Packaging Co. of America (NYSE:PKG) Position Raised by RW Investment Management LLC

RW Investment Management LLC raised its position in shares of Packaging Co. of America (NYSE:PKG) by 4.4% in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 7,074 shares of the industrial products company’s stock after purchasing an additional 300 shares during the quarter. Packaging Co. of America comprises 0.2% of RW Investment Management LLC’s portfolio, making the stock its 25th largest holding. RW Investment Management LLC’s holdings in Packaging Co. of America were worth $1,291,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of PKG. Register Financial Advisors LLC bought a new position in Packaging Co. of America during the first quarter valued at about $25,000. Asset Dedication LLC lifted its holdings in Packaging Co. of America by 200.0% in the 2nd quarter. Asset Dedication LLC now owns 168 shares of the industrial products company’s stock valued at $31,000 after acquiring an additional 112 shares during the last quarter. Neo Ivy Capital Management bought a new position in shares of Packaging Co. of America during the 4th quarter valued at about $28,000. Tortoise Investment Management LLC acquired a new position in shares of Packaging Co. of America in the 2nd quarter worth approximately $33,000. Finally, Headlands Technologies LLC bought a new stake in shares of Packaging Co. of America in the 1st quarter worth approximately $43,000. 89.78% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. Bank of America lifted their price target on shares of Packaging Co. of America from $197.00 to $200.00 and gave the stock a “buy” rating in a research report on Monday, June 17th. StockNews.com upgraded Packaging Co. of America from a “hold” rating to a “buy” rating in a report on Thursday. Citigroup upped their target price on Packaging Co. of America from $181.00 to $187.00 and gave the company a “neutral” rating in a report on Monday, July 8th. Truist Financial increased their price target on Packaging Co. of America from $215.00 to $219.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. Finally, Wells Fargo & Company boosted their price objective on Packaging Co. of America from $194.00 to $215.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $190.50.

Packaging Co. of America Stock Down 1.3 %

Shares of Packaging Co. of America stock opened at $212.90 on Friday. Packaging Co. of America has a 1 year low of $143.82 and a 1 year high of $217.69. The company has a market cap of $19.12 billion, a P/E ratio of 26.61, a P/E/G ratio of 4.22 and a beta of 0.77. The company has a current ratio of 2.43, a quick ratio of 1.71 and a debt-to-equity ratio of 0.60. The stock has a 50-day moving average price of $200.42 and a 200 day moving average price of $188.73.

Packaging Co. of America (NYSE:PKG) last posted its quarterly earnings results on Tuesday, July 23rd. The industrial products company reported $2.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.14 by $0.06. Packaging Co. of America had a net margin of 9.06% and a return on equity of 18.21%. The business had revenue of $2.08 billion during the quarter, compared to analyst estimates of $2.02 billion. During the same period in the prior year, the firm earned $2.31 earnings per share. The firm’s revenue was up 6.3% compared to the same quarter last year. As a group, analysts expect that Packaging Co. of America will post 8.72 EPS for the current fiscal year.

Packaging Co. of America Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 16th will be issued a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a dividend yield of 2.35%. The ex-dividend date is Monday, September 16th. Packaging Co. of America’s dividend payout ratio is currently 62.50%.

Insider Transactions at Packaging Co. of America

In related news, EVP Charles J. Carter sold 5,389 shares of Packaging Co. of America stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $196.28, for a total transaction of $1,057,752.92. Following the completion of the sale, the executive vice president now owns 25,539 shares of the company’s stock, valued at $5,012,794.92. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, EVP Charles J. Carter sold 5,389 shares of the firm’s stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $196.28, for a total transaction of $1,057,752.92. Following the completion of the sale, the executive vice president now directly owns 25,539 shares of the company’s stock, valued at approximately $5,012,794.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Donald R. Shirley sold 6,000 shares of the business’s stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $196.28, for a total value of $1,177,680.00. Following the completion of the sale, the senior vice president now directly owns 20,772 shares of the company’s stock, valued at approximately $4,077,128.16. The disclosure for this sale can be found here. 1.60% of the stock is currently owned by company insiders.

Packaging Co. of America Profile

Packaging Corporation of America manufactures and sells containerboard and corrugated packaging products in the United States. The company operates through three segments: Packaging, Paper, and Corporate and Other. The Packaging segment offers various containerboard and corrugated packaging products, such as conventional shipping containers used to protect and transport manufactured goods; multi-color boxes and displays that help to merchandise the packaged product in retail locations; and honeycomb protective packaging products, as well as packaging for meat, fresh fruit and vegetables, processed food, beverages, and other industrial and consumer products.