Benjamin F. Edwards & Company Inc. Purchases 3,552 Shares of Packaging Co. of America (NYSE:PKG)

Benjamin F. Edwards & Company Inc. lifted its holdings in Packaging Co. of America (NYSE:PKG) by 15.9% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 25,905 shares of the industrial products company’s stock after acquiring an additional 3,552 shares during the period. Benjamin F. Edwards & Company Inc.’s holdings in Packaging Co. of America were worth $4,730,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Intech Investment Management LLC lifted its stake in Packaging Co. of America by 430.8% in the second quarter. Intech Investment Management LLC now owns 12,814 shares of the industrial products company’s stock valued at $2,339,000 after buying an additional 10,400 shares during the period. XTX Topco Ltd bought a new stake in shares of Packaging Co. of America in the 2nd quarter valued at $1,529,000. Hsbc Holdings PLC lifted its position in shares of Packaging Co. of America by 2.6% during the 2nd quarter. Hsbc Holdings PLC now owns 224,066 shares of the industrial products company’s stock valued at $41,012,000 after acquiring an additional 5,585 shares during the period. Zega Financial LLC boosted its stake in Packaging Co. of America by 6.7% during the second quarter. Zega Financial LLC now owns 1,600 shares of the industrial products company’s stock worth $292,000 after acquiring an additional 100 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC grew its holdings in Packaging Co. of America by 14.9% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 6,379 shares of the industrial products company’s stock worth $1,161,000 after purchasing an additional 828 shares during the period. 89.78% of the stock is owned by institutional investors and hedge funds.

Packaging Co. of America Stock Down 1.3 %

Shares of NYSE:PKG opened at $212.90 on Friday. The business’s 50 day moving average is $200.42 and its 200 day moving average is $188.73. Packaging Co. of America has a 12-month low of $143.82 and a 12-month high of $217.69. The stock has a market cap of $19.12 billion, a price-to-earnings ratio of 26.61, a PEG ratio of 4.22 and a beta of 0.77. The company has a quick ratio of 1.71, a current ratio of 2.43 and a debt-to-equity ratio of 0.60.

Packaging Co. of America (NYSE:PKG) last posted its quarterly earnings data 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. The firm had revenue of $2.08 billion for the quarter, compared to the consensus estimate of $2.02 billion. Packaging Co. of America had a net margin of 9.06% and a return on equity of 18.21%. The business’s revenue for the quarter was up 6.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.31 EPS. On average, sell-side analysts forecast that Packaging Co. of America will post 8.72 earnings per share for the current fiscal year.

Packaging Co. of America Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 16th will be paid a $1.25 dividend. The ex-dividend date of this dividend is Monday, September 16th. This represents a $5.00 annualized dividend and a yield of 2.35%. Packaging Co. of America’s dividend payout ratio (DPR) is 62.50%.

Insiders Place Their Bets

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

Analyst Upgrades and Downgrades

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

About Packaging Co. of America

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.