Beverly Hills Private Wealth LLC Has $2.79 Million Stock Position in Packaging Co. of America (NYSE:PKG)

Beverly Hills Private Wealth LLC raised its position in Packaging Co. of America (NYSE:PKG) by 20.0% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 15,278 shares of the industrial products company’s stock after acquiring an additional 2,544 shares during the period. Beverly Hills Private Wealth LLC’s holdings in Packaging Co. of America were worth $2,789,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Register Financial Advisors LLC acquired a new stake in Packaging Co. of America in the first quarter valued at approximately $25,000. Asset Dedication LLC grew its stake in Packaging Co. of America by 200.0% in the second 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 period. Neo Ivy Capital Management acquired a new stake in Packaging Co. of America in the fourth quarter valued at approximately $28,000. Tortoise Investment Management LLC acquired a new stake in Packaging Co. of America in the second quarter valued at approximately $33,000. Finally, Headlands Technologies LLC acquired a new stake in Packaging Co. of America in the first quarter valued at approximately $43,000. Institutional investors and hedge funds own 89.78% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on PKG. Citigroup raised their price objective on Packaging Co. of America from $181.00 to $187.00 and gave the company a “neutral” rating in a research note on Monday, July 8th. Wells Fargo & Company raised 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. StockNews.com lowered Packaging Co. of America from a “buy” rating to a “hold” rating in a report on Wednesday. Bank of America raised their target price on Packaging Co. of America from $197.00 to $200.00 and gave the company a “buy” rating in a report on Monday, June 17th. Finally, Truist Financial raised 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. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, Packaging Co. of America presently has a consensus rating of “Hold” and an average target price of $190.50.

Insider Buying and Selling at Packaging Co. of America

In other Packaging Co. of America news, SVP Donald R. Shirley sold 6,000 shares of the business’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 $1,177,680.00. Following the sale, the senior vice president now directly owns 20,772 shares in the company, valued at $4,077,128.16. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other Packaging Co. of America news, SVP Donald R. Shirley sold 6,000 shares of the business’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 $1,177,680.00. Following the sale, the senior vice president now directly owns 20,772 shares in the company, valued at $4,077,128.16. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Charles J. Carter sold 5,389 shares of the business’s stock in a transaction 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 owns 25,539 shares in the company, valued at $5,012,794.92. The disclosure for this sale can be found here. Corporate insiders own 1.60% of the company’s stock.

Packaging Co. of America Stock Performance

Shares of Packaging Co. of America stock opened at $204.60 on Thursday. The business’s fifty day simple moving average is $195.89 and its 200 day simple moving average is $187.12. The firm has a market capitalization of $18.37 billion, a P/E ratio of 25.58, a price-to-earnings-growth ratio of 5.21 and a beta of 0.77. Packaging Co. of America has a 12 month low of $143.82 and a 12 month high of $210.11. The company has a current ratio of 2.43, a quick ratio of 1.71 and a debt-to-equity ratio of 0.60.

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

Packaging Co. of America Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Tuesday, October 15th will be issued a dividend of $1.25 per share. The ex-dividend date is Monday, September 16th. This represents a $5.00 dividend on an annualized basis and a yield of 2.44%. Packaging Co. of America’s dividend payout ratio (DPR) is currently 62.50%.

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.