Teachers Retirement System of The State of Kentucky Has $6.93 Million Stake in Packaging Co. of America (NYSE:PKG)

Teachers Retirement System of The State of Kentucky trimmed its holdings in shares of Packaging Co. of America (NYSE:PKG) by 10.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 57,501 shares of the industrial products company’s stock after selling 6,513 shares during the quarter. Teachers Retirement System of The State of Kentucky owned approximately 0.06% of Packaging Co. of America worth $6,932,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. BlackRock Inc. grew its holdings in Packaging Co. of America by 0.8% in the 4th quarter. BlackRock Inc. now owns 10,061,963 shares of the industrial products company’s stock valued at $1,212,968,000 after buying an additional 75,165 shares in the last quarter. Wells Fargo & Company MN grew its holdings in shares of Packaging Co. of America by 0.6% during the 4th quarter. Wells Fargo & Company MN now owns 2,328,705 shares of the industrial products company’s stock worth $280,725,000 after purchasing an additional 12,949 shares during the period. Victory Capital Management Inc. grew its holdings in shares of Packaging Co. of America by 7,416.1% during the 4th quarter. Victory Capital Management Inc. now owns 1,383,784 shares of the industrial products company’s stock worth $166,815,000 after purchasing an additional 1,365,373 shares during the period. APG Asset Management N.V. grew its holdings in shares of Packaging Co. of America by 28.1% during the 4th quarter. APG Asset Management N.V. now owns 1,248,128 shares of the industrial products company’s stock worth $125,301,000 after purchasing an additional 273,900 shares during the period. Finally, Geode Capital Management LLC grew its holdings in shares of Packaging Co. of America by 3.8% during the 4th quarter. Geode Capital Management LLC now owns 1,085,075 shares of the industrial products company’s stock worth $130,554,000 after purchasing an additional 39,408 shares during the period. 88.84% of the stock is owned by institutional investors and hedge funds.

Several equities analysts recently issued reports on the company. Zacks Investment Research lowered Packaging Co. of America from a “hold” rating to a “sell” rating in a research note on Tuesday, December 19th. BMO Capital Markets reaffirmed a “buy” rating and issued a $130.00 price target on shares of Packaging Co. of America in a research report on Thursday, January 25th. KeyCorp reaffirmed a “hold” rating on shares of Packaging Co. of America in a research report on Friday, February 2nd. Citigroup cut their target price on Packaging Co. of America from $136.00 to $123.00 and set a “neutral” rating on the stock in a research report on Thursday. Finally, Wells Fargo reissued a “market perform” rating and set a $130.00 target price (up previously from $115.00) on shares of Packaging Co. of America in a research report on Monday, January 8th. Seven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $128.92.

Packaging Co. of America stock opened at $110.14 on Friday. The company has a current ratio of 2.30, a quick ratio of 1.38 and a debt-to-equity ratio of 1.15. Packaging Co. of America has a 1-year low of $89.73 and a 1-year high of $131.13. The company has a market capitalization of $10,676.63, a P/E ratio of 18.30, a price-to-earnings-growth ratio of 1.78 and a beta of 1.82.

Packaging Co. of America (NYSE:PKG) last posted its quarterly earnings results on Tuesday, January 30th. The industrial products company reported $1.56 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.51 by $0.05. The firm had revenue of $1.68 billion for the quarter, compared to the consensus estimate of $1.61 billion. Packaging Co. of America had a return on equity of 28.85% and a net margin of 10.37%. The company’s revenue for the quarter was up 14.1% compared to the same quarter last year. During the same period in the previous year, the business earned $1.23 earnings per share. equities analysts anticipate that Packaging Co. of America will post 7.62 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 13th. Investors of record on Thursday, March 15th will be issued a dividend of $0.63 per share. The ex-dividend date of this dividend is Wednesday, March 14th. This represents a $2.52 annualized dividend and a yield of 2.29%. Packaging Co. of America’s dividend payout ratio is presently 41.86%.

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Packaging Co. of America Company Profile

Packaging Corporation of America manufactures and sells containerboard and corrugated packaging products primarily in the United States. The company's Packaging segment offers various 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.

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

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