Envestnet Portfolio Solutions Inc. Grows Stock Holdings in Packaging Co. of America (NYSE:PKG)

Envestnet Portfolio Solutions Inc. raised its holdings in shares of Packaging Co. of America (NYSE:PKG - Free Report) by 56.1% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 12,269 shares of the industrial products company's stock after purchasing an additional 4,409 shares during the period. Envestnet Portfolio Solutions Inc.'s holdings in Packaging Co. of America were worth $2,762,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in PKG. State Street Corp increased its position in shares of Packaging Co. of America by 3.2% during the third quarter. State Street Corp now owns 3,948,546 shares of the industrial products company's stock valued at $855,212,000 after acquiring an additional 123,050 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Packaging Co. of America by 4.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,069,949 shares of the industrial products company's stock valued at $691,138,000 after acquiring an additional 132,836 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Packaging Co. of America by 0.6% during the third quarter. Geode Capital Management LLC now owns 2,337,296 shares of the industrial products company's stock valued at $501,896,000 after acquiring an additional 12,936 shares in the last quarter. FMR LLC increased its position in shares of Packaging Co. of America by 3.4% during the third quarter. FMR LLC now owns 1,076,350 shares of the industrial products company's stock valued at $231,846,000 after acquiring an additional 35,827 shares in the last quarter. Finally, Stifel Financial Corp increased its position in shares of Packaging Co. of America by 1,462.2% during the third quarter. Stifel Financial Corp now owns 573,073 shares of the industrial products company's stock valued at $123,440,000 after acquiring an additional 536,389 shares in the last quarter. Institutional investors own 89.78% of the company's stock.

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Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Citigroup raised their price target 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. Truist Financial reissued a "buy" rating and set a $265.00 price target (down previously from $282.00) on shares of Packaging Co. of America in a research report on Thursday, January 30th. 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. Jefferies Financial Group raised shares of Packaging Co. of America from a "hold" rating to a "buy" rating and raised their price target for the company from $215.00 to $280.00 in a research report on Wednesday, December 18th. Finally, StockNews.com downgraded shares of Packaging Co. of America from a "buy" rating to a "hold" rating in a research report on Friday. Three analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $233.00.

Packaging Co. of America Stock Performance

NYSE:PKG traded down $2.88 during trading hours on Friday, reaching $194.30. The company had a trading volume of 2,534,955 shares, compared to its average volume of 619,445. The company has a current ratio of 2.95, a quick ratio of 1.98 and a debt-to-equity ratio of 0.58. Packaging Co. of America has a 52 week low of $169.00 and a 52 week high of $250.82. The firm has a market cap of $17.45 billion, a price-to-earnings ratio of 21.76, a PEG ratio of 2.41 and a beta of 0.77. The firm's 50 day moving average price is $214.03 and its 200-day moving average price is $222.35.

Packaging Co. of America (NYSE:PKG - Get Free Report) last issued its quarterly earnings results on Tuesday, January 28th. The industrial products company reported $2.47 earnings per share 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, analysts forecast 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. Stockholders of record on Friday, March 14th will be paid a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a dividend yield of 2.57%. The ex-dividend date is Friday, March 14th. Packaging Co. of America's dividend payout ratio is presently 55.99%.

About Packaging Co. of America

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.