Summit Global Investments Makes New Investment in Packaging Co. of America (NYSE:PKG)

Summit Global Investments purchased a new stake in Packaging Co. of America (NYSE:PKG) in the 4th quarter, according to its most recent disclosure with the SEC. The fund purchased 12,059 shares of the industrial products company’s stock, valued at approximately $2,715,000.

A number of other institutional investors have also modified their holdings of the business. State Street Corp boosted its stake in 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 during the period. Charles Schwab Investment Management Inc. boosted its position in Packaging Co. of America by 4.5% during 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 during the period. Geode Capital Management LLC grew 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 buying an additional 12,936 shares during the last quarter. Boston Partners increased its position in Packaging Co. of America by 7.0% in the fourth quarter. Boston Partners now owns 1,565,351 shares of the industrial products company’s stock worth $352,305,000 after buying an additional 101,755 shares during the period. Finally, FMR LLC lifted its stake in Packaging Co. of America by 3.4% in the third quarter. FMR LLC now owns 1,076,350 shares of the industrial products company’s stock valued at $231,846,000 after buying an additional 35,827 shares during the last quarter. Institutional investors own 89.78% of the company’s stock.

Analysts Set New Price Targets

PKG has been the topic of a number of analyst reports. Jefferies Financial Group raised shares of Packaging Co. of America from a “hold” rating to a “buy” rating and increased their price objective for the stock from $215.00 to $280.00 in a report on Wednesday, December 18th. Truist Financial reaffirmed a “buy” rating and set a $265.00 price target (down previously from $282.00) on shares of Packaging Co. of America in a report on Thursday, January 30th. StockNews.com downgraded Packaging Co. of America from a “buy” rating to a “hold” rating in a research report on Friday. Wells Fargo & Company lowered 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. Finally, Seaport Res Ptn upgraded Packaging Co. of America from a “hold” rating to a “strong-buy” rating in a research report on Thursday, February 13th. Three equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $233.00.

Packaging Co. of America Stock Performance

Shares of NYSE PKG opened at $194.30 on Friday. 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 $17.45 billion, a P/E ratio of 21.76, a PEG ratio of 2.41 and a beta of 0.77. The stock has a fifty day moving average price of $214.03 and a two-hundred day moving average price of $222.24. 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 announced its earnings results on Tuesday, January 28th. The industrial products company reported $2.47 earnings per share 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%. Research analysts forecast that Packaging Co. of America will post 10.44 EPS for the current fiscal year.

Packaging Co. of America Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Friday, March 14th will be paid a $1.25 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $5.00 annualized dividend and a dividend yield of 2.57%. Packaging Co. of America’s dividend payout ratio is currently 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.