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

California Public Employees Retirement System lowered its holdings in shares of Packaging Co. of America (NYSE:PKG - Free Report) by 2.5% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 156,445 shares of the industrial products company's stock after selling 3,930 shares during the period. California Public Employees Retirement System owned about 0.17% of Packaging Co. of America worth $35,220,000 as of its most recent filing with the SEC.

A number of other large investors also recently added to or reduced their stakes in the business. Fortitude Family Office LLC grew 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 worth $37,000 after acquiring an additional 98 shares during the last quarter. Centricity Wealth Management LLC purchased a new stake in shares of Packaging Co. of America during the fourth quarter valued at approximately $44,000. Golden State Wealth Management LLC bought a new position in shares of Packaging Co. of America in the fourth quarter worth approximately $48,000. Rialto Wealth Management LLC purchased a new position in shares of Packaging Co. of America in the fourth quarter worth $63,000. Finally, Intact Investment Management Inc. bought a new stake in Packaging Co. of America during the 4th quarter valued at $68,000. Hedge funds and other institutional investors own 89.78% of the company's stock.

Packaging Co. of America Stock Down 1.5 %

Shares of NYSE:PKG traded down $2.77 during trading on Monday, hitting $180.65. The stock had a trading volume of 1,432,542 shares, compared to its average volume of 687,666. The company has a market capitalization of $16.25 billion, a PE ratio of 20.23, a PEG ratio of 2.41 and a beta of 0.84. 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's fifty day moving average is $204.73 and its 200 day moving average is $221.42. Packaging Co. of America has a 12 month low of $169.00 and a 12 month high of $250.82.

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Packaging Co. of America (NYSE:PKG - Get Free Report) last posted its quarterly earnings data on Tuesday, January 28th. The industrial products company reported $2.47 earnings per share (EPS) 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%. Analysts anticipate that Packaging Co. of America will post 10.44 EPS for the current fiscal year.

Packaging Co. of America Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Friday, March 14th will be given a $1.25 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.77%. Packaging Co. of America's dividend payout ratio is currently 55.99%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on PKG shares. Seaport Res Ptn raised shares of Packaging Co. of America from a "hold" rating to a "strong-buy" rating in a report on Thursday, February 13th. Citigroup raised their target price on Packaging Co. of America from $232.00 to $235.00 and gave the stock a "neutral" rating in a research note on Monday, January 6th. Jefferies Financial Group raised Packaging Co. of America from a "hold" rating to a "buy" rating and upped their price target for the company from $215.00 to $280.00 in a research report on Wednesday, December 18th. Wells Fargo & Company cut 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, Truist Financial restated a "buy" rating and set a $265.00 target price (down previously from $282.00) on shares of Packaging Co. of America in a report on Thursday, January 30th. Three investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $233.00.

Packaging Co. of America Company 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.