California State Teachers Retirement System Trims Stock Position in Packaging Co. of America (NYSE:PKG)

California State Teachers Retirement System trimmed its holdings in Packaging Co. of America (NYSE:PKG - Free Report) by 4.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 106,874 shares of the industrial products company's stock after selling 4,722 shares during the period. California State Teachers Retirement System owned 0.12% of Packaging Co. of America worth $24,061,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the business. 111 Capital acquired a new position in Packaging Co. of America in the 4th quarter valued at about $1,256,000. Wealth Enhancement Advisory Services LLC increased its position in Packaging Co. of America by 2.3% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 27,108 shares of the industrial products company's stock worth $6,103,000 after buying an additional 607 shares during the period. Aegis Wealth Management LLC acquired a new position in shares of Packaging Co. of America in the fourth quarter valued at about $383,000. Siemens Fonds Invest GmbH raised its stake in Packaging Co. of America by 155.4% in the 4th quarter. Siemens Fonds Invest GmbH now owns 4,566 shares of the industrial products company's stock worth $1,028,000 after purchasing an additional 2,778 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Packaging Co. of America during the 4th quarter worth approximately $32,786,000. Institutional investors own 89.78% of the company's stock.

Packaging Co. of America Stock Down 0.5%

Shares of PKG stock traded down $1.00 on Monday, reaching $192.17. 299,043 shares of the company were exchanged, compared to its average volume of 721,772. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.95 and a quick ratio of 1.98. The company has a 50-day moving average of $188.67 and a 200-day moving average of $211.13. The company has a market cap of $17.29 billion, a price-to-earnings ratio of 21.52, a PEG ratio of 2.41 and a beta of 0.85. Packaging Co. of America has a one year low of $172.72 and a one year high of $250.82.

Packaging Co. of America (NYSE:PKG - Get Free Report) last posted its quarterly earnings results on Tuesday, April 22nd. The industrial products company reported $2.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.21 by $0.10. The business had revenue of $2.14 billion during the quarter, compared to the consensus estimate of $2.12 billion. Packaging Co. of America had a net margin of 9.60% and a return on equity of 19.67%. Analysts anticipate that Packaging Co. of America will post 10.44 earnings per share for the current year.

Packaging Co. of America Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Friday, June 13th will be paid a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a yield of 2.60%. The ex-dividend date of this dividend is Friday, June 13th. Packaging Co. of America's payout ratio is 52.30%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Truist Financial decreased their price target on Packaging Co. of America from $265.00 to $238.00 and set a "buy" rating on the stock in a research report on Tuesday, April 22nd. Wall Street Zen lowered Packaging Co. of America from a "buy" rating to a "hold" rating in a research note on Sunday, April 6th. Wells Fargo & Company reissued an "equal weight" rating and set a $180.00 target price (down previously from $205.00) on shares of Packaging Co. of America in a research report on Friday, May 9th. Finally, Seaport Res Ptn raised shares of Packaging Co. of America from a "hold" rating to a "strong-buy" rating in a research note on Thursday, February 13th. Three analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $226.60.

Packaging Co. of America 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.