Benjamin Edwards Inc. Cuts Stake in Packaging Co. of America (NYSE:PKG)

Benjamin Edwards Inc. reduced its stake in Packaging Co. of America (NYSE:PKG) by 10.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,976 shares of the industrial products company’s stock after selling 229 shares during the period. Benjamin Edwards Inc.’s holdings in Packaging Co. of America were worth $361,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of PKG. Register Financial Advisors LLC purchased a new stake in shares of Packaging Co. of America in the first quarter worth $25,000. Neo Ivy Capital Management purchased a new stake in shares of Packaging Co. of America during the fourth quarter valued at $28,000. Asset Dedication LLC boosted its position in shares of Packaging Co. of America by 200.0% during the second quarter. Asset Dedication LLC now owns 168 shares of the industrial products company’s stock valued at $31,000 after buying an additional 112 shares during the last quarter. Tortoise Investment Management LLC purchased a new stake in shares of Packaging Co. of America during the second quarter valued at $33,000. Finally, Headlands Technologies LLC purchased a new stake in shares of Packaging Co. of America during the first quarter valued at $43,000. 89.78% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

PKG has been the topic of several recent analyst reports. Citigroup increased their price objective on Packaging Co. of America from $181.00 to $187.00 and gave the company a “neutral” rating in a research report on Monday, July 8th. Bank of America increased their price objective on Packaging Co. of America from $197.00 to $200.00 and gave the company a “buy” rating in a research report on Monday, June 17th. StockNews.com raised Packaging Co. of America from a “hold” rating to a “buy” rating in a report on Thursday. Truist Financial increased their target price on Packaging Co. of America from $215.00 to $219.00 and gave the company a “buy” rating in a report on Thursday, July 25th. Finally, Wells Fargo & Company increased their target price on Packaging Co. of America from $194.00 to $215.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, Packaging Co. of America has a consensus rating of “Moderate Buy” and an average target price of $190.50.

Insider Transactions at Packaging Co. of America

In other news, SVP Donald R. Shirley sold 6,000 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 value of $1,177,680.00. Following the transaction, the senior vice president now owns 20,772 shares of the company’s stock, valued at $4,077,128.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, EVP Charles J. Carter sold 5,389 shares of Packaging Co. of America stock in a transaction that occurred 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 sale, the executive vice president now owns 25,539 shares of the company’s stock, 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 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 sale, the senior vice president now directly owns 20,772 shares in the company, valued at approximately $4,077,128.16. The disclosure for this sale can be found here. Corporate insiders own 1.60% of the company’s stock.

Packaging Co. of America Stock Down 1.3 %

PKG stock opened at $212.90 on Friday. The business’s 50-day moving average is $200.42 and its two-hundred day moving average is $188.73. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.71 and a current ratio of 2.43. Packaging Co. of America has a fifty-two week low of $143.82 and a fifty-two week high of $217.69. The company has a market cap of $19.12 billion, a price-to-earnings ratio of 26.61, a P/E/G ratio of 4.22 and a beta of 0.77.

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

Packaging Co. of America Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 16th will be paid a $1.25 dividend. 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 (DPR) is currently 62.50%.

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.