Teacher Retirement System of Texas Lowers Stake in Packaging Corporation of America $PKG

Teacher Retirement System of Texas cut its position in shares of Packaging Corporation of America (NYSE:PKG) by 50.7% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 52,150 shares of the industrial products company’s stock after selling 53,636 shares during the period. Teacher Retirement System of Texas owned about 0.06% of Packaging Corporation of America worth $11,365,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in PKG. Trust Co. of Toledo NA OH bought a new stake in shares of Packaging Corporation of America in the second quarter valued at about $33,000. Geneos Wealth Management Inc. grew its holdings in Packaging Corporation of America by 40.4% during the 1st quarter. Geneos Wealth Management Inc. now owns 198 shares of the industrial products company’s stock worth $39,000 after acquiring an additional 57 shares in the last quarter. NBT Bank N A NY purchased a new position in Packaging Corporation of America during the 3rd quarter valued at about $41,000. Global Wealth Strategies & Associates purchased a new position in Packaging Corporation of America during the 3rd quarter valued at about $44,000. Finally, CYBER HORNET ETFs LLC bought a new stake in shares of Packaging Corporation of America in the 2nd quarter valued at about $44,000. Institutional investors own 89.78% of the company’s stock.

Packaging Corporation of America Price Performance

Shares of NYSE PKG opened at $225.50 on Monday. Packaging Corporation of America has a fifty-two week low of $172.71 and a fifty-two week high of $241.96. The company has a market cap of $20.29 billion, a PE ratio of 22.80, a P/E/G ratio of 1.69 and a beta of 0.88. The company has a debt-to-equity ratio of 0.84, a quick ratio of 2.00 and a current ratio of 3.16. The business has a 50-day simple moving average of $206.77 and a two-hundred day simple moving average of $206.43.

Packaging Corporation of America Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 14th. Shareholders of record on Monday, December 15th were given a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a yield of 2.2%. The ex-dividend date of this dividend was Monday, December 15th. Packaging Corporation of America’s payout ratio is currently 50.56%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on PKG. Wall Street Zen raised shares of Packaging Corporation of America from a “sell” rating to a “hold” rating in a report on Saturday, January 3rd. UBS Group increased their target price on Packaging Corporation of America from $230.00 to $235.00 and gave the company a “neutral” rating in a research report on Monday, January 12th. Citigroup cut their price target on Packaging Corporation of America from $229.00 to $226.00 and set a “neutral” rating on the stock in a report on Tuesday, January 6th. Weiss Ratings restated a “buy (b-)” rating on shares of Packaging Corporation of America in a research note on Monday, December 29th. Finally, Zacks Research raised Packaging Corporation of America from a “strong sell” rating to a “hold” rating in a research report on Tuesday, January 6th. Four equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $236.17.

About Packaging Corporation of America

Packaging Corporation of America (NYSE: PKG) is a leading North American manufacturer of containerboard and corrugated packaging products. The company produces a range of paper-based packaging solutions including linerboard, corrugating medium, corrugated shipping containers, retail-ready packaging and point-of-purchase displays. In addition to core packaging products, Packaging Corporation of America offers packaging design, testing and supply-chain services intended to optimize protection, cost and sustainability for customers.

Headquartered in Lake Forest, Illinois, the company operates an integrated network of mills and corrugated manufacturing facilities across the United States and serves customers throughout North America in industries such as e-commerce, grocery and food & beverage, consumer packaged goods and industrial markets.