Asset Dedication LLC Acquires 112 Shares of Packaging Co. of America (NYSE:PKG)

Asset Dedication LLC lifted its holdings in Packaging Co. of America (NYSE:PKG) by 200.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 168 shares of the industrial products company’s stock after buying an additional 112 shares during the quarter. Asset Dedication LLC’s holdings in Packaging Co. of America were worth $31,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of PKG. CANADA LIFE ASSURANCE Co grew its holdings in Packaging Co. of America by 4.6% in the first quarter. CANADA LIFE ASSURANCE Co now owns 70,689 shares of the industrial products company’s stock worth $13,419,000 after purchasing an additional 3,078 shares during the period. Mitsubishi UFJ Trust & Banking Corp grew its stake in shares of Packaging Co. of America by 30.4% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 90,686 shares of the industrial products company’s stock worth $17,168,000 after buying an additional 21,143 shares during the last quarter. Cim LLC bought a new position in Packaging Co. of America during the 4th quarter valued at approximately $2,003,000. Summit Financial Strategies Inc. raised its stake in Packaging Co. of America by 5.5% during the second quarter. Summit Financial Strategies Inc. now owns 234,495 shares of the industrial products company’s stock valued at $42,809,000 after buying an additional 12,129 shares during the last quarter. Finally, AXS Investments LLC bought a new stake in Packaging Co. of America in the fourth quarter worth $766,000. 89.78% of the stock is currently owned by institutional investors.

Packaging Co. of America Price Performance

PKG opened at $204.53 on Tuesday. The company’s 50-day simple moving average is $194.84 and its two-hundred day simple moving average is $186.79. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.71 and a current ratio of 2.43. The stock has a market capitalization of $18.37 billion, a P/E ratio of 25.57, a P/E/G ratio of 5.21 and a beta of 0.77. Packaging Co. of America has a 52-week low of $143.82 and a 52-week high of $210.11.

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

Packaging Co. of America Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Tuesday, October 15th will be issued a $1.25 dividend. This represents a $5.00 annualized dividend and a dividend yield of 2.44%. The ex-dividend date of this dividend is Monday, September 16th. Packaging Co. of America’s payout ratio is currently 62.50%.

Insider Activity at Packaging Co. of America

In other Packaging Co. of America news, SVP Donald R. Shirley sold 6,000 shares of the firm’s 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 transaction, the senior vice president now directly owns 20,772 shares of the company’s stock, valued at $4,077,128.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Packaging Co. of America news, SVP Donald R. Shirley sold 6,000 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 transaction of $1,177,680.00. Following the completion of the sale, the senior vice president now directly owns 20,772 shares of the company’s stock, valued at $4,077,128.16. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Charles J. Carter sold 5,389 shares of Packaging Co. of America stock in a transaction on 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 transaction, the executive vice president now 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 company insiders.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on PKG shares. Citigroup raised their price target on Packaging Co. of America from $181.00 to $187.00 and gave the company a “neutral” rating in a report on Monday, July 8th. Bank of America raised their price objective on shares of Packaging Co. of America from $197.00 to $200.00 and gave the company a “buy” rating in a research note on Monday, June 17th. StockNews.com cut shares of Packaging Co. of America from a “buy” rating to a “hold” rating in a report on Wednesday, August 28th. Truist Financial increased their price target on shares of Packaging Co. of America from $215.00 to $219.00 and gave the company a “buy” rating in a report on Thursday, July 25th. Finally, Wells Fargo & Company boosted their price objective on shares of Packaging Co. of America from $194.00 to $215.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, Packaging Co. of America presently has a consensus rating of “Hold” and an average price target 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.