Benjamin Edwards Inc. Sells 229 Shares of Packaging Co. of America (NYSE:PKG)

Benjamin Edwards Inc. lessened its position in shares of Packaging Co. of America (NYSE:PKG) by 10.4% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,976 shares of the industrial products company’s stock after selling 229 shares during the quarter. 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 large investors have also added to or reduced their stakes in PKG. Register Financial Advisors LLC bought a new stake in Packaging Co. of America in the 1st quarter worth approximately $25,000. Neo Ivy Capital Management bought a new stake in Packaging Co. of America in the 4th quarter worth approximately $28,000. Asset Dedication LLC increased its stake in Packaging Co. of America by 200.0% in the 2nd quarter. Asset Dedication LLC now owns 168 shares of the industrial products company’s stock worth $31,000 after acquiring an additional 112 shares during the last quarter. Tortoise Investment Management LLC bought a new stake in Packaging Co. of America in the 2nd quarter worth approximately $33,000. Finally, Headlands Technologies LLC bought a new stake in Packaging Co. of America in the 1st quarter worth approximately $43,000. Institutional investors own 89.78% of the company’s stock.

Insider Buying and Selling at Packaging Co. of America

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 sale, the executive vice president now directly owns 25,539 shares in the company, valued at approximately $5,012,794.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 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 sale, the executive vice president now directly owns 25,539 shares in the company, valued at approximately $5,012,794.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Donald R. Shirley sold 6,000 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 $1,177,680.00. Following the completion of the sale, the senior vice president now owns 20,772 shares of the company’s stock, valued at $4,077,128.16. The disclosure for this sale can be found here. 1.60% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research firms have issued reports on PKG. Wells Fargo & Company lifted their price objective on Packaging Co. of America from $194.00 to $215.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. Citigroup boosted their target price 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. Truist Financial boosted their target price on Packaging Co. of America from $215.00 to $219.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. StockNews.com raised Packaging Co. of America from a “hold” rating to a “buy” rating in a research report on Thursday. Finally, Bank of America boosted their target price 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. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $190.50.

Packaging Co. of America Stock Performance

Shares of Packaging Co. of America stock opened at $212.90 on Friday. The stock’s fifty day moving average is $200.42 and its two-hundred day moving average is $188.73. The company has a market capitalization of $19.12 billion, a PE ratio of 26.61, a price-to-earnings-growth 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 has a 52 week low of $143.82 and a 52 week high of $217.69.

Packaging Co. of America (NYSE:PKG) last announced its quarterly earnings data on Tuesday, July 23rd. The industrial products company reported $2.20 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 return on equity of 18.21% and a net margin of 9.06%. Packaging Co. of America’s quarterly revenue was up 6.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.31 EPS. As a group, analysts expect that Packaging Co. of America will post 8.72 earnings per share 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 $1.25 dividend. This represents a $5.00 annualized dividend and a yield of 2.35%. The ex-dividend date of this dividend is Monday, September 16th. Packaging Co. of America’s dividend payout ratio (DPR) is presently 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.