Packaging Co. of America (NYSE:PKG) Shares Purchased by Geode Capital Management LLC

Geode Capital Management LLC boosted its stake in Packaging Co. of America (NYSE:PKG - Free Report) by 1.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,366,723 shares of the industrial products company's stock after purchasing an additional 29,427 shares during the period. Geode Capital Management LLC owned approximately 2.64% of Packaging Co. of America worth $531,540,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its stake in shares of Packaging Co. of America by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 11,423,715 shares of the industrial products company's stock valued at $2,571,821,000 after buying an additional 133,575 shares in the last quarter. State Street Corp boosted its holdings in Packaging Co. of America by 3.2% in the 3rd quarter. State Street Corp now owns 3,948,546 shares of the industrial products company's stock worth $855,212,000 after acquiring an additional 123,050 shares during the period. Charles Schwab Investment Management Inc. grew its position in Packaging Co. of America by 4.5% in 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. Boston Partners raised its stake in shares of Packaging Co. of America by 7.0% during the fourth quarter. Boston Partners now owns 1,565,351 shares of the industrial products company's stock valued at $352,305,000 after purchasing an additional 101,755 shares during the period. Finally, Norges Bank purchased a new stake in shares of Packaging Co. of America during the fourth quarter valued at approximately $258,928,000. 89.78% of the stock is owned by hedge funds and other institutional investors.

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Packaging Co. of America Stock Up 7.7 %

Packaging Co. of America stock traded up $13.51 during midday trading on Wednesday, hitting $189.48. The stock had a trading volume of 1,300,955 shares, compared to its average volume of 693,879. The business has a fifty day moving average price of $201.72 and a 200 day moving average price of $220.45. Packaging Co. of America has a 12 month low of $169.00 and a 12 month high of $250.82. The stock has a market cap of $17.04 billion, a P/E ratio of 21.22, a P/E/G ratio of 2.41 and a beta of 0.84. 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 (NYSE:PKG - Get Free Report) last issued its earnings results on Tuesday, January 28th. The industrial products company reported $2.47 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%. Research analysts predict that Packaging Co. of America will post 10.44 EPS for the current year.

Packaging Co. of America Announces Dividend

The business also recently announced 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 2.64%. Packaging Co. of America's payout ratio is currently 55.99%.

Analysts Set New Price Targets

A number of research firms recently weighed in on PKG. 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 report on Wednesday, December 18th. Truist Financial restated a "buy" rating and set a $265.00 target price (down from $282.00) on shares of Packaging Co. of America in a research note on Thursday, January 30th. Citigroup boosted their price target on Packaging Co. of America from $232.00 to $235.00 and gave the stock a "neutral" rating in a research note on Monday, January 6th. StockNews.com lowered Packaging Co. of America from a "buy" rating to a "hold" rating in a research note on Sunday. Finally, Seaport Res Ptn raised Packaging Co. of America from a "hold" rating to a "strong-buy" rating in a research report on Thursday, February 13th. Three analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $228.50.

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.