Packaging Corporation of America $PKG Shares Sold by Strs Ohio

Strs Ohio lowered its holdings in Packaging Corporation of America (NYSE:PKG) by 9.0% in the third quarter, Holdings Channel.com reports. The fund owned 46,112 shares of the industrial products company’s stock after selling 4,566 shares during the quarter. Strs Ohio’s holdings in Packaging Corporation of America were worth $10,049,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. increased its holdings in shares of Packaging Corporation of America by 1.6% in the 2nd quarter. Vanguard Group Inc. now owns 11,204,307 shares of the industrial products company’s stock valued at $2,111,452,000 after purchasing an additional 176,811 shares in the last quarter. State Street Corp grew its position in Packaging Corporation of America by 1.1% during the second quarter. State Street Corp now owns 4,097,253 shares of the industrial products company’s stock worth $777,037,000 after buying an additional 43,141 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in Packaging Corporation of America by 2.4% in the second quarter. Charles Schwab Investment Management Inc. now owns 3,351,323 shares of the industrial products company’s stock valued at $631,557,000 after buying an additional 78,619 shares in the last quarter. American Century Companies Inc. lifted its position in shares of Packaging Corporation of America by 70.6% during the 2nd quarter. American Century Companies Inc. now owns 1,860,113 shares of the industrial products company’s stock valued at $350,539,000 after acquiring an additional 769,806 shares during the period. Finally, Bank of America Corp DE boosted its stake in shares of Packaging Corporation of America by 6.6% during the 2nd quarter. Bank of America Corp DE now owns 1,449,494 shares of the industrial products company’s stock worth $273,157,000 after acquiring an additional 89,739 shares in the last quarter. 89.78% of the stock is currently owned by hedge funds and other institutional investors.

Packaging Corporation of America Stock Performance

NYSE PKG opened at $225.50 on Monday. 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 fifty-two week low of $172.71 and a fifty-two week high of $241.96. The business has a fifty day moving average of $206.77 and a 200-day moving average of $206.43. The stock has a market cap of $20.29 billion, a price-to-earnings ratio of 22.80, a price-to-earnings-growth ratio of 1.69 and a beta of 0.88.

Packaging Corporation of America Dividend Announcement

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

Analyst Ratings Changes

Several equities analysts recently weighed in on PKG shares. Zacks Research raised Packaging Corporation of America from a “strong sell” rating to a “hold” rating in a research note on Tuesday, January 6th. JPMorgan Chase & Co. upped their target price on Packaging Corporation of America from $238.00 to $245.00 and gave the company an “overweight” rating in a report on Friday, December 5th. Citigroup cut their price target on Packaging Corporation of America from $229.00 to $226.00 and set a “neutral” rating for the company in a research note on Tuesday, January 6th. UBS Group boosted their price objective on shares of Packaging Corporation of America from $230.00 to $235.00 and gave the stock a “neutral” rating in a research report on Monday, January 12th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Packaging Corporation of America in a research note on Monday, December 29th. Four equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, Packaging Corporation of America has a consensus 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.