYSE:PKG opened at $208.19 on Monday. The stock’s 50-day simple moving average is $224.09 and its 200 day simple moving average is $222.20. The firm has a market capitalization of $18.70 billion, a PE ratio of 23.31, a price-to-earnings-growth ratio of 2.41 and a beta of 0.77. The company has a quick ratio of 1.98, a current ratio of 2.95 and a debt-to-equity ratio of 0.58. Packaging Co. of America has a twelve month low of $169.00 and a twelve month high of $250.82.

Packaging Co. of America (NYSE:PKG) last announced its quarterly earnings results on Tuesday, January 28th. The industrial products company reported $2.47 EPS for the quarter, missing analysts’ consensus estimates of $2.51 by ($0.04). Packaging Co. of America had a net margin of 9.60% and a return on equity of 19.67%. On average, analysts anticipate that Packaging Co. of America will post 10.44 EPS for the current fiscal year.

Packaging Co. of America Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Friday, December 20th were paid a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.40%. The ex-dividend date was Friday, December 20th. Packaging Co. of America’s dividend payout ratio is currently 55.99%.

Analysts Set New Price Targets

Several research firms have recently commented on PKG. Wells Fargo & Company cut their price objective on Packaging Co. of America from $253.00 to $236.00 and set an “overweight” rating for the company 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 research note on Wednesday, December 18th. StockNews.com cut Packaging Co. of America from a “buy” rating to a “hold” rating in a research note on Wednesday, January 29th. Truist Financial restated a “buy” rating and issued a $265.00 price target (down previously from $282.00) on shares of Packaging Co. of America in a research note on Thursday, January 30th. Finally, Citigroup increased their price target on Packaging Co. of America from $232.00 to $235.00 and gave the company a “neutral” rating in a research note on Monday, January 6th. Three equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $233.00.

About Packaging Co. of America

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.