Commonwealth Equity Services LLC Purchases 3,153 Shares of Packaging Co. of America (NYSE:PKG)

Commonwealth Equity Services LLC grew its position in Packaging Co. of America (NYSE:PKGGet Rating) by 9.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 36,403 shares of the industrial products company’s stock after acquiring an additional 3,153 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Packaging Co. of America were worth $5,682,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the company. IRON Financial LLC lifted its position in shares of Packaging Co. of America by 13.6% in the 1st quarter. IRON Financial LLC now owns 4,138 shares of the industrial products company’s stock worth $646,000 after acquiring an additional 496 shares during the period. Banque Pictet & Cie SA lifted its position in shares of Packaging Co. of America by 3.4% during the 1st quarter. Banque Pictet & Cie SA now owns 52,547 shares of the industrial products company’s stock worth $8,203,000 after buying an additional 1,744 shares during the period. Benjamin Edwards Inc. lifted its position in shares of Packaging Co. of America by 1,236.1% during the 1st quarter. Benjamin Edwards Inc. now owns 481 shares of the industrial products company’s stock worth $75,000 after buying an additional 445 shares during the period. Envestnet Asset Management Inc. lifted its position in shares of Packaging Co. of America by 7.3% during the 1st quarter. Envestnet Asset Management Inc. now owns 163,139 shares of the industrial products company’s stock worth $25,468,000 after buying an additional 11,101 shares during the period. Finally, Bank Pictet & Cie Asia Ltd. lifted its position in shares of Packaging Co. of America by 26.7% during the 1st quarter. Bank Pictet & Cie Asia Ltd. now owns 11,564 shares of the industrial products company’s stock worth $1,805,000 after buying an additional 2,436 shares during the period. Institutional investors own 91.01% of the company’s stock.

Packaging Co. of America Stock Up 0.8 %

NYSE PKG opened at $139.15 on Thursday. The stock has a fifty day moving average of $143.99 and a 200-day moving average of $149.34. The stock has a market capitalization of $13.04 billion, a P/E ratio of 12.87, a price-to-earnings-growth ratio of 2.41 and a beta of 0.77. Packaging Co. of America has a 52 week low of $124.78 and a 52 week high of $168.50. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.99 and a current ratio of 2.96.

Packaging Co. of America (NYSE:PKGGet Rating) last released its earnings results on Monday, July 25th. The industrial products company reported $3.23 EPS for the quarter, beating the consensus estimate of $2.85 by $0.38. Packaging Co. of America had a return on equity of 29.35% and a net margin of 12.13%. The company had revenue of $2.24 billion during the quarter, compared to analysts’ expectations of $2.14 billion. During the same period last year, the firm earned $2.17 EPS. The business’s revenue for the quarter was up 19.0% on a year-over-year basis. On average, equities research analysts forecast that Packaging Co. of America will post 11.54 EPS for the current year.

Packaging Co. of America Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, July 15th. Stockholders of record on Wednesday, June 15th were given a $1.25 dividend. This is a positive change from Packaging Co. of America’s previous quarterly dividend of $1.00. This represents a $5.00 annualized dividend and a dividend yield of 3.59%. The ex-dividend date of this dividend was Tuesday, June 14th. Packaging Co. of America’s dividend payout ratio (DPR) is currently 46.25%.

Wall Street Analyst Weigh In

Several research firms recently commented on PKG. Deutsche Bank Aktiengesellschaft cut their target price on Packaging Co. of America from $158.00 to $144.00 in a research report on Tuesday, July 19th. Truist Financial dropped their price target on Packaging Co. of America to $175.00 and set an “outperform” rating for the company in a report on Wednesday, July 27th. Argus raised their price target on Packaging Co. of America from $160.00 to $176.00 in a report on Friday, April 29th. Wells Fargo & Company dropped their price target on Packaging Co. of America from $154.00 to $143.00 and set a “maintains” rating for the company in a report on Wednesday, July 27th. Finally, Citigroup raised their price target on Packaging Co. of America from $144.00 to $147.00 and gave the company a “neutral” rating in a report on Wednesday, July 27th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $156.57.

Insider Transactions at Packaging Co. of America

In other news, CFO Robert P. Mundy sold 13,800 shares of the firm’s stock in a transaction on Monday, June 6th. The stock was sold at an average price of $160.30, for a total value of $2,212,140.00. Following the transaction, the chief financial officer now directly owns 38,799 shares in the company, valued at approximately $6,219,479.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Donna A. Harman purchased 500 shares of Packaging Co. of America stock in a transaction dated Wednesday, May 25th. The shares were acquired at an average cost of $153.21 per share, for a total transaction of $76,605.00. Following the transaction, the director now directly owns 2,725 shares of the company’s stock, valued at $417,497.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Robert P. Mundy sold 13,800 shares of Packaging Co. of America stock in a transaction dated Monday, June 6th. The stock was sold at an average price of $160.30, for a total value of $2,212,140.00. Following the transaction, the chief financial officer now owns 38,799 shares in the company, valued at $6,219,479.70. The disclosure for this sale can be found here. 1.60% of the stock is owned by corporate insiders.

Packaging Co. of America Profile

(Get Rating)

Packaging Corporation of America manufactures and sells containerboard and corrugated packaging products in the United States. The company operates through Packaging and Paper segments. 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.

Further Reading

Institutional Ownership by Quarter for Packaging Co. of America (NYSE:PKG)

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