Teacher Retirement System of Texas Has $21.12 Million Stock Holdings in Packaging Corporation of America (NYSE:PKG)

Teacher Retirement System of Texas cut its stake in shares of Packaging Corporation of America (NYSE:PKG - Free Report) by 22.2% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 106,656 shares of the industrial products company's stock after selling 30,492 shares during the period. Teacher Retirement System of Texas owned approximately 0.12% of Packaging Corporation of America worth $21,120,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of PKG. Jackson Creek Investment Advisors LLC acquired a new stake in shares of Packaging Corporation of America during the 4th quarter valued at approximately $293,000. AlphaQuest LLC lifted its stake in shares of Packaging Corporation of America by 25.3% during the 4th quarter. AlphaQuest LLC now owns 9,683 shares of the industrial products company's stock worth $2,180,000 after purchasing an additional 1,954 shares during the period. Distillate Capital Partners LLC acquired a new stake in Packaging Corporation of America in the 4th quarter worth about $15,828,000. Sciencast Management LP purchased a new stake in Packaging Corporation of America in the fourth quarter valued at approximately $2,853,000. Finally, Korea Investment CORP grew its stake in shares of Packaging Corporation of America by 96.0% during the 4th quarter. Korea Investment CORP now owns 71,004 shares of the industrial products company's stock valued at $15,985,000 after buying an additional 34,784 shares during the period. 89.78% of the stock is owned by institutional investors and hedge funds.

Packaging Corporation of America Stock Up 0.2%

Packaging Corporation of America stock traded up $0.35 during mid-day trading on Friday, hitting $202.29. The company's stock had a trading volume of 393,100 shares, compared to its average volume of 744,402. Packaging Corporation of America has a 52-week low of $172.72 and a 52-week high of $250.82. The company has a market cap of $18.20 billion, a PE ratio of 21.16, a price-to-earnings-growth ratio of 2.67 and a beta of 0.82. The company has a debt-to-equity ratio of 0.55, a current ratio of 3.28 and a quick ratio of 2.15. The firm's 50 day moving average is $190.63 and its 200 day moving average is $203.02.

Packaging Corporation of America (NYSE:PKG - Get Free Report) last posted its earnings results on Tuesday, April 22nd. The industrial products company reported $2.31 EPS for the quarter, topping the consensus estimate of $2.21 by $0.10. Packaging Corporation of America had a net margin of 10.09% and a return on equity of 20.08%. The company had revenue of $2.14 billion during the quarter, compared to the consensus estimate of $2.12 billion. On average, analysts anticipate that Packaging Corporation of America will post 10.44 earnings per share for the current year.

Packaging Corporation of America Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Friday, June 13th will be issued a $1.25 dividend. The ex-dividend date is Friday, June 13th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.47%. Packaging Corporation of America's payout ratio is presently 52.30%.

Analysts Set New Price Targets

A number of research firms have recently issued reports on PKG. UBS Group assumed coverage on Packaging Corporation of America in a research note on Wednesday, June 4th. They issued a "neutral" rating and a $200.00 target price for the company. Jefferies Financial Group downgraded Packaging Corporation of America from a "buy" rating to a "hold" rating and dropped their price objective for the stock from $245.00 to $205.00 in a report on Monday, June 16th. Truist Financial upped their target price on Packaging Corporation of America from $237.00 to $239.00 and gave the company a "buy" rating in a research report on Tuesday, June 17th. Wall Street Zen downgraded shares of Packaging Corporation of America from a "buy" rating to a "hold" rating in a research report on Sunday, April 6th. Finally, Wells Fargo & Company restated an "equal weight" rating and issued a $180.00 price target (down previously from $205.00) on shares of Packaging Corporation of America in a research note on Friday, May 9th. Five research analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $211.80.

Packaging Corporation 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.