Packaging Co. of America (NYSE:PKG) Stock Position Increased by EverSource Wealth Advisors LLC

EverSource Wealth Advisors LLC grew its position in Packaging Co. of America (NYSE:PKG) by 1.7% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 3,550 shares of the industrial products company’s stock after purchasing an additional 59 shares during the period. EverSource Wealth Advisors LLC’s holdings in Packaging Co. of America were worth $709,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Franklin Resources Inc. increased its position in Packaging Co. of America by 8.2% in the 4th quarter. Franklin Resources Inc. now owns 157,739 shares of the industrial products company’s stock valued at $25,697,000 after acquiring an additional 11,932 shares during the period. Nomura Asset Management Co. Ltd. lifted its position in Packaging Co. of America by 6.5% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 42,341 shares of the industrial products company’s stock worth $6,898,000 after purchasing an additional 2,589 shares during the period. Intech Investment Management LLC boosted its stake in Packaging Co. of America by 205.7% during the 4th quarter. Intech Investment Management LLC now owns 9,595 shares of the industrial products company’s stock valued at $1,563,000 after purchasing an additional 6,456 shares in the last quarter. Hsbc Holdings PLC raised its stake in shares of Packaging Co. of America by 19.7% in the 4th quarter. Hsbc Holdings PLC now owns 144,375 shares of the industrial products company’s stock worth $23,518,000 after buying an additional 23,789 shares in the last quarter. Finally, TD Asset Management Inc raised its stake in shares of Packaging Co. of America by 5.9% in the 4th quarter. TD Asset Management Inc now owns 50,095 shares of the industrial products company’s stock worth $8,161,000 after buying an additional 2,779 shares in the last quarter. Institutional investors and hedge funds own 89.78% of the company’s stock.

Packaging Co. of America Stock Up 0.8 %

PKG stock opened at $214.50 on Tuesday. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.43 and a quick ratio of 1.71. The firm has a market capitalization of $19.26 billion, a P/E ratio of 26.81, a P/E/G ratio of 4.22 and a beta of 0.77. Packaging Co. of America has a 52-week low of $143.82 and a 52-week high of $217.69. The company’s 50 day simple moving average is $201.00 and its 200-day simple moving average is $188.98.

Packaging Co. of America (NYSE:PKG) last announced its earnings results on Tuesday, July 23rd. The industrial products company reported $2.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.14 by $0.06. The company 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 company’s revenue was up 6.3% on a year-over-year basis. During the same period in the previous year, the business earned $2.31 EPS. As a group, equities research analysts anticipate that Packaging Co. of America will post 8.72 EPS for the current year.

Packaging Co. of America Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 16th will be given a dividend of $1.25 per share. The ex-dividend date of this dividend is Monday, September 16th. This represents a $5.00 dividend on an annualized basis and a yield of 2.33%. Packaging Co. of America’s payout ratio is presently 62.50%.

Insider Buying and Selling at Packaging Co. of America

In other news, EVP Charles J. Carter sold 5,389 shares of the 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 $1,057,752.92. Following the completion of the sale, the executive vice president now directly owns 25,539 shares of the company’s stock, valued at $5,012,794.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Packaging Co. of America news, EVP Charles J. Carter sold 5,389 shares of the company’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 $1,057,752.92. Following the transaction, the executive vice president now owns 25,539 shares in the company, valued at approximately $5,012,794.92. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Donald R. Shirley sold 6,000 shares of the 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 $1,177,680.00. Following the completion of the sale, the senior vice president now 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. Company insiders own 1.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on PKG. Bank of America lifted their target price on Packaging Co. of America from $197.00 to $200.00 and gave the stock a “buy” rating in a report on Monday, June 17th. Citigroup boosted their target price on shares of Packaging Co. of America from $181.00 to $187.00 and gave the stock a “neutral” rating in a report on Monday, July 8th. Truist Financial raised their target price on shares of Packaging Co. of America from $215.00 to $219.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. Wells Fargo & Company upped their price target 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. Finally, StockNews.com raised Packaging Co. of America from a “hold” rating to a “buy” rating in a research note on Thursday, September 19th. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, Packaging Co. of America has an average rating of “Moderate Buy” and an average target price of $190.50.

Packaging Co. of America Company 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.