Packaging Co. of America (NYSE:PKG) Shares Purchased by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank raised its position in Packaging Co. of America (NYSE:PKG) by 42.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 25,338 shares of the industrial products company’s stock after buying an additional 7,588 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Packaging Co. of America were worth $5,704,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. State Street Corp lifted its position in shares of Packaging Co. of America by 3.2% in the third quarter. State Street Corp now owns 3,948,546 shares of the industrial products company’s stock valued at $855,212,000 after acquiring an additional 123,050 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Packaging Co. of America by 4.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,069,949 shares of the industrial products company’s stock valued at $691,138,000 after purchasing an additional 132,836 shares in the last quarter. Geode Capital Management LLC boosted its stake in Packaging Co. of America by 0.6% during 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 purchasing an additional 12,936 shares during the last quarter. FMR LLC grew its holdings in shares of Packaging Co. of America by 3.4% during the third quarter. FMR LLC now owns 1,076,350 shares of the industrial products company’s stock worth $231,846,000 after buying an additional 35,827 shares in the last quarter. Finally, Stifel Financial Corp raised its position in shares of Packaging Co. of America by 1,462.2% in the third quarter. Stifel Financial Corp now owns 573,073 shares of the industrial products company’s stock valued at $123,440,000 after buying an additional 536,389 shares during the last quarter. 89.78% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in 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. StockNews.com upgraded Packaging Co. of America from a “hold” rating to a “buy” rating in a report on Wednesday, February 26th. Wells Fargo & Company dropped their price target on Packaging Co. of America from $253.00 to $236.00 and set an “overweight” rating for the company in a research report on Thursday, January 30th. Jefferies Financial Group upgraded Packaging Co. of America from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $215.00 to $280.00 in a research report on Wednesday, December 18th. Finally, Truist Financial restated a “buy” rating and issued a $265.00 target price (down from $282.00) on shares of Packaging Co. of America in a report on Thursday, January 30th. Two investment 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 company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $233.00.

Packaging Co. of America Stock Up 2.4 %

PKG stock opened at $196.68 on Friday. Packaging Co. of America has a one year low of $169.00 and a one year high of $250.82. The firm has a market cap of $17.66 billion, a PE ratio of 22.02, a PEG ratio of 2.41 and a beta of 0.77. The firm’s 50 day moving average price is $217.04 and its 200-day moving average price is $222.58. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.98 and a current ratio of 2.95.

Packaging Co. of America (NYSE:PKG) last posted its 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%. On average, equities research analysts anticipate that Packaging Co. of America will post 10.44 EPS for the current year.

Packaging Co. of America Announces Dividend

The business also recently announced 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 yield of 2.54%. The ex-dividend date is Friday, March 14th. Packaging Co. of America’s dividend payout ratio (DPR) is presently 55.99%.

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.