Pictet Asset Management Holding SA Has $107.19 Million Holdings in Packaging Co. of America (NYSE:PKG)

Pictet Asset Management Holding SA increased its stake in shares of Packaging Co. of America (NYSE:PKG - Free Report) by 3.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 476,137 shares of the industrial products company's stock after buying an additional 16,900 shares during the period. Pictet Asset Management Holding SA owned 0.53% of Packaging Co. of America worth $107,193,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in PKG. Larson Financial Group LLC lifted its position in shares of 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 purchasing an additional 115 shares in the last quarter. Fortitude Family Office LLC boosted its position 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 buying an additional 98 shares during the last quarter. Centricity Wealth Management LLC acquired a new stake in shares of Packaging Co. of America in the 4th quarter valued at $44,000. Golden State Wealth Management LLC bought a new stake in shares of Packaging Co. of America during the fourth quarter worth $48,000. Finally, Rialto Wealth Management LLC acquired a new position in shares of Packaging Co. of America during the fourth quarter valued at $63,000. Institutional investors own 89.78% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. 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. Wells Fargo & Company decreased their target price on Packaging Co. of America from $253.00 to $236.00 and set an "overweight" rating for the company in a research note on Thursday, January 30th. StockNews.com raised Packaging Co. of America from a "hold" rating to a "buy" rating in a research report on Saturday. Jefferies Financial Group raised shares of Packaging Co. of America from a "hold" rating to a "buy" rating and boosted their price objective for the company from $215.00 to $280.00 in a research report on Wednesday, December 18th. Finally, Truist Financial reaffirmed a "buy" rating and set a $265.00 price objective (down from $282.00) on shares of Packaging Co. of America in a research report on Thursday, January 30th. Two research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $233.00.

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Packaging Co. of America Stock Up 0.9 %

Shares of NYSE PKG traded up $1.76 during mid-day trading on Wednesday, hitting $201.69. The company had a trading volume of 138,998 shares, compared to its average volume of 930,242. The company has a current ratio of 2.95, a quick ratio of 1.98 and a debt-to-equity ratio of 0.58. The firm has a 50-day simple moving average of $208.82 and a two-hundred day simple moving average of $222.13. The company has a market capitalization of $18.11 billion, a PE ratio of 22.59, a price-to-earnings-growth ratio of 2.41 and a beta of 0.77. Packaging Co. of America has a one year low of $169.00 and a one year high of $250.82.

Packaging Co. of America (NYSE:PKG - Get Free Report) last announced its quarterly earnings data 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%. On average, equities analysts expect that Packaging Co. of America will post 10.44 EPS for the current year.

Packaging Co. of America Announces Dividend

The company also recently disclosed 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. The ex-dividend date of this dividend is Friday, March 14th. This represents a $5.00 annualized dividend and a dividend yield of 2.48%. Packaging Co. of America's dividend payout ratio is presently 55.99%.

Packaging Co. of America 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.