Charles Schwab Investment Management Inc. Raises Stock Position in Packaging Co. of America (NYSE:PKG)

Charles Schwab Investment Management Inc. grew its holdings in shares of Packaging Co. of America (NYSE:PKG - Free Report) by 4.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,069,949 shares of the industrial products company's stock after buying an additional 132,836 shares during the quarter. Charles Schwab Investment Management Inc. owned 3.42% of Packaging Co. of America worth $691,138,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Larson Financial Group LLC boosted its holdings 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 during the last quarter. Fortitude Family Office LLC boosted its holdings 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 purchasing an additional 98 shares during the last quarter. Centricity Wealth Management LLC purchased a new position in Packaging Co. of America during the fourth quarter worth about $44,000. Golden State Wealth Management LLC purchased a new position in Packaging Co. of America during the fourth quarter worth about $48,000. Finally, Assetmark Inc. boosted its holdings 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 purchasing an additional 83 shares during the last quarter. 89.78% of the stock is currently owned by institutional investors and hedge funds.

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Analyst Ratings Changes

Several analysts have commented on PKG shares. StockNews.com raised shares of Packaging Co. of America from a "hold" rating to a "buy" rating in a research report on Wednesday, February 26th. Jefferies Financial Group raised shares of Packaging Co. of America from a "hold" rating to a "buy" rating and lifted their price objective for the stock from $215.00 to $280.00 in a research report on Wednesday, December 18th. Citigroup lifted their price objective on shares of Packaging Co. of America from $232.00 to $235.00 and gave the stock a "neutral" rating in a research report on Monday, January 6th. Truist Financial reaffirmed a "buy" rating and issued a $265.00 price objective (down previously from $282.00) on shares of Packaging Co. of America in a research report on Thursday, January 30th. Finally, Seaport Res Ptn raised shares of Packaging Co. of America from a "hold" rating to a "strong-buy" rating in a research report on Thursday, February 13th. Two investment 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.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $233.00.

Packaging Co. of America Stock Performance

Shares of NYSE PKG traded up $3.02 during midday trading on Friday, hitting $206.82. The company's stock had a trading volume of 805,510 shares, compared to its average volume of 922,289. The stock has a fifty day moving average price of $220.32 and a 200 day moving average price of $222.69. Packaging Co. of America has a one year low of $169.00 and a one year high of $250.82. The company has a current ratio of 2.95, a quick ratio of 1.98 and a debt-to-equity ratio of 0.58. The firm has a market capitalization of $18.57 billion, a price-to-earnings ratio of 23.16, a P/E/G ratio of 2.41 and a beta of 0.77.

Packaging Co. of America (NYSE:PKG - Get Free Report) last posted its quarterly earnings results on Tuesday, January 28th. The industrial products company reported $2.47 earnings per share (EPS) for the quarter, missing the consensus estimate 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 forecast that Packaging Co. of America will post 10.44 EPS for the current fiscal year.

Packaging Co. of America Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Friday, March 14th will be paid a dividend of $1.25 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $5.00 annualized dividend and a yield of 2.42%. Packaging Co. of America's dividend payout ratio is currently 55.99%.

Packaging Co. of America 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.