Maryland State Retirement & Pension System Sells 157 Shares of Packaging Co. of America (NYSE:PKG)

Maryland State Retirement & Pension System trimmed its stake in shares of Packaging Co. of America (NYSE:PKG) by 3.1% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 4,907 shares of the industrial products company’s stock after selling 157 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Packaging Co. of America were worth $1,105,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PKG. Larson Financial Group LLC raised its stake in shares of Packaging Co. of America by 234.7% during the 3rd quarter. Larson Financial Group LLC now owns 164 shares of the industrial products company’s stock valued at $35,000 after purchasing an additional 115 shares during the period. Fortitude Family Office LLC increased its stake in Packaging Co. of America by 150.8% in the 4th quarter. Fortitude Family Office LLC now owns 163 shares of the industrial products company’s stock worth $37,000 after acquiring an additional 98 shares during the last quarter. Centricity Wealth Management LLC bought a new position in Packaging Co. of America in the 4th quarter worth about $44,000. Golden State Wealth Management LLC bought a new position in Packaging Co. of America in the 4th quarter worth about $48,000. Finally, Rialto Wealth Management LLC bought a new position in Packaging Co. of America in the 4th quarter worth about $63,000. 89.78% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on PKG shares. Jefferies Financial Group upgraded Packaging Co. of America from a “hold” rating to a “buy” rating and upped their target price for the stock from $215.00 to $280.00 in a research note on Wednesday, December 18th. Wells Fargo & Company decreased their target price on 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. Truist Financial restated a “buy” rating and issued a $265.00 target price (down from $282.00) on shares of Packaging Co. of America in a research note on Thursday, January 30th. Seaport Res Ptn upgraded Packaging Co. of America from a “hold” rating to a “strong-buy” rating in a research note on Thursday, February 13th. Finally, StockNews.com lowered Packaging Co. of America from a “buy” rating to a “hold” rating in a research note on Friday. Three analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $233.00.

Packaging Co. of America Price Performance

PKG opened at $194.30 on Friday. The stock has a 50-day moving average price of $214.03 and a 200-day moving average price of $222.35. Packaging Co. of America has a 12-month low of $169.00 and a 12-month high of $250.82. The company has a current ratio of 2.95, a quick ratio of 1.98 and a debt-to-equity ratio of 0.58. The stock has a market capitalization of $17.45 billion, a P/E ratio of 21.76, a PEG ratio of 2.41 and a beta of 0.77.

Packaging Co. of America (NYSE:PKG) last posted its quarterly earnings data on Tuesday, January 28th. The industrial products company reported $2.47 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.51 by ($0.04). Packaging Co. of America had a return on equity of 19.67% and a net margin of 9.60%. Equities analysts predict that Packaging Co. of America will post 10.44 earnings per share for the current fiscal year.

Packaging Co. of America Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Friday, March 14th will be issued a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a yield of 2.57%. The ex-dividend date is Friday, March 14th. Packaging Co. of America’s dividend payout ratio is presently 55.99%.

About Packaging Co. of America

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.