California Public Employees Retirement System Sells 9,061 Shares of Packaging Co. of America (NYSE:PKG)

California Public Employees Retirement System lowered its holdings in Packaging Co. of America (NYSE:PKG - Free Report) by 5.0% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 172,419 shares of the industrial products company's stock after selling 9,061 shares during the period. California Public Employees Retirement System owned about 0.19% of Packaging Co. of America worth $28,089,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Foster & Motley Inc. purchased a new position in Packaging Co. of America in the fourth quarter valued at about $209,000. Monument Capital Management acquired a new stake in Packaging Co. of America during the fourth quarter valued at approximately $294,000. Duality Advisers LP acquired a new stake in Packaging Co. of America during the fourth quarter valued at approximately $391,000. Handelsbanken Fonder AB raised its stake in Packaging Co. of America by 1.0% during the fourth quarter. Handelsbanken Fonder AB now owns 50,376 shares of the industrial products company's stock valued at $8,207,000 after buying an additional 503 shares in the last quarter. Finally, CWM LLC raised its stake in Packaging Co. of America by 46.8% during the fourth quarter. CWM LLC now owns 2,652 shares of the industrial products company's stock valued at $432,000 after buying an additional 845 shares in the last quarter. Hedge funds and other institutional investors own 89.78% of the company's stock.

Insiders Place Their Bets

In other Packaging Co. of America news, CFO Robert P. Mundy sold 10,000 shares of the business's stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $182.51, for a total value of $1,825,100.00. Following the completion of the sale, the chief financial officer now owns 46,454 shares of the company's stock, valued at $8,478,319.54. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, VP Thomas A. Hassfurther sold 14,191 shares of Packaging Co. of America stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $173.80, for a total value of $2,466,395.80. Following the transaction, the vice president now directly owns 183,930 shares in the company, valued at $31,967,034. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Robert P. Mundy sold 10,000 shares of Packaging Co. of America stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $182.51, for a total value of $1,825,100.00. Following the completion of the transaction, the chief financial officer now owns 46,454 shares in the company, valued at $8,478,319.54. The disclosure for this sale can be found here. Insiders sold 38,041 shares of company stock valued at $6,799,177 over the last quarter. Insiders own 1.60% of the company's stock.

Packaging Co. of America Stock Up 0.9 %

PKG traded up $1.60 during trading on Friday, reaching $172.85. 497,295 shares of the stock traded hands, compared to its average volume of 649,126. The stock has a market cap of $15.51 billion, a price-to-earnings ratio of 21.61, a price-to-earnings-growth ratio of 4.21 and a beta of 0.78. Packaging Co. of America has a fifty-two week low of $122.20 and a fifty-two week high of $191.27. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.57 and a quick ratio of 1.77. The stock's 50-day simple moving average is $181.92 and its two-hundred day simple moving average is $168.41.

Packaging Co. of America (NYSE:PKG - Get Free Report) last released its quarterly earnings data on Tuesday, April 23rd. The industrial products company reported $1.72 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.63 by $0.09. Packaging Co. of America had a return on equity of 18.94% and a net margin of 9.25%. The firm had revenue of $1.98 billion during the quarter, compared to analysts' expectations of $1.91 billion. During the same quarter last year, the firm earned $2.20 earnings per share. The business's revenue for the quarter was up .2% on a year-over-year basis. As a group, equities research analysts expect that Packaging Co. of America will post 8.2 EPS for the current year.

Packaging Co. of America Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Friday, March 15th were given a $1.25 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.89%. Packaging Co. of America's dividend payout ratio is currently 62.50%.

Wall Street Analyst Weigh In

PKG has been the topic of several research reports. Wells Fargo & Company upgraded Packaging Co. of America from an "equal weight" rating to an "overweight" rating and upped their price objective for the company from $187.00 to $191.00 in a research note on Wednesday. StockNews.com cut Packaging Co. of America from a "buy" rating to a "hold" rating in a research note on Friday, April 19th. Truist Financial upped their price objective on Packaging Co. of America from $170.00 to $187.00 and gave the company a "buy" rating in a research note on Thursday, January 4th. BNP Paribas cut Packaging Co. of America from an "outperform" rating to a "neutral" rating and set a $182.00 price target on the stock. in a research report on Friday, April 12th. Finally, Seaport Res Ptn cut Packaging Co. of America from a "buy" rating to a "neutral" rating in a research report on Monday, January 29th. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat.com, Packaging Co. of America currently has an average rating of "Hold" and an average price target of $173.57.

Packaging Co. of America Company 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.