Charles Schwab Investment Management Inc. Has $648.06 Million Position in Packaging Corporation of America (NYSE:PKG)

Key Points

• Charles Schwab Investment Management Inc. increased its stake in Packaging Corporation of America (NYSE:PKG) by 6.6%, now holding approximately 3.64% of the company valued at around $648.1 million.
• The company reported earnings of $2.48 per share for the latest quarter, surpassing analysts' expectations and showing a 4.7% year-over-year revenue increase.
• Analysts have recently adjusted their price targets for Packaging Corporation of America, with estimates ranging from $200.00 to $220.00, while the average consensus price target is $215.40.

Charles Schwab Investment Management Inc. increased its position in Packaging Corporation of America (NYSE:PKG - Free Report) by 6.6% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,272,704 shares of the industrial products company's stock after buying an additional 202,755 shares during the period. Charles Schwab Investment Management Inc. owned 3.64% of Packaging Corporation of America worth $648,061,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Cary Street Partners Financial LLC increased its holdings in Packaging Corporation of America by 0.7% in the first quarter. Cary Street Partners Financial LLC now owns 8,759 shares of the industrial products company's stock worth $1,735,000 after buying an additional 59 shares during the last quarter. Clearstead Trust LLC grew its holdings in Packaging Corporation of America by 118.6% during the first quarter. Clearstead Trust LLC now owns 129 shares of the industrial products company's stock valued at $26,000 after purchasing an additional 70 shares during the last quarter. Raiffeisen Bank International AG grew its holdings in Packaging Corporation of America by 80.6% during the first quarter. Raiffeisen Bank International AG now owns 5,058 shares of the industrial products company's stock valued at $989,000 after purchasing an additional 2,258 shares during the last quarter. Blair William & Co. IL grew its holdings in Packaging Corporation of America by 7.4% during the first quarter. Blair William & Co. IL now owns 2,166 shares of the industrial products company's stock valued at $429,000 after purchasing an additional 149 shares during the last quarter. Finally, Argent Trust Co grew its holdings in Packaging Corporation of America by 3.1% during the first quarter. Argent Trust Co now owns 14,158 shares of the industrial products company's stock valued at $2,804,000 after purchasing an additional 425 shares during the last quarter. Institutional investors and hedge funds own 89.78% of the company's stock.

Packaging Corporation of America Stock Performance

PKG stock traded up $1.59 during midday trading on Friday, hitting $196.45. The stock had a trading volume of 440,660 shares, compared to its average volume of 676,521. The firm has a market capitalization of $17.68 billion, a price-to-earnings ratio of 19.61, a P/E/G ratio of 2.31 and a beta of 0.85. Packaging Corporation of America has a 52 week low of $172.71 and a 52 week high of $250.82. The stock has a 50-day simple moving average of $196.64 and a 200 day simple moving average of $197.74. The company has a current ratio of 3.28, a quick ratio of 2.15 and a debt-to-equity ratio of 0.55.

Packaging Corporation of America (NYSE:PKG - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The industrial products company reported $2.48 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.44 by $0.04. The company had revenue of $2.17 billion during the quarter, compared to analysts' expectations of $2.18 billion. Packaging Corporation of America had a return on equity of 20.36% and a net margin of 10.47%. The business's revenue was up 4.7% on a year-over-year basis. During the same period last year, the business earned $2.20 earnings per share. As a group, equities research analysts anticipate that Packaging Corporation of America will post 10.44 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have commented on PKG shares. Wells Fargo & Company increased their price target on Packaging Corporation of America from $180.00 to $200.00 and gave the company an "equal weight" rating in a report on Thursday, July 10th. Citigroup raised their price objective on shares of Packaging Corporation of America from $197.00 to $214.00 and gave the stock a "neutral" rating in a research note on Friday, July 25th. Truist Financial lowered their price objective on shares of Packaging Corporation of America from $239.00 to $238.00 and set a "buy" rating on the stock in a research note on Friday, July 25th. UBS Group raised their price objective on shares of Packaging Corporation of America from $210.00 to $220.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 29th. Finally, Jefferies Financial Group downgraded shares of Packaging Corporation of America from a "buy" rating to a "hold" rating and lowered their price objective for the stock from $245.00 to $205.00 in a research note on Monday, June 16th. Five equities research analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $215.40.

Packaging Corporation 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.