Retirement Systems of Alabama Sells 153 Shares of Packaging Co. of America (NYSE:PKG)

Retirement Systems of Alabama reduced its stake in Packaging Co. of America (NYSE:PKG) by 0.1% in the 4th quarter, HoldingsChannel reports. The firm owned 218,535 shares of the industrial products company’s stock after selling 153 shares during the quarter. Retirement Systems of Alabama’s holdings in Packaging Co. of America were worth $49,199,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Larson Financial Group LLC boosted its stake in Packaging Co. of America by 234.7% in the third quarter. Larson Financial Group LLC now owns 164 shares of the industrial products company’s stock valued at $35,000 after acquiring an additional 115 shares during the last quarter. Fortitude Family Office LLC raised its position in shares of Packaging Co. of America by 150.8% during the 4th quarter. Fortitude Family Office LLC now owns 163 shares of the industrial products company’s stock valued at $37,000 after buying an additional 98 shares in the last quarter. Assetmark Inc. raised its position in shares of Packaging Co. of America by 44.6% during the 3rd quarter. Assetmark Inc. now owns 269 shares of the industrial products company’s stock valued at $58,000 after buying an additional 83 shares in the last quarter. Brooklyn Investment Group purchased a new position in Packaging Co. of America in the 3rd quarter worth $64,000. Finally, Allworth Financial LP raised its position in Packaging Co. of America by 65.1% in the 3rd quarter. Allworth Financial LP now owns 312 shares of the industrial products company’s stock worth $67,000 after purchasing an additional 123 shares during the period. 89.78% of the stock is owned by institutional investors.

Insider Buying and Selling at Packaging Co. of America

In related news, SVP Joseph Vaughn sold 2,300 shares of Packaging Co. of America stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $244.89, for a total value of $563,247.00. Following the completion of the sale, the senior vice president now directly owns 9,197 shares in the company, valued at $2,252,253.33. This trade represents a 20.01 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Paul T. Stecko sold 10,500 shares of Packaging Co. of America stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $244.91, for a total transaction of $2,571,555.00. Following the completion of the sale, the director now owns 8,881 shares of the company’s stock, valued at $2,175,045.71. This trade represents a 54.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 33,300 shares of company stock valued at $8,064,152. Company insiders own 1.70% of the company’s stock.

Packaging Co. of America Price Performance

Shares of NYSE:PKG opened at $210.63 on Wednesday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.98 and a current ratio of 2.95. The firm has a fifty day moving average price of $232.54 and a 200 day moving average price of $220.87. Packaging Co. of America has a fifty-two week low of $159.57 and a fifty-two week high of $250.82. The firm has a market cap of $18.92 billion, a price-to-earnings ratio of 23.59, a P/E/G ratio of 2.29 and a beta of 0.77.

Packaging Co. of America (NYSE:PKG) last released its quarterly earnings data on Tuesday, January 28th. The industrial products company reported $2.47 EPS for the quarter, missing the consensus estimate of $2.51 by ($0.04). Packaging Co. of America had a net margin of 9.60% and a return on equity of 19.67%. As a group, sell-side analysts expect that Packaging Co. of America will post 11.15 earnings per share for the current fiscal year.

Packaging Co. of America Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Friday, December 20th were paid a $1.25 dividend. This represents a $5.00 annualized dividend and a yield of 2.37%. The ex-dividend date was Friday, December 20th. Packaging Co. of America’s dividend payout ratio is presently 55.99%.

Wall Street Analysts Forecast Growth

PKG has been the topic of a number of analyst reports. Truist Financial restated a “buy” rating and issued a $265.00 price objective (down previously from $282.00) on shares of Packaging Co. of America in a research report on Thursday, January 30th. Jefferies Financial Group upgraded shares of Packaging Co. of America from a “hold” rating to a “buy” rating and boosted their price objective for the company from $215.00 to $280.00 in a research report on Wednesday, December 18th. Wells Fargo & Company cut their target price on shares of Packaging Co. of America from $253.00 to $236.00 and set an “overweight” rating on the stock in a research note on Thursday, January 30th. Citigroup upped their target price on shares of Packaging Co. of America from $232.00 to $235.00 and gave the stock a “neutral” rating in a research note on Monday, January 6th. Finally, StockNews.com cut shares of Packaging Co. of America from a “buy” rating to a “hold” rating in a report on Wednesday, January 29th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $233.00.

Packaging Co. of America 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.