Zurcher Kantonalbank Zurich Cantonalbank Buys 7,588 Shares of Packaging Co. of America (NYSE:PKG)

Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Packaging Co. of America (NYSE:PKG - Free Report) by 42.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 25,338 shares of the industrial products company's stock after buying an additional 7,588 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank's holdings in Packaging Co. of America were worth $5,704,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. Fortitude Family Office LLC boosted its holdings in Packaging Co. of America by 150.8% in the 4th quarter. Fortitude Family Office LLC now owns 163 shares of the industrial products company's stock valued at $37,000 after purchasing an additional 98 shares during the period. Larson Financial Group LLC grew 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 buying an additional 115 shares in the last quarter. Centricity Wealth Management LLC bought a new position in Packaging Co. of America in the 4th quarter worth about $44,000. Golden State Wealth Management LLC purchased a new stake in shares of Packaging Co. of America in the 4th quarter valued at about $48,000. Finally, Assetmark Inc. grew its holdings in shares of 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 in the last quarter. Hedge funds and other institutional investors own 89.78% of the company's stock.

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Analysts Set New Price Targets

PKG has been the subject of several research analyst reports. Seaport Res Ptn upgraded 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 lifted their price objective for the stock from $215.00 to $280.00 in a report on Wednesday, December 18th. Citigroup upped their target price 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. StockNews.com upgraded Packaging Co. of America from a "hold" rating to a "buy" rating in a research report on Wednesday, February 26th. Finally, Truist Financial reiterated a "buy" rating and issued a $265.00 price objective (down from $282.00) on shares of Packaging Co. of America in a report on Thursday, January 30th. 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 stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $233.00.

Packaging Co. of America Trading Down 0.6 %

NYSE PKG traded down $1.15 during trading on Tuesday, hitting $197.37. 563,312 shares of the company's stock traded hands, compared to its average volume of 613,799. The firm has a market cap of $17.72 billion, a P/E ratio of 22.10, a PEG ratio of 2.41 and a beta of 0.77. The stock has a fifty day moving average of $216.47 and a two-hundred day moving average of $222.77. 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 has a 12-month low of $169.00 and a 12-month high of $250.82.

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 return on equity of 19.67% and a net margin of 9.60%. As a group, sell-side analysts expect that Packaging Co. of America will post 10.44 EPS for the current year.

Packaging Co. of America Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Friday, March 14th will be issued a dividend of $1.25 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $5.00 dividend on an annualized basis and a yield of 2.53%. Packaging Co. of America's dividend payout ratio is presently 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.