Abich Financial Wealth Management LLC Has $105,000 Stake in Packaging Co. of America (NYSE:PKG)

Abich Financial Wealth Management LLC grew its holdings in Packaging Co. of America (NYSE:PKG) by 14,275.0% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 575 shares of the industrial products company’s stock after purchasing an additional 571 shares during the quarter. Abich Financial Wealth Management LLC’s holdings in Packaging Co. of America were worth $105,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Coldstream Capital Management Inc. grew its holdings in Packaging Co. of America by 1.4% in the 2nd quarter. Coldstream Capital Management Inc. now owns 3,859 shares of the industrial products company’s stock valued at $704,000 after buying an additional 54 shares during the last quarter. Daiwa Securities Group Inc. increased its position in Packaging Co. of America by 0.6% during the second quarter. Daiwa Securities Group Inc. now owns 9,713 shares of the industrial products company’s stock worth $1,773,000 after acquiring an additional 56 shares during the period. Moors & Cabot Inc. increased its position in Packaging Co. of America by 2.1% during the second quarter. Moors & Cabot Inc. now owns 2,689 shares of the industrial products company’s stock worth $491,000 after acquiring an additional 56 shares during the period. Evergreen Capital Management LLC raised its stake in Packaging Co. of America by 2.4% during the 2nd quarter. Evergreen Capital Management LLC now owns 2,461 shares of the industrial products company’s stock valued at $452,000 after purchasing an additional 57 shares during the last quarter. Finally, Tokio Marine Asset Management Co. Ltd. boosted its holdings in Packaging Co. of America by 2.8% in the 1st quarter. Tokio Marine Asset Management Co. Ltd. now owns 2,160 shares of the industrial products company’s stock valued at $410,000 after purchasing an additional 59 shares during the period. 89.78% of the stock is currently owned by institutional investors.

Packaging Co. of America Price Performance

Packaging Co. of America stock opened at $215.12 on Wednesday. The business has a 50 day simple moving average of $201.48 and a 200 day simple moving average of $189.18. Packaging Co. of America has a one year low of $143.82 and a one year high of $217.69. The company has a market capitalization of $19.32 billion, a PE ratio of 26.89, a price-to-earnings-growth ratio of 4.22 and a beta of 0.77. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.43 and a quick ratio of 1.71.

Packaging Co. of America (NYSE:PKG) last issued its earnings results 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 net margin of 9.06% and a return on equity of 18.21%. The firm’s revenue for the quarter was up 6.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.31 EPS. On average, sell-side analysts forecast that Packaging Co. of America will post 8.72 EPS for the current fiscal year.

Packaging Co. of America Dividend Announcement

The company also recently announced 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 dividend on an annualized basis and a dividend yield of 2.32%. The ex-dividend date is Monday, September 16th. Packaging Co. of America’s dividend payout ratio (DPR) is currently 62.50%.

Insider Buying and Selling

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 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 legal filing with the SEC, which is available through the SEC website. In related news, SVP Donald R. Shirley sold 6,000 shares of Packaging Co. of America 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 completion of the transaction, the senior vice president now directly owns 20,772 shares of the company’s stock, valued at $4,077,128.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Charles J. Carter sold 5,389 shares of the stock in a transaction dated 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 directly owns 25,539 shares in the company, valued at approximately $5,012,794.92. The disclosure for this sale can be found here. 1.60% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

PKG has been the topic of several research reports. Truist Financial boosted their price objective 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. StockNews.com upgraded Packaging Co. of America from a “hold” rating to a “buy” rating in a research report on Thursday, September 19th. Bank of America lifted their price objective 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 upped their target price 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. Finally, Wells Fargo & Company lifted their price target on shares of 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. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $190.50.

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.