Swiss National Bank Sells 12,700 Shares of Packaging Co. of America (NYSE:PKG)

Swiss National Bank lessened its holdings in shares of Packaging Co. of America (NYSE:PKG - Free Report) by 4.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 253,800 shares of the industrial products company's stock after selling 12,700 shares during the quarter. Swiss National Bank owned 0.28% of Packaging Co. of America worth $57,138,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of PKG. Larson Financial Group LLC increased its stake in Packaging Co. of America by 234.7% during the 3rd quarter. Larson Financial Group LLC now owns 164 shares of the industrial products company's stock valued at $35,000 after purchasing an additional 115 shares in the last quarter. Fortitude Family Office LLC boosted its holdings in shares of 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 worth $37,000 after buying an additional 98 shares during the last quarter. Centricity Wealth Management LLC bought a new stake in Packaging Co. of America in the 4th quarter valued at about $44,000. Golden State Wealth Management LLC bought a new stake in Packaging Co. of America in the 4th quarter valued at about $48,000. Finally, Assetmark Inc. increased its position 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 valued at $58,000 after buying an additional 83 shares during the period. Institutional investors own 89.78% of the company's stock.

Packaging Co. of America Price Performance

NYSE PKG traded up $0.73 on Wednesday, reaching $198.34. 811,275 shares of the company's stock traded hands, compared to its average volume of 938,634. Packaging Co. of America has a 12 month low of $169.00 and a 12 month high of $250.82. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.95 and a quick ratio of 1.98. The stock has a 50-day simple moving average of $215.91 and a 200 day simple moving average of $222.69. The stock has a market cap of $17.81 billion, a PE ratio of 22.21, a P/E/G ratio of 2.41 and a beta of 0.77.

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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 analysts' consensus estimates 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, research analysts predict that Packaging Co. of America will post 10.44 earnings per share for the current year.

Packaging Co. of America Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Friday, March 14th will be given a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a yield of 2.52%. The ex-dividend date is Friday, March 14th. Packaging Co. of America's payout ratio is currently 55.99%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on PKG. Citigroup upped their price target on Packaging Co. of America from $232.00 to $235.00 and gave the company a "neutral" rating in a research report on Monday, January 6th. Wells Fargo & Company decreased their price target on Packaging Co. of America from $253.00 to $236.00 and set an "overweight" rating on the stock in a research report on Thursday, January 30th. Truist Financial restated a "buy" rating and issued a $265.00 price objective (down from $282.00) on shares of Packaging Co. of America in a research report on Thursday, January 30th. Jefferies Financial Group upgraded shares of Packaging Co. of America from a "hold" rating to a "buy" rating and upped their price objective for the stock from $215.00 to $280.00 in a research report on Wednesday, December 18th. Finally, StockNews.com upgraded shares of Packaging Co. of America from a "hold" rating to a "buy" rating in a research report on Wednesday, February 26th. Two investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price 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.