Kentucky Retirement Systems Has $1.34 Million Stock Position in Packaging Co. of America (NYSE:PKG)

Kentucky Retirement Systems lessened its holdings in Packaging Co. of America (NYSE:PKG) by 7.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,212 shares of the industrial products company’s stock after selling 506 shares during the period. Kentucky Retirement Systems’ holdings in Packaging Co. of America were worth $1,338,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. CANADA LIFE ASSURANCE Co raised its stake in shares of Packaging Co. of America by 4.6% in the first quarter. CANADA LIFE ASSURANCE Co now owns 70,689 shares of the industrial products company’s stock worth $13,419,000 after purchasing an additional 3,078 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp lifted its stake in Packaging Co. of America by 30.4% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 90,686 shares of the industrial products company’s stock valued at $17,168,000 after acquiring an additional 21,143 shares in the last quarter. Summit Financial Strategies Inc. boosted its holdings in Packaging Co. of America by 5.5% during the 2nd quarter. Summit Financial Strategies Inc. now owns 234,495 shares of the industrial products company’s stock worth $42,809,000 after acquiring an additional 12,129 shares during the last quarter. DekaBank Deutsche Girozentrale grew its stake in shares of Packaging Co. of America by 6.8% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 224,273 shares of the industrial products company’s stock worth $41,839,000 after acquiring an additional 14,277 shares in the last quarter. Finally, M&G Plc purchased a new stake in shares of Packaging Co. of America in the second quarter valued at about $840,000. Institutional investors own 89.78% of the company’s stock.

Insider Transactions at Packaging Co. of America

In other Packaging Co. of America news, CFO Robert P. Mundy sold 12,500 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $240.62, for a total value of $3,007,750.00. Following the completion of the transaction, the chief financial officer now owns 43,954 shares of the company’s stock, valued at $10,576,211.48. The trade was a 22.14 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Donald R. Shirley sold 8,000 shares of the stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $240.20, for a total transaction of $1,921,600.00. Following the completion of the transaction, the senior vice president now directly owns 15,725 shares in the company, valued at $3,777,145. The trade was a 33.72 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.60% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Wells Fargo & Company boosted their price target on shares of Packaging Co. of America from $235.00 to $253.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. Truist Financial restated a “buy” rating and issued a $252.00 target price (up previously from $242.00) on shares of Packaging Co. of America in a research note on Thursday, October 24th. Citigroup increased their price target on Packaging Co. of America from $199.00 to $221.00 and gave the company a “neutral” rating in a research report on Wednesday, October 2nd. Finally, StockNews.com raised Packaging Co. of America from a “hold” rating to a “buy” rating in a research report on Tuesday, November 12th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, Packaging Co. of America presently has a consensus rating of “Moderate Buy” and an average price target of $221.60.

Packaging Co. of America Price Performance

Shares of NYSE:PKG opened at $238.11 on Tuesday. The company has a 50-day moving average price of $221.90 and a two-hundred day moving average price of $200.74. Packaging Co. of America has a twelve month low of $148.50 and a twelve month high of $245.00. The company has a quick ratio of 1.98, a current ratio of 2.95 and a debt-to-equity ratio of 0.58. The firm has a market capitalization of $21.38 billion, a PE ratio of 27.75, a P/E/G ratio of 3.31 and a beta of 0.76.

Packaging Co. of America (NYSE:PKG) last released its quarterly earnings data on Tuesday, October 22nd. The industrial products company reported $2.65 earnings per share for the quarter, beating analysts’ consensus estimates of $2.50 by $0.15. Packaging Co. of America had a net margin of 9.46% and a return on equity of 19.10%. The business had revenue of $2.18 billion during the quarter, compared to analyst estimates of $2.09 billion. During the same period in the previous year, the business earned $2.05 EPS. Packaging Co. of America’s revenue was up 14.9% compared to the same quarter last year. Equities analysts forecast that Packaging Co. of America will post 9.07 EPS for the current year.

Packaging Co. of America Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Tuesday, October 15th were given a dividend of $1.25 per share. The ex-dividend date was Monday, September 16th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.10%. Packaging Co. of America’s dividend payout ratio (DPR) is currently 58.28%.

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.