Front Row Advisors LLC Has $3.11 Million Position in Packaging Co. of America (NYSE:PKG)

Front Row Advisors LLC lifted its holdings in Packaging Co. of America (NYSE:PKG) by 0.9% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 16,930 shares of the industrial products company’s stock after purchasing an additional 145 shares during the quarter. Packaging Co. of America comprises 1.1% of Front Row Advisors LLC’s holdings, making the stock its 21st biggest position. Front Row Advisors LLC’s holdings in Packaging Co. of America were worth $3,112,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of PKG. Register Financial Advisors LLC bought a new stake in Packaging Co. of America in the 1st quarter valued at approximately $25,000. Neo Ivy Capital Management bought a new stake in shares of Packaging Co. of America in the fourth quarter worth $28,000. Asset Dedication LLC grew its holdings in shares of 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 valued at $31,000 after acquiring an additional 112 shares in the last quarter. Tortoise Investment Management LLC bought a new stake in Packaging Co. of America during the second quarter worth about $33,000. Finally, Headlands Technologies LLC bought a new position in Packaging Co. of America in the first quarter valued at approximately $43,000. 89.78% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Bank of America boosted their target price on shares of Packaging Co. of America from $197.00 to $200.00 and gave the stock a “buy” rating in a report 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 Saturday. Citigroup lifted their price target on Packaging Co. of America from $181.00 to $187.00 and gave the stock a “neutral” rating in a report on Monday, July 8th. Truist Financial upped their price objective on Packaging Co. of America from $215.00 to $219.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Finally, Wells Fargo & Company raised their price objective on Packaging Co. of America from $194.00 to $215.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, Packaging Co. of America has an average rating of “Hold” and an average target price of $190.50.

Insider Buying and Selling

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

Packaging Co. of America Trading Up 0.4 %

NYSE:PKG opened at $215.70 on Friday. Packaging Co. of America has a 52 week low of $143.82 and a 52 week high of $217.69. 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 firm’s fifty day moving average is $202.87 and its 200-day moving average is $189.75. The firm has a market cap of $19.37 billion, a P/E ratio of 26.96, a P/E/G ratio of 4.23 and a beta of 0.77.

Packaging Co. of America (NYSE:PKG) last issued its earnings results on Tuesday, July 23rd. The industrial products company reported $2.20 earnings per share for the quarter, topping analysts’ consensus estimates of $2.14 by $0.06. The business had revenue of $2.08 billion during 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%. The firm’s revenue for the quarter was up 6.3% on a year-over-year basis. During the same period in the previous year, the company posted $2.31 earnings per share. Equities analysts expect that Packaging Co. of America will post 8.72 earnings per share for the current 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 given a dividend of $1.25 per share. 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 payout ratio is 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.