Commonwealth of Pennsylvania Public School Empls Retrmt SYS Sells 450 Shares of Packaging Co. of America (NYSE:PKG)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS cut its stake in Packaging Co. of America (NYSE:PKG) by 2.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 18,960 shares of the industrial products company’s stock after selling 450 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Packaging Co. of America were worth $4,268,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Sanctuary Advisors LLC raised its stake in shares of Packaging Co. of America by 17.0% in the third quarter. Sanctuary Advisors LLC now owns 20,270 shares of the industrial products company’s stock worth $4,366,000 after purchasing an additional 2,946 shares during the last quarter. Jackson Creek Investment Advisors LLC purchased a new stake in shares of Packaging Co. of America in the fourth quarter worth approximately $293,000. AlphaQuest LLC raised its stake in shares of Packaging Co. of America by 25.3% in the fourth quarter. AlphaQuest LLC now owns 9,683 shares of the industrial products company’s stock worth $2,180,000 after purchasing an additional 1,954 shares during the last quarter. Strategic Financial Concepts LLC purchased a new stake in shares of Packaging Co. of America in the fourth quarter worth approximately $6,966,000. Finally, GAMMA Investing LLC raised its stake in shares of Packaging Co. of America by 24.2% in the fourth quarter. GAMMA Investing LLC now owns 2,431 shares of the industrial products company’s stock worth $547,000 after purchasing an additional 473 shares during the last quarter. 89.78% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently commented on PKG shares. Wells Fargo & Company decreased their price target on Packaging Co. of America from $253.00 to $236.00 and set an “overweight” rating for the company in a research report on Thursday, January 30th. Seaport Res Ptn raised Packaging Co. of America from a “hold” rating to a “strong-buy” rating in a research report on Thursday, February 13th. StockNews.com downgraded Packaging Co. of America from a “buy” rating to a “hold” rating in a research report on Friday. 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 report on Monday, January 6th. Finally, Truist Financial reaffirmed a “buy” rating and set a $265.00 price target (down from $282.00) on shares of Packaging Co. of America in a research report on Thursday, January 30th. Three research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $233.00.

Packaging Co. of America Price Performance

Shares of NYSE:PKG opened at $194.30 on Monday. The company has a quick ratio of 1.98, a current ratio of 2.95 and a debt-to-equity ratio of 0.58. The firm has a market capitalization of $17.45 billion, a PE ratio of 21.76, a P/E/G ratio of 2.41 and a beta of 0.77. Packaging Co. of America has a twelve month low of $169.00 and a twelve month high of $250.82. The company has a 50-day moving average price of $214.03 and a two-hundred day moving average price of $222.47.

Packaging Co. of America (NYSE:PKG) last issued its earnings results on Tuesday, January 28th. The industrial products company reported $2.47 earnings per share for the quarter, missing analysts’ consensus estimates 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%. Equities analysts forecast that Packaging Co. of America will post 10.44 EPS for the current year.

Packaging Co. of America Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Friday, March 14th will be given a dividend of $1.25 per share. The ex-dividend date is Friday, March 14th. This represents a $5.00 dividend on an annualized basis and a yield of 2.57%. Packaging Co. of America’s dividend payout ratio is presently 55.99%.

Packaging Co. of America 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.