State Board of Administration of Florida Retirement System Has $14.84 Million Stock Position in Packaging Co. of America (NYSE:PKG)

State Board of Administration of Florida Retirement System cut its holdings in Packaging Co. of America (NYSE:PKGFree Report) by 10.4% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 96,654 shares of the industrial products company’s stock after selling 11,165 shares during the period. State Board of Administration of Florida Retirement System owned 0.11% of Packaging Co. of America worth $14,841,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Barclays PLC lifted its stake in Packaging Co. of America by 141.6% in the 2nd quarter. Barclays PLC now owns 270,926 shares of the industrial products company’s stock worth $35,805,000 after purchasing an additional 158,780 shares in the last quarter. CWM LLC lifted its stake in Packaging Co. of America by 10.5% in the 2nd quarter. CWM LLC now owns 1,700 shares of the industrial products company’s stock worth $225,000 after purchasing an additional 161 shares in the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its stake in Packaging Co. of America by 16.7% in the 3rd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 700 shares of the industrial products company’s stock worth $107,000 after purchasing an additional 100 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its stake in Packaging Co. of America by 14.2% in the 3rd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 86,831 shares of the industrial products company’s stock worth $13,333,000 after purchasing an additional 10,769 shares in the last quarter. Finally, Bahl & Gaynor Inc. lifted its stake in Packaging Co. of America by 114.4% in the 3rd quarter. Bahl & Gaynor Inc. now owns 103,625 shares of the industrial products company’s stock worth $15,912,000 after purchasing an additional 55,282 shares in the last quarter. 90.53% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on PKG shares. Citigroup raised their price objective on shares of Packaging Co. of America from $150.00 to $158.00 and gave the company a “neutral” rating in a research report on Wednesday, October 25th. Wells Fargo & Company raised their price objective on shares of Packaging Co. of America from $147.00 to $173.00 and gave the company an “equal weight” rating in a research report on Thursday, November 30th. Seaport Res Ptn cut shares of Packaging Co. of America from a “buy” rating to a “neutral” rating in a research report on Monday, January 29th. Jefferies Financial Group lowered their price objective on shares of Packaging Co. of America from $142.00 to $140.00 and set a “hold” rating on the stock in a research report on Wednesday, October 18th. Finally, Truist Financial raised their price objective on shares of Packaging Co. of America from $170.00 to $187.00 and gave the company a “buy” rating in a research report on Thursday, January 4th. Five research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $154.67.

Check Out Our Latest Analysis on Packaging Co. of America

Packaging Co. of America Price Performance

Shares of NYSE:PKG opened at $168.33 on Monday. The stock has a market cap of $15.09 billion, a PE ratio of 19.85, a PEG ratio of 4.12 and a beta of 0.76. The company’s fifty day moving average is $165.31 and its 200 day moving average is $156.63. Packaging Co. of America has a 52 week low of $122.20 and a 52 week high of $176.96. The company has a quick ratio of 1.40, a current ratio of 2.17 and a debt-to-equity ratio of 0.54.

Packaging Co. of America (NYSE:PKGGet Free Report) last announced its quarterly earnings results on Thursday, January 25th. The industrial products company reported $2.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.83 by $0.30. The business had revenue of $1.94 billion for the quarter, compared to analyst estimates of $1.90 billion. Packaging Co. of America had a net margin of 9.81% and a return on equity of 20.47%. The company’s revenue was down 2.0% on a year-over-year basis. During the same quarter last year, the firm earned $2.35 EPS. Research analysts anticipate that Packaging Co. of America will post 8.17 earnings per share for the current year.

Packaging Co. of America Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, January 15th. Shareholders of record on Monday, December 18th were issued a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a yield of 2.97%. The ex-dividend date of this dividend was Friday, December 15th. Packaging Co. of America’s dividend payout ratio (DPR) is presently 58.96%.

Packaging Co. of America Profile

(Free Report)

Packaging Corporation of America manufactures and sells containerboard and corrugated packaging products in the United States. The company operates through Packaging and Paper segments. The Packaging segment offers various containerboard and corrugated packaging products, such as conventional shipping containers used to protect and transport manufactured goods; multi-color boxes and displays that help to merchandise the packaged product in retail locations; and honeycomb protective packaging products, as well as packaging for meat, fresh fruit and vegetables, processed food, beverages, and other industrial and consumer products.

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Institutional Ownership by Quarter for Packaging Co. of America (NYSE:PKG)

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