Swiss National Bank Cuts Holdings in Packaging Co. of America (NYSE:PKG)

Swiss National Bank lowered its stake in shares of Packaging Co. of America (NYSE:PKG) by 4.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 253,800 shares of the industrial products company’s stock after selling 12,700 shares during the period. Swiss National Bank owned 0.28% of Packaging Co. of America worth $57,138,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the stock. Larson Financial Group LLC lifted its stake in shares of 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 worth $35,000 after purchasing an additional 115 shares during the last quarter. Fortitude Family Office LLC lifted its position in shares of Packaging Co. of America by 150.8% during the fourth 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 bought a new stake in shares of Packaging Co. of America in the 4th quarter valued at about $44,000. Golden State Wealth Management LLC bought a new stake in shares of Packaging Co. of America in the 4th quarter valued at about $48,000. Finally, Assetmark Inc. grew its position in shares of Packaging Co. of America by 44.6% in the 3rd quarter. Assetmark Inc. now owns 269 shares of the industrial products company’s stock worth $58,000 after buying an additional 83 shares during the last quarter. Hedge funds and other institutional investors own 89.78% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on PKG. Seaport Res Ptn upgraded shares of Packaging Co. of America from a “hold” rating to a “strong-buy” rating in a research note on Thursday, February 13th. Jefferies Financial Group raised Packaging Co. of America from a “hold” rating to a “buy” rating and raised their price objective for the stock from $215.00 to $280.00 in a research report on Wednesday, December 18th. Wells Fargo & Company reduced their target price 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 reissued a “buy” rating and issued a $265.00 price target (down previously from $282.00) on shares of Packaging Co. of America in a report on Thursday, January 30th. Finally, StockNews.com upgraded shares of Packaging Co. of America from a “hold” rating to a “buy” rating in a report on Wednesday, February 26th. Two analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $233.00.

Packaging Co. of America Stock Up 2.4 %

PKG stock opened at $196.68 on Friday. 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 firm’s fifty day simple moving average is $217.04 and its 200-day simple moving average is $222.71. Packaging Co. of America has a 12 month low of $169.00 and a 12 month high of $250.82. The company has a market capitalization of $17.66 billion, a P/E ratio of 22.02, a price-to-earnings-growth ratio of 2.41 and a beta of 0.77.

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 net margin of 9.60% and a return on equity of 19.67%. As a group, equities research analysts forecast that Packaging Co. of America will post 10.44 earnings per share for the current year.

Packaging Co. of America Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Friday, March 14th will be issued a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a yield of 2.54%. The ex-dividend date of this dividend is Friday, March 14th. Packaging Co. of America’s 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.