New York State Common Retirement Fund Has $15.47 Million Stake in Packaging Co. of America (NYSE:PKG)

New York State Common Retirement Fund lessened its holdings in Packaging Co. of America (NYSE:PKG - Free Report) by 9.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 94,963 shares of the industrial products company's stock after selling 9,824 shares during the period. New York State Common Retirement Fund owned 0.11% of Packaging Co. of America worth $15,470,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of PKG. Annis Gardner Whiting Capital Advisors LLC purchased a new position in Packaging Co. of America in the 3rd quarter valued at about $25,000. Anchor Investment Management LLC purchased a new position in shares of Packaging Co. of America during the 4th quarter worth $37,000. Fortis Group Advisors LLC acquired a new stake in Packaging Co. of America in the 3rd quarter worth about $46,000. BKM Wealth Management LLC purchased a new stake in Packaging Co. of America in the fourth quarter valued at approximately $49,000. Finally, Orion Capital Management LLC purchased a new stake in shares of Packaging Co. of America during the 3rd quarter valued at $53,000. Hedge funds and other institutional investors own 89.78% of the company's stock.

Packaging Co. of America Stock Performance

Shares of PKG traded down $4.07 during midday trading on Tuesday, hitting $172.98. 478,949 shares of the stock traded hands, compared to its average volume of 696,576. Packaging Co. of America has a 1-year low of $122.20 and a 1-year high of $191.27. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.77 and a current ratio of 2.57. The firm has a market capitalization of $15.52 billion, a PE ratio of 21.62, a price-to-earnings-growth ratio of 4.21 and a beta of 0.78. The business's 50 day moving average price is $182.10 and its two-hundred day moving average price is $168.58.

Packaging Co. of America (NYSE:PKG - Get Free Report) last released its quarterly earnings results on Tuesday, April 23rd. The industrial products company reported $1.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.63 by $0.09. The company had revenue of $1.98 billion during the quarter, compared to analysts' expectations of $1.91 billion. Packaging Co. of America had a return on equity of 18.94% and a net margin of 9.25%. The company's revenue for the quarter was up .2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.20 earnings per share. Equities research analysts predict that Packaging Co. of America will post 8.2 EPS for the current fiscal year.

Packaging Co. of America Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Friday, March 15th were given a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a dividend yield of 2.89%. The ex-dividend date of this dividend was Thursday, March 14th. Packaging Co. of America's dividend payout ratio (DPR) is presently 62.50%.

Insider Buying and Selling

In related news, CFO Robert P. Mundy sold 10,000 shares of Packaging Co. of America stock in a transaction on 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 transaction, the chief financial officer now directly owns 46,454 shares in the company, valued at approximately $8,478,319.54. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Packaging Co. of America news, CFO Robert P. Mundy sold 10,000 shares of Packaging Co. of America stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $182.51, for a total transaction of $1,825,100.00. Following the transaction, the chief financial officer now directly owns 46,454 shares in the company, valued at approximately $8,478,319.54. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Thomas A. Hassfurther sold 13,850 shares of the stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $181.06, for a total value of $2,507,681.00. Following the completion of the sale, the vice president now owns 187,647 shares of the company's stock, valued at approximately $33,975,365.82. The disclosure for this sale can be found here. Insiders have sold a total of 38,041 shares of company stock valued at $6,799,177 over the last three months. Company insiders own 1.70% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on PKG. Truist Financial increased their price objective on shares of Packaging Co. of America from $170.00 to $187.00 and gave the stock a "buy" rating in a research report on Thursday, January 4th. Citigroup lowered their target price on Packaging Co. of America from $183.00 to $181.00 and set a "neutral" rating for the company in a research note on Thursday, April 25th. Seaport Res Ptn downgraded Packaging Co. of America from a "buy" rating to a "neutral" rating in a report on Monday, January 29th. StockNews.com downgraded shares of Packaging Co. of America from a "buy" rating to a "hold" rating in a research report on Friday, April 19th. Finally, Bank of America raised shares of Packaging Co. of America from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $172.00 to $202.00 in a research report on Monday, March 4th. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, Packaging Co. of America has a consensus rating of "Hold" and a consensus target price of $173.57.

About Packaging Co. of America

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.