Teacher Retirement System of Texas Cuts Stock Holdings in Packaging Corporation of America $PKG

Teacher Retirement System of Texas reduced its position in Packaging Corporation of America (NYSE:PKG) by 50.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 52,150 shares of the industrial products company’s stock after selling 53,636 shares during the period. Teacher Retirement System of Texas’ holdings in Packaging Corporation of America were worth $11,365,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PKG. Stiles Financial Services Inc raised its position in shares of Packaging Corporation of America by 1.9% in the third quarter. Stiles Financial Services Inc now owns 5,897 shares of the industrial products company’s stock worth $1,285,000 after acquiring an additional 108 shares during the period. Avidian Wealth Enterprises LLC increased its stake in shares of Packaging Corporation of America by 8.1% in the 3rd quarter. Avidian Wealth Enterprises LLC now owns 1,515 shares of the industrial products company’s stock valued at $330,000 after purchasing an additional 114 shares in the last quarter. Rakuten Investment Management Inc. acquired a new position in Packaging Corporation of America in the 3rd quarter worth about $1,361,000. Chicago Partners Investment Group LLC boosted its position in Packaging Corporation of America by 15.2% during the third quarter. Chicago Partners Investment Group LLC now owns 2,193 shares of the industrial products company’s stock worth $452,000 after purchasing an additional 289 shares in the last quarter. Finally, Sage Mountain Advisors LLC acquired a new stake in Packaging Corporation of America in the third quarter valued at approximately $234,000. Institutional investors and hedge funds own 89.78% of the company’s stock.

Packaging Corporation of America Price Performance

Packaging Corporation of America stock opened at $225.50 on Monday. The company has a fifty day simple moving average of $206.77 and a 200-day simple moving average of $206.43. The firm has a market capitalization of $20.29 billion, a price-to-earnings ratio of 22.80, a PEG ratio of 1.69 and a beta of 0.88. The company has a quick ratio of 2.00, a current ratio of 3.16 and a debt-to-equity ratio of 0.84. Packaging Corporation of America has a 52-week low of $172.71 and a 52-week high of $241.96.

Packaging Corporation of America Announces Dividend

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

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. Zacks Research raised Packaging Corporation of America from a “strong sell” rating to a “hold” rating in a research note on Tuesday, January 6th. Wells Fargo & Company upgraded shares of Packaging Corporation of America from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $222.00 to $233.00 in a research report on Tuesday, January 6th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Packaging Corporation of America in a report on Monday, December 29th. Wall Street Zen raised shares of Packaging Corporation of America from a “sell” rating to a “hold” rating in a research note on Saturday, January 3rd. Finally, Truist Financial raised their price target on shares of Packaging Corporation of America from $263.00 to $273.00 and gave the company a “buy” rating in a research note on Tuesday, January 6th. Four research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average 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.