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

Charles Schwab Investment Management Inc. boosted its holdings in shares of Packaging Co. of America (NYSE:PKG - Free Report) by 3.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,937,113 shares of the industrial products company's stock after buying an additional 98,223 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 3.27% of Packaging Co. of America worth $632,654,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Asset Dedication LLC grew its position in shares of Packaging Co. of America by 200.0% during the 2nd quarter. Asset Dedication LLC now owns 168 shares of the industrial products company's stock valued at $31,000 after acquiring an additional 112 shares during the period. Central Pacific Bank Trust Division purchased a new stake in Packaging Co. of America in the third quarter worth about $32,000. Tortoise Investment Management LLC purchased a new stake in Packaging Co. of America in the second quarter worth about $33,000. Strategic Financial Concepts LLC bought a new position in shares of Packaging Co. of America in the second quarter worth about $50,000. Finally, Assetmark Inc. lifted its position in shares of Packaging Co. of America by 44.6% during the 3rd quarter. Assetmark Inc. now owns 269 shares of the industrial products company's stock valued at $58,000 after buying an additional 83 shares in the last quarter. 89.78% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Packaging Co. of America

In other news, SVP Donald R. Shirley sold 8,000 shares of the company's stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $240.20, for a total transaction of $1,921,600.00. Following the sale, the senior vice president now directly owns 15,725 shares in the company, valued at approximately $3,777,145. This represents a 33.72 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Paul T. Stecko sold 10,500 shares of the stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $244.91, for a total transaction of $2,571,555.00. Following the completion of the transaction, the director now directly owns 8,881 shares of the company's stock, valued at approximately $2,175,045.71. The trade was a 54.18 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 31,000 shares of company stock valued at $7,500,905 in the last ninety days. Corporate insiders own 1.60% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on PKG shares. Truist Financial reissued a "buy" rating and issued a $252.00 target price (up from $242.00) on shares of Packaging Co. of America in a report on Thursday, October 24th. Citigroup increased their price objective on shares of Packaging Co. of America from $199.00 to $221.00 and gave the stock a "neutral" rating in a research note on Wednesday, October 2nd. StockNews.com cut shares of Packaging Co. of America from a "buy" rating to a "hold" rating in a research note on Wednesday. Finally, Wells Fargo & Company increased their price target on Packaging Co. of America from $235.00 to $253.00 and gave the stock an "overweight" rating in a research note on Thursday, October 24th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $221.60.

Packaging Co. of America Price Performance

Shares of PKG stock traded up $0.46 during mid-day trading on Friday, hitting $245.76. The company had a trading volume of 173,342 shares, compared to its average volume of 600,383. The company has a market capitalization of $22.07 billion, a P/E ratio of 28.59, a P/E/G ratio of 3.35 and a beta of 0.76. The stock's 50 day moving average price is $224.10 and its 200-day moving average price is $201.79. Packaging Co. of America has a 52-week low of $153.58 and a 52-week high of $248.62. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.95 and a quick ratio of 1.98.

Packaging Co. of America (NYSE:PKG - Get Free Report) last released its quarterly earnings data on Tuesday, October 22nd. The industrial products company reported $2.65 EPS for the quarter, beating the consensus estimate of $2.50 by $0.15. Packaging Co. of America had a net margin of 9.46% and a return on equity of 19.10%. The business had revenue of $2.18 billion during the quarter, compared to the consensus estimate of $2.09 billion. During the same quarter in the prior year, the firm earned $2.05 EPS. The business's revenue was up 14.9% on a year-over-year basis. Equities research analysts forecast that Packaging Co. of America will post 9.07 earnings per share for the current year.

Packaging Co. of America Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Tuesday, October 15th were paid a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a yield of 2.03%. The ex-dividend date of this dividend was Monday, September 16th. Packaging Co. of America's payout ratio is 58.28%.

About Packaging Co. of America

Packaging Corporation of America manufactures and sells containerboard and corrugated packaging products in the United States. The company operates through three segments: Packaging, Paper, and Corporate and Other. The Packaging segment offers various containerboard and 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, as well as packaging for meat, fresh fruit and vegetables, processed food, beverages, and other industrial and consumer products.