Summit Global Investments Acquires Shares of 12,059 Packaging Co. of America (NYSE:PKG)

Summit Global Investments bought a new stake in Packaging Co. of America (NYSE:PKG - Free Report) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 12,059 shares of the industrial products company's stock, valued at approximately $2,715,000.

Several other institutional investors have also modified their holdings of the company. State Street Corp boosted its stake in Packaging Co. of America by 3.2% during the 3rd quarter. State Street Corp now owns 3,948,546 shares of the industrial products company's stock valued at $855,212,000 after purchasing an additional 123,050 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of Packaging Co. of America by 4.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,069,949 shares of the industrial products company's stock worth $691,138,000 after buying an additional 132,836 shares during the period. Geode Capital Management LLC grew its holdings in Packaging Co. of America by 0.6% in the 3rd quarter. Geode Capital Management LLC now owns 2,337,296 shares of the industrial products company's stock worth $501,896,000 after buying an additional 12,936 shares in the last quarter. Boston Partners increased its position in Packaging Co. of America by 7.0% in the 4th quarter. Boston Partners now owns 1,565,351 shares of the industrial products company's stock valued at $352,305,000 after acquiring an additional 101,755 shares during the period. Finally, FMR LLC raised its stake in Packaging Co. of America by 3.4% during the 3rd quarter. FMR LLC now owns 1,076,350 shares of the industrial products company's stock valued at $231,846,000 after acquiring an additional 35,827 shares in the last quarter. Institutional investors own 89.78% of the company's stock.

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Packaging Co. of America Trading Down 1.1 %

PKG stock traded down $2.19 during mid-day trading on Tuesday, reaching $198.62. 999,426 shares of the stock traded hands, compared to its average volume of 622,802. Packaging Co. of America has a 52-week low of $169.00 and a 52-week high of $250.82. The stock's fifty day moving average is $212.76 and its 200-day moving average is $222.43. The company has a market cap of $17.84 billion, a P/E ratio of 22.24, a P/E/G ratio of 2.41 and a beta of 0.77. 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 quarterly 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 net margin of 9.60% and a return on equity of 19.67%. 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 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 given a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a yield of 2.52%. The ex-dividend date is Friday, March 14th. Packaging Co. of America's payout ratio is 55.99%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on PKG shares. Citigroup raised their price target 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. StockNews.com downgraded shares of Packaging Co. of America from a "buy" rating to a "hold" rating in a research report on Friday. Wells Fargo & Company reduced 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 research note on Thursday, January 30th. Truist Financial restated a "buy" rating and issued a $265.00 price objective (down previously from $282.00) on shares of Packaging Co. of America in a report on Thursday, January 30th. Finally, Jefferies Financial Group raised shares of Packaging Co. of America from a "hold" rating to a "buy" rating and increased their target price for the company from $215.00 to $280.00 in a research note on Wednesday, December 18th. Three equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $233.00.

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.