Packaging Co. of America (NYSE:PKG) Shares Sold by Swiss National Bank

Swiss National Bank cut its holdings in shares of Packaging Co. of America (NYSE:PKG) by 4.8% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 253,800 shares of the industrial products company’s stock after selling 12,700 shares during the period. Swiss National Bank’s holdings in Packaging Co. of America were worth $57,138,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of PKG. Larson Financial Group LLC boosted its position 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 purchasing an additional 115 shares in the last quarter. Fortitude Family Office LLC lifted its position in shares of Packaging Co. of America by 150.8% during the 4th quarter. Fortitude Family Office LLC now owns 163 shares of the industrial products company’s stock valued at $37,000 after buying an additional 98 shares in the last quarter. Centricity Wealth Management LLC acquired a new stake in Packaging Co. of America in the 4th quarter valued at $44,000. Golden State Wealth Management LLC acquired a new stake in Packaging Co. of America in the 4th quarter valued at $48,000. Finally, Assetmark Inc. raised its position in Packaging Co. of America by 44.6% during the third quarter. Assetmark Inc. now owns 269 shares of the industrial products company’s stock worth $58,000 after acquiring an additional 83 shares during the period. Hedge funds and other institutional investors own 89.78% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently issued reports on PKG shares. Citigroup lifted their target price on shares of Packaging Co. of America from $232.00 to $235.00 and gave the company a “neutral” rating in a research report on Monday, January 6th. Seaport Res Ptn upgraded Packaging Co. of America from a “hold” rating to a “strong-buy” rating in a report on Thursday, February 13th. Jefferies Financial Group upgraded Packaging Co. of America from a “hold” rating to a “buy” rating and raised their target price for the company from $215.00 to $280.00 in a research report on Wednesday, December 18th. Wells Fargo & Company dropped their price target on Packaging Co. of America from $253.00 to $236.00 and set an “overweight” rating for the company in a research report on Thursday, January 30th. Finally, Truist Financial restated a “buy” rating and issued a $265.00 price objective (down previously from $282.00) on shares of Packaging Co. of America in a report on Thursday, January 30th. Two equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $233.00.

Packaging Co. of America Stock Up 2.4 %

PKG stock opened at $196.68 on Friday. Packaging Co. of America has a one year low of $169.00 and a one year high of $250.82. The firm has a market cap of $17.66 billion, a PE ratio of 22.02, a PEG ratio of 2.41 and a beta of 0.77. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.98 and a current ratio of 2.95. The firm’s 50 day moving average price is $217.04 and its 200-day moving average price is $222.71.

Packaging Co. of America (NYSE:PKG) last posted its quarterly earnings results on Tuesday, January 28th. The industrial products company reported $2.47 EPS for the quarter, missing the consensus estimate 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%. On average, equities research analysts anticipate that Packaging Co. of America will post 10.44 EPS for the current year.

Packaging Co. of America Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Friday, March 14th will be issued a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a yield of 2.54%. The ex-dividend date is Friday, March 14th. Packaging Co. of America’s dividend payout ratio (DPR) is 55.99%.

Packaging Co. of America Company Profile

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.