FIL Ltd Has $450.70 Million Stake in Packaging Co. of America (NYSE:PKG)

FIL Ltd lowered its holdings in shares of Packaging Co. of America (NYSE:PKG - Free Report) by 10.9% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,001,934 shares of the industrial products company's stock after selling 245,240 shares during the period. FIL Ltd owned about 2.23% of Packaging Co. of America worth $450,695,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of the business. Vanguard Group Inc. grew its stake in shares of Packaging Co. of America by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 11,423,715 shares of the industrial products company's stock worth $2,571,821,000 after buying an additional 133,575 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Packaging Co. of America by 4.5% during the 4th 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 grew its position in Packaging Co. of America by 1.3% during the 4th quarter. Geode Capital Management LLC now owns 2,366,723 shares of the industrial products company's stock worth $531,540,000 after acquiring an additional 29,427 shares during the last quarter. Invesco Ltd. increased its holdings in Packaging Co. of America by 0.8% in the 4th quarter. Invesco Ltd. now owns 1,853,092 shares of the industrial products company's stock worth $417,187,000 after purchasing an additional 14,775 shares in the last quarter. Finally, Boston Partners raised its position in Packaging Co. of America by 7.0% in 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 last quarter. 89.78% of the stock is currently owned by institutional investors.

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Analyst Ratings Changes

A number of research analysts recently issued reports on PKG shares. Seaport Res Ptn upgraded shares of Packaging Co. of America from a "hold" rating to a "strong-buy" rating in a report on Thursday, February 13th. StockNews.com lowered shares of Packaging Co. of America from a "buy" rating to a "hold" rating in a report on Sunday, April 6th. Citigroup increased their price objective on Packaging Co. of America from $232.00 to $235.00 and gave the company a "neutral" rating in a report on Monday, January 6th. Truist Financial reaffirmed a "buy" rating and set a $265.00 target price (down from $282.00) on shares of Packaging Co. of America in a report on Thursday, January 30th. Finally, Wells Fargo & Company cut their price objective on Packaging Co. of America from $236.00 to $209.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 8th. Two research 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 company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $237.80.

Packaging Co. of America Trading Up 1.9 %

Shares of Packaging Co. of America stock traded up $3.50 on Friday, hitting $188.95. 830,656 shares of the company's stock traded hands, compared to its average volume of 698,863. The company has a fifty day moving average of $200.77 and a two-hundred day moving average of $220.10. Packaging Co. of America has a one year low of $169.00 and a one year high of $250.82. The company has a market capitalization of $16.99 billion, a price-to-earnings ratio of 21.16, a price-to-earnings-growth ratio of 2.41 and a beta of 0.84. 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 (EPS) for the quarter, missing analysts' consensus estimates 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 earnings per share for the current year.

Packaging Co. of America Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Friday, March 14th will be issued a dividend of $1.25 per share. The ex-dividend date is Friday, March 14th. This represents a $5.00 annualized dividend and a dividend yield of 2.65%. Packaging Co. of America's dividend payout ratio 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.