Public Employees Retirement System of Ohio Cuts Stake in Packaging Co. of America (NYSE:PKG)

Public Employees Retirement System of Ohio lessened its holdings in shares of Packaging Co. of America (NYSE:PKG - Free Report) by 8.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 34,595 shares of the industrial products company's stock after selling 3,155 shares during the period. Public Employees Retirement System of Ohio's holdings in Packaging Co. of America were worth $7,788,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of PKG. Centricity Wealth Management LLC purchased a new position in shares of Packaging Co. of America during the fourth quarter valued at approximately $44,000. Lazard Asset Management LLC boosted its position in shares of Packaging Co. of America by 1,033.3% during the fourth quarter. Lazard Asset Management LLC now owns 204 shares of the industrial products company's stock valued at $45,000 after buying an additional 186 shares during the period. Golden State Wealth Management LLC purchased a new position in shares of Packaging Co. of America during the fourth quarter valued at approximately $48,000. Rialto Wealth Management LLC purchased a new position in shares of Packaging Co. of America during the fourth quarter valued at approximately $63,000. Finally, Intact Investment Management Inc. purchased a new position in shares of Packaging Co. of America during the fourth quarter valued at approximately $68,000. Hedge funds and other institutional investors own 89.78% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on PKG shares. Wall Street Zen downgraded shares of Packaging Co. of America from a "buy" rating to a "hold" rating in a research note on Sunday, April 6th. 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. Wells Fargo & Company reaffirmed an "equal weight" rating and set a $180.00 price target (down previously from $205.00) on shares of Packaging Co. of America in a research note on Friday, May 9th. Finally, Truist Financial decreased their price target on shares of Packaging Co. of America from $265.00 to $238.00 and set a "buy" rating for the company in a research note on Tuesday, April 22nd. Three equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $226.60.

Packaging Co. of America Trading Up 0.0%

Shares of Packaging Co. of America stock traded up $0.02 on Friday, hitting $193.02. 1,062,503 shares of the company traded hands, compared to its average volume of 723,442. The company has a market cap of $17.37 billion, a PE ratio of 21.61, a PEG ratio of 2.41 and a beta of 0.85. Packaging Co. of America has a 52 week low of $172.72 and a 52 week high of $250.82. The company has a current ratio of 2.95, a quick ratio of 1.98 and a debt-to-equity ratio of 0.58. The stock's 50 day moving average price is $188.67 and its 200-day moving average price is $211.30.

Packaging Co. of America (NYSE:PKG - Get Free Report) last issued its quarterly earnings data on Tuesday, April 22nd. The industrial products company reported $2.31 EPS for the quarter, topping analysts' consensus estimates of $2.21 by $0.10. The company 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%. Equities research analysts predict that Packaging Co. of America will post 10.44 EPS for the current year.

Packaging Co. of America Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Investors 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 2.59%. The ex-dividend date is Friday, June 13th. Packaging Co. of America's dividend payout ratio (DPR) is 52.30%.

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.