Texas Permanent School Fund Sells 884 Shares of Packaging Corp Of America (NYSE:PKG)

Texas Permanent School Fund lessened its position in Packaging Corp Of America (NYSE:PKG) by 5.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 16,749 shares of the industrial products company’s stock after selling 884 shares during the quarter. Texas Permanent School Fund’s holdings in Packaging Corp Of America were worth $1,876,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the company. Horan Capital Advisors LLC. purchased a new position in Packaging Corp Of America in the 3rd quarter worth about $44,000. Steward Partners Investment Advisory LLC grew its position in shares of Packaging Corp Of America by 94.8% in the 3rd quarter. Steward Partners Investment Advisory LLC now owns 717 shares of the industrial products company’s stock worth $76,000 after buying an additional 349 shares during the last quarter. Whittier Trust Co. grew its position in shares of Packaging Corp Of America by 383.3% in the 4th quarter. Whittier Trust Co. now owns 725 shares of the industrial products company’s stock worth $81,000 after buying an additional 575 shares during the last quarter. Quest Capital Management Inc. ADV purchased a new position in shares of Packaging Corp Of America in the 3rd quarter worth approximately $98,000. Finally, First Allied Advisory Services Inc. purchased a new position in shares of Packaging Corp Of America in the 3rd quarter worth approximately $203,000. Hedge funds and other institutional investors own 93.28% of the company’s stock.

PKG stock traded down $0.76 during midday trading on Friday, hitting $99.22. 5,287 shares of the company’s stock were exchanged, compared to its average volume of 908,260. The stock’s fifty day moving average price is $105.54 and its 200-day moving average price is $106.43. The company has a debt-to-equity ratio of 0.88, a quick ratio of 2.24 and a current ratio of 3.28. The company has a market cap of $9.52 billion, a PE ratio of 13.53, a price-to-earnings-growth ratio of 3.23 and a beta of 1.71. Packaging Corp Of America has a one year low of $87.85 and a one year high of $114.78.

Packaging Corp Of America (NYSE:PKG) last issued its quarterly earnings results on Wednesday, January 29th. The industrial products company reported $1.71 EPS for the quarter, beating analysts’ consensus estimates of $1.70 by $0.01. The company had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.70 billion. Packaging Corp Of America had a return on equity of 24.89% and a net margin of 10.00%. The company’s quarterly revenue was down 1.5% compared to the same quarter last year. During the same period in the previous year, the company posted $2.17 earnings per share. On average, analysts expect that Packaging Corp Of America will post 6.23 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Friday, December 20th were issued a $0.79 dividend. The ex-dividend date of this dividend was Thursday, December 19th. This represents a $3.16 dividend on an annualized basis and a dividend yield of 3.18%. Packaging Corp Of America’s dividend payout ratio (DPR) is 41.31%.

A number of equities analysts have recently issued reports on the stock. Deutsche Bank raised their target price on shares of Packaging Corp Of America from $100.00 to $115.00 and gave the stock a “hold” rating in a research report on Monday, December 9th. Wells Fargo & Co raised their price target on Packaging Corp Of America from $100.00 to $102.00 and gave the stock a “market perform” rating in a research report on Friday, October 25th. Vertical Research lowered Packaging Corp Of America from a “buy” rating to a “hold” rating and set a $117.00 price target on the stock. in a research report on Tuesday, November 26th. Bank of America raised their price target on Packaging Corp Of America from $108.00 to $112.00 and gave the stock a “neutral” rating in a research report on Thursday, October 24th. Finally, Goldman Sachs Group lowered Packaging Corp Of America from a “neutral” rating to a “sell” rating and set a $102.00 price target on the stock. in a research report on Tuesday, December 10th. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating and two have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $106.64.

In other news, SVP Bruce A. Ridley sold 1,900 shares of the business’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $112.92, for a total value of $214,548.00. Following the sale, the senior vice president now directly owns 17,589 shares in the company, valued at $1,986,149.88. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Robert C. Lyons purchased 1,000 shares of the business’s stock in a transaction dated Monday, February 3rd. The stock was purchased at an average price of $96.88 per share, for a total transaction of $96,880.00. Following the completion of the acquisition, the director now owns 9,164 shares of the company’s stock, valued at $887,808.32. The disclosure for this purchase can be found here. Insiders own 1.20% of the company’s stock.

About Packaging Corp Of America

Packaging Corporation of America manufactures and sells containerboard and corrugated packaging products primarily in the United States. The company's Packaging segment offers various corrugated packaging products, such as conventional shipping containers used to protect and transport manufactured goods; multi-color boxes and displays that help to merchandise the packaged product in retail locations; and honeycomb protective packaging products.

Further Reading: Balanced Fund

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Institutional Ownership by Quarter for Packaging Corp Of America (NYSE:PKG)

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