Charles Schwab Investment Management Inc. Acquires 132,836 Shares of Packaging Co. of America (NYSE:PKG)

Charles Schwab Investment Management Inc. grew its holdings in shares of Packaging Co. of America (NYSE:PKG) by 4.5% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,069,949 shares of the industrial products company’s stock after purchasing an additional 132,836 shares during the quarter. Charles Schwab Investment Management Inc. owned about 3.42% of Packaging Co. of America worth $691,138,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in PKG. Sanctuary Advisors LLC boosted its position in shares of Packaging Co. of America by 17.0% in the third quarter. Sanctuary Advisors LLC now owns 20,270 shares of the industrial products company’s stock valued at $4,366,000 after acquiring an additional 2,946 shares during the period. Strategic Financial Concepts LLC bought a new position in shares of Packaging Co. of America in the fourth quarter valued at approximately $6,966,000. GAMMA Investing LLC boosted its position in shares of Packaging Co. of America by 24.2% in the fourth quarter. GAMMA Investing LLC now owns 2,431 shares of the industrial products company’s stock valued at $547,000 after acquiring an additional 473 shares during the period. Principal Financial Group Inc. boosted its position in shares of Packaging Co. of America by 8.4% in the third quarter. Principal Financial Group Inc. now owns 460,518 shares of the industrial products company’s stock valued at $99,194,000 after acquiring an additional 35,614 shares during the period. Finally, QRG Capital Management Inc. boosted its position in shares of Packaging Co. of America by 16.0% in the fourth quarter. QRG Capital Management Inc. now owns 89,380 shares of the industrial products company’s stock valued at $20,122,000 after acquiring an additional 12,305 shares during the period. Institutional investors own 89.78% of the company’s stock.

Analyst Ratings Changes

PKG has been the subject of a number of analyst reports. 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. Citigroup raised their price objective on shares of 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. 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. 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. Finally, Jefferies Financial Group upgraded shares of Packaging Co. of America from a “hold” rating to a “buy” rating and lifted their target price for the company from $215.00 to $280.00 in a research report on Wednesday, December 18th. Two research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $233.00.

Packaging Co. of America Trading Down 3.5 %

Shares of Packaging Co. of America stock opened at $202.18 on Wednesday. Packaging Co. of America has a 1 year low of $169.00 and a 1 year high of $250.82. The firm has a market cap of $18.16 billion, a PE ratio of 22.64, a PEG ratio of 2.41 and a beta of 0.77. 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 company has a 50 day simple moving average of $221.30 and a two-hundred day simple moving average of $222.94.

Packaging Co. of America (NYSE:PKG) last posted 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 return on equity of 19.67% and a net margin of 9.60%. Analysts expect that Packaging Co. of America will post 10.44 earnings per share for the current fiscal year.

Packaging Co. of America Announces Dividend

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 paid a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a dividend yield of 2.47%. The ex-dividend date of this dividend is Friday, March 14th. Packaging Co. of America’s dividend payout ratio (DPR) is presently 55.99%.

Packaging Co. of America Company 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.