Public Employees Retirement System of Ohio Has $8.13 Million Stock Position in Packaging Co. of America (NYSE:PKG)

Public Employees Retirement System of Ohio lowered its stake in Packaging Co. of America (NYSE:PKG - Free Report) by 7.2% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 37,750 shares of the industrial products company's stock after selling 2,941 shares during the quarter. Public Employees Retirement System of Ohio's holdings in Packaging Co. of America were worth $8,131,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the stock. 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. Coldstream Capital Management Inc. lifted its stake in Packaging Co. of America by 1.4% in the second quarter. Coldstream Capital Management Inc. now owns 3,859 shares of the industrial products company's stock valued at $704,000 after acquiring an additional 54 shares during the last quarter. Huntington National Bank grew its position in shares of Packaging Co. of America by 0.5% in the 3rd quarter. Huntington National Bank now owns 10,075 shares of the industrial products company's stock valued at $2,170,000 after acquiring an additional 55 shares during the period. Daiwa Securities Group Inc. increased its stake in shares of Packaging Co. of America by 0.6% during the 2nd quarter. Daiwa Securities Group Inc. now owns 9,713 shares of the industrial products company's stock worth $1,773,000 after purchasing an additional 56 shares during the last quarter. Finally, Moors & Cabot Inc. increased its stake in shares of Packaging Co. of America by 2.1% during the 2nd quarter. Moors & Cabot Inc. now owns 2,689 shares of the industrial products company's stock worth $491,000 after purchasing an additional 56 shares during the last quarter. 89.78% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, SVP Donald R. Shirley sold 8,000 shares of the firm's stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $240.20, for a total transaction of $1,921,600.00. Following the completion of the transaction, the senior vice president now directly owns 15,725 shares in the company, valued at $3,777,145. This trade represents a 33.72 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Joseph Vaughn sold 2,300 shares of the company's stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $244.89, for a total value of $563,247.00. Following the completion of the sale, the senior vice president now owns 9,197 shares in the company, valued at $2,252,253.33. The trade was a 20.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 33,300 shares of company stock valued at $8,064,152 over the last quarter. 1.60% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Truist Financial reiterated a "buy" rating and set a $252.00 price target (up previously from $242.00) on shares of Packaging Co. of America in a report on Thursday, October 24th. Citigroup upped their price objective on shares of Packaging Co. of America from $199.00 to $221.00 and gave the company a "neutral" rating in a report on Wednesday, October 2nd. StockNews.com raised shares of Packaging Co. of America from a "hold" rating to a "buy" rating in a report on Tuesday, December 3rd. Finally, Wells Fargo & Company upped their target price on Packaging Co. of America from $235.00 to $253.00 and gave the company an "overweight" rating in a research report on Thursday, October 24th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $221.60.

Packaging Co. of America Price Performance

Shares of PKG traded down $0.88 during trading hours on Friday, hitting $238.21. 851,532 shares of the company were exchanged, compared to its average volume of 602,469. Packaging Co. of America has a fifty-two week low of $159.57 and a fifty-two week high of $250.82. The firm's fifty day moving average is $233.12 and its 200 day moving average is $208.37. 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 company has a market cap of $21.39 billion, a price-to-earnings ratio of 27.86, a P/E/G ratio of 3.35 and a beta of 0.77.

Packaging Co. of America (NYSE:PKG - Get Free Report) last issued its quarterly earnings results on Tuesday, October 22nd. The industrial products company reported $2.65 earnings per share for the quarter, topping analysts' consensus estimates of $2.50 by $0.15. The company had revenue of $2.18 billion during the quarter, compared to the consensus estimate of $2.09 billion. Packaging Co. of America had a net margin of 9.46% and a return on equity of 19.10%. The firm's quarterly revenue was up 14.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.05 EPS. On average, equities analysts anticipate that Packaging Co. of America will post 9.07 earnings per share for the current fiscal year.

Packaging Co. of America Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Friday, December 20th will be given a $1.25 dividend. The ex-dividend date is Friday, December 20th. This represents a $5.00 dividend on an annualized basis and a yield of 2.10%. Packaging Co. of America's dividend payout ratio is currently 58.28%.

Packaging Co. of America Company Profile

Packaging Corporation of America manufactures and sells containerboard and corrugated packaging products in the United States. The company operates through three segments: Packaging, Paper, and Corporate and Other. 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.