Teacher Retirement System of Texas Has $30.88 Million Position in Packaging Co. of America (NYSE:PKG)

Teacher Retirement System of Texas boosted its holdings in shares of Packaging Co. of America (NYSE:PKG) by 61.0% during the fourth quarter, Holdings Channel reports. The institutional investor owned 137,148 shares of the industrial products company’s stock after acquiring an additional 51,962 shares during the quarter. Teacher Retirement System of Texas’ holdings in Packaging Co. of America were worth $30,876,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently bought and sold shares of the company. Fortitude Family Office LLC boosted its stake in Packaging Co. of America by 150.8% during the fourth quarter. Fortitude Family Office LLC now owns 163 shares of the industrial products company’s stock worth $37,000 after buying an additional 98 shares in the last quarter. Larson Financial Group LLC boosted its stake in Packaging Co. of America by 234.7% during the third quarter. Larson Financial Group LLC now owns 164 shares of the industrial products company’s stock worth $35,000 after buying an additional 115 shares in the last quarter. Centricity Wealth Management LLC acquired a new stake in Packaging Co. of America during the fourth quarter worth $44,000. Golden State Wealth Management LLC acquired a new stake in Packaging Co. of America during the fourth quarter worth $48,000. Finally, Rialto Wealth Management LLC acquired a new stake in Packaging Co. of America during the fourth quarter worth $63,000. Institutional investors and hedge funds own 89.78% of the company’s stock.

Packaging Co. of America Stock Performance

Packaging Co. of America stock opened at $197.30 on Friday. The stock has a 50-day simple moving average of $214.69 and a 200 day simple moving average of $222.34. The company has a quick ratio of 1.98, a current ratio of 2.95 and a debt-to-equity ratio of 0.58. Packaging Co. of America has a 12-month low of $169.00 and a 12-month high of $250.82. The stock has a market capitalization of $17.72 billion, a price-to-earnings ratio of 22.09, a P/E/G ratio of 2.41 and a beta of 0.77.

Packaging Co. of America (NYSE:PKG) last released its quarterly earnings results 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 net margin of 9.60% and a return on equity of 19.67%. On average, research analysts anticipate that Packaging Co. of America will post 10.44 earnings per share for the current fiscal year.

Packaging Co. of America Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Friday, March 14th will be issued a $1.25 dividend. The ex-dividend date is Friday, March 14th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.53%. Packaging Co. of America’s dividend payout ratio is 55.99%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on PKG. StockNews.com upgraded shares of Packaging Co. of America from a “hold” rating to a “buy” rating in a research note on Wednesday, February 26th. Jefferies Financial Group raised Packaging Co. of America from a “hold” rating to a “buy” rating and lifted their price objective for the company from $215.00 to $280.00 in a report on Wednesday, December 18th. Wells Fargo & Company cut their price objective on Packaging Co. of America from $253.00 to $236.00 and set an “overweight” rating for the company in a report on Thursday, January 30th. Seaport Res Ptn raised Packaging Co. of America from a “hold” rating to a “strong-buy” rating in a report on Thursday, February 13th. Finally, Truist Financial reissued a “buy” rating and set a $265.00 price objective (down from $282.00) on shares of Packaging Co. of America in a report on Thursday, January 30th. Two research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $233.00.

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.