Public Employees Retirement Association of Colorado Has $1.77 Million Stock Holdings in Packaging Co. of America (NYSE:PKG)

Public Employees Retirement Association of Colorado trimmed its holdings in shares of Packaging Co. of America (NYSE:PKG) by 5.9% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,702 shares of the industrial products company’s stock after selling 605 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Packaging Co. of America were worth $1,771,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Coldstream Capital Management Inc. lifted its holdings in Packaging Co. of America by 1.4% in the 2nd quarter. Coldstream Capital Management Inc. now owns 3,859 shares of the industrial products company’s stock worth $704,000 after purchasing an additional 54 shares during the last quarter. Daiwa Securities Group Inc. lifted its stake in shares of Packaging Co. of America by 0.6% in the second quarter. Daiwa Securities Group Inc. now owns 9,713 shares of the industrial products company’s stock worth $1,773,000 after buying an additional 56 shares during the last quarter. Moors & Cabot Inc. boosted its holdings 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 buying an additional 56 shares during the period. Tokio Marine Asset Management Co. Ltd. grew its stake in Packaging Co. of America by 2.8% in the 1st quarter. Tokio Marine Asset Management Co. Ltd. now owns 2,160 shares of the industrial products company’s stock valued at $410,000 after buying an additional 59 shares during the last quarter. Finally, Deseret Mutual Benefit Administrators grew its stake in Packaging Co. of America by 22.4% in the 2nd quarter. Deseret Mutual Benefit Administrators now owns 322 shares of the industrial products company’s stock valued at $59,000 after buying an additional 59 shares during the last quarter. 89.78% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on PKG shares. Bank of America upped their price target on shares of Packaging Co. of America from $197.00 to $200.00 and gave the company a “buy” rating in a report on Monday, June 17th. Wells Fargo & Company increased their target price on Packaging Co. of America from $194.00 to $215.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. Citigroup upped their price target on Packaging Co. of America from $181.00 to $187.00 and gave the stock a “neutral” rating in a report on Monday, July 8th. StockNews.com upgraded shares of Packaging Co. of America from a “hold” rating to a “buy” rating in a research note on Thursday, September 19th. Finally, Truist Financial boosted their target price on shares of Packaging Co. of America from $215.00 to $219.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $190.50.

Packaging Co. of America Price Performance

Shares of NYSE:PKG opened at $214.50 on Tuesday. The firm has a market capitalization of $19.26 billion, a PE ratio of 26.81, a PEG ratio of 4.22 and a beta of 0.77. The company has a current ratio of 2.43, a quick ratio of 1.71 and a debt-to-equity ratio of 0.60. Packaging Co. of America has a 1-year low of $143.82 and a 1-year high of $217.69. The business’s 50 day moving average is $201.00 and its 200-day moving average is $188.98.

Packaging Co. of America (NYSE:PKG) last posted its quarterly earnings results on Tuesday, July 23rd. The industrial products company reported $2.20 earnings per share for the quarter, topping analysts’ consensus estimates of $2.14 by $0.06. Packaging Co. of America had a net margin of 9.06% and a return on equity of 18.21%. The firm had revenue of $2.08 billion for the quarter, compared to the consensus estimate of $2.02 billion. During the same quarter in the previous year, the company earned $2.31 earnings per share. The business’s revenue was up 6.3% compared to the same quarter last year. Sell-side analysts predict that Packaging Co. of America will post 8.72 earnings per share for the current year.

Packaging Co. of America Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 16th will be issued a dividend of $1.25 per share. The ex-dividend date of this dividend is Monday, September 16th. This represents a $5.00 dividend on an annualized basis and a yield of 2.33%. Packaging Co. of America’s dividend payout ratio is 62.50%.

Insider Buying and Selling at Packaging Co. of America

In other news, EVP Charles J. Carter sold 5,389 shares of the firm’s stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $196.28, for a total value of $1,057,752.92. Following the completion of the sale, the executive vice president now directly owns 25,539 shares in the company, valued at $5,012,794.92. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other Packaging Co. of America news, EVP Charles J. Carter sold 5,389 shares of the company’s stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $196.28, for a total transaction of $1,057,752.92. Following the transaction, the executive vice president now owns 25,539 shares of the company’s stock, valued at approximately $5,012,794.92. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Donald R. Shirley sold 6,000 shares of Packaging Co. of America stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $196.28, for a total transaction of $1,177,680.00. Following the sale, the senior vice president now owns 20,772 shares of the company’s stock, valued at approximately $4,077,128.16. The disclosure for this sale can be found here. Corporate insiders own 1.60% of the company’s stock.

Packaging Co. of America 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.