California Public Employees Retirement System Sells 3,930 Shares of Packaging Co. of America (NYSE:PKG)

California Public Employees Retirement System lessened its stake in shares of Packaging Co. of America (NYSE:PKG) by 2.5% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 156,445 shares of the industrial products company’s stock after selling 3,930 shares during the period. California Public Employees Retirement System’s holdings in Packaging Co. of America were worth $35,220,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Fortitude Family Office LLC raised its position in Packaging Co. of America by 150.8% during the 4th quarter. Fortitude Family Office LLC now owns 163 shares of the industrial products company’s stock valued at $37,000 after purchasing an additional 98 shares in the last quarter. Centricity Wealth Management LLC purchased a new position in shares of Packaging Co. of America during the fourth quarter valued at $44,000. Golden State Wealth Management LLC purchased a new stake in Packaging Co. of America in the fourth quarter worth about $48,000. Rialto Wealth Management LLC bought a new position in Packaging Co. of America during the 4th quarter worth about $63,000. Finally, Intact Investment Management Inc. purchased a new position in Packaging Co. of America during the 4th quarter valued at about $68,000. Hedge funds and other institutional investors own 89.78% of the company’s stock.

Packaging Co. of America Trading Up 0.8 %

Packaging Co. of America stock opened at $201.46 on Thursday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.98 and a current ratio of 2.95. The stock has a market cap of $18.09 billion, a PE ratio of 22.56, a price-to-earnings-growth ratio of 2.41 and a beta of 0.77. The stock has a 50-day moving average of $208.05 and a two-hundred day moving average of $221.99. Packaging Co. of America has a one year low of $169.00 and a one 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 EPS for the quarter, missing the consensus estimate 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, research analysts anticipate that Packaging Co. of America will post 10.44 EPS for the current fiscal year.

Packaging Co. of America Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Friday, March 14th will be given a $1.25 dividend. This represents a $5.00 annualized dividend and a dividend yield of 2.48%. The ex-dividend date is Friday, March 14th. Packaging Co. of America’s payout ratio is 55.99%.

Analyst Ratings Changes

Several brokerages have recently weighed in on PKG. Citigroup upped their price target on shares of Packaging Co. of America from $232.00 to $235.00 and gave the stock a “neutral” rating in a research report on Monday, January 6th. Truist Financial reaffirmed a “buy” rating and set a $265.00 target price (down previously from $282.00) on shares of Packaging Co. of America in a research report on Thursday, January 30th. StockNews.com raised Packaging Co. of America from a “hold” rating to a “buy” rating in a research report on Saturday, March 29th. Wells Fargo & Company dropped their price objective on Packaging Co. of America from $253.00 to $236.00 and set an “overweight” rating on the stock in a research report on Thursday, January 30th. Finally, Seaport Res Ptn upgraded shares of Packaging Co. of America from a “hold” rating to a “strong-buy” rating in a report on Thursday, February 13th. Two research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Packaging Co. of America currently has a consensus rating of “Moderate Buy” and an average 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.