Korea Investment CORP Purchases 34,784 Shares of Packaging Co. of America (NYSE:PKG)

Korea Investment CORP raised its holdings in shares of Packaging Co. of America (NYSE:PKG - Free Report) by 96.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 71,004 shares of the industrial products company's stock after purchasing an additional 34,784 shares during the quarter. Korea Investment CORP owned approximately 0.08% of Packaging Co. of America worth $15,985,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Larson Financial Group LLC boosted its holdings in Packaging Co. of America by 234.7% in the 3rd quarter. Larson Financial Group LLC now owns 164 shares of the industrial products company's stock worth $35,000 after buying an additional 115 shares during the period. FMR LLC lifted 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 worth $231,846,000 after acquiring an additional 35,827 shares in the last quarter. Townsquare Capital LLC boosted its holdings in shares of Packaging Co. of America by 7.8% in the third quarter. Townsquare Capital LLC now owns 2,791 shares of the industrial products company's stock worth $601,000 after acquiring an additional 201 shares during the period. CreativeOne Wealth LLC grew its position in shares of Packaging Co. of America by 91.1% in the third quarter. CreativeOne Wealth LLC now owns 3,774 shares of the industrial products company's stock valued at $813,000 after purchasing an additional 1,799 shares in the last quarter. Finally, Fiduciary Trust Co raised its stake in shares of Packaging Co. of America by 2.0% during the 3rd quarter. Fiduciary Trust Co now owns 3,367 shares of the industrial products company's stock valued at $725,000 after purchasing an additional 66 shares during the period. Institutional investors own 89.78% of the company's stock.

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Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. Truist Financial reaffirmed a "buy" rating and set a $265.00 target price (down previously from $282.00) on shares of Packaging Co. of America in a report on Thursday, January 30th. StockNews.com raised shares of Packaging Co. of America from a "hold" rating to a "buy" rating in a report on Saturday. Wells Fargo & Company cut their price target on shares of Packaging Co. of America from $253.00 to $236.00 and set an "overweight" rating for the company in a 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 report on Thursday, February 13th. Finally, Jefferies Financial Group upgraded Packaging Co. of America from a "hold" rating to a "buy" rating and boosted their target price for the stock from $215.00 to $280.00 in a research report on Wednesday, December 18th. Two investment analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $233.00.

Packaging Co. of America Price Performance

NYSE PKG traded up $1.53 on Wednesday, reaching $201.46. 680,063 shares of the company's stock traded hands, compared to its average volume of 673,209. The stock has a market cap of $18.09 billion, a PE ratio of 22.56, a P/E/G ratio of 2.41 and a beta of 0.77. Packaging Co. of America has a 12 month low of $169.00 and a 12 month high of $250.82. The stock has a 50-day simple moving average of $208.82 and a 200 day simple moving average of $222.13. 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 posted 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%. As a group, research analysts predict that Packaging Co. of America will post 10.44 earnings per share for the current year.

Packaging Co. of America Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Friday, March 14th will be paid a $1.25 dividend. The ex-dividend date is Friday, March 14th. This represents a $5.00 dividend on an annualized basis and a yield of 2.48%. Packaging Co. of America's dividend payout ratio (DPR) is currently 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.