Benchmark Financial Wealth Advisors LLC Acquires 119 Shares of Packaging Co. of America (NYSE:PKG)

Benchmark Financial Wealth Advisors LLC grew its holdings in shares of Packaging Co. of America (NYSE:PKG) by 5.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,159 shares of the industrial products company’s stock after acquiring an additional 119 shares during the quarter. Benchmark Financial Wealth Advisors LLC’s holdings in Packaging Co. of America were worth $486,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. State Street Corp boosted its holdings in Packaging Co. of America by 3.2% in the third quarter. State Street Corp now owns 3,948,546 shares of the industrial products company’s stock valued at $855,212,000 after acquiring an additional 123,050 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Packaging Co. of America by 3.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,937,113 shares of the industrial products company’s stock worth $632,654,000 after buying an additional 98,223 shares during the period. Geode Capital Management LLC lifted its holdings in Packaging Co. of America by 0.6% in the third quarter. Geode Capital Management LLC now owns 2,337,296 shares of the industrial products company’s stock valued at $501,896,000 after buying an additional 12,936 shares during the period. FMR LLC boosted its position in Packaging Co. of America by 3.4% during the third quarter. FMR LLC now owns 1,076,350 shares of the industrial products company’s stock valued at $231,846,000 after acquiring an additional 35,827 shares during the last quarter. Finally, Stifel Financial Corp boosted its position in Packaging Co. of America by 1,462.2% during the third quarter. Stifel Financial Corp now owns 573,073 shares of the industrial products company’s stock valued at $123,440,000 after acquiring an additional 536,389 shares during the last quarter. Institutional investors own 89.78% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on PKG shares. Citigroup lifted their price target on shares of Packaging Co. of America from $232.00 to $235.00 and gave the company a “neutral” rating in a research report on Monday, January 6th. StockNews.com lowered shares of Packaging Co. of America from a “buy” rating to a “hold” rating in a report on Wednesday, January 29th. Wells Fargo & Company decreased their price objective on Packaging Co. of America from $253.00 to $236.00 and set an “overweight” rating for the company in a report on Thursday, January 30th. Truist Financial reissued a “buy” rating and set a $265.00 price target (down from $282.00) on shares of Packaging Co. of America in a research report on Thursday, January 30th. Finally, Jefferies Financial Group raised Packaging Co. of America from a “hold” rating to a “buy” rating and raised their target price for the company from $215.00 to $280.00 in a research report on Wednesday, December 18th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $233.00.

Packaging Co. of America Stock Down 0.2 %

Shares of NYSE:PKG opened at $210.20 on Thursday. The firm has a market capitalization of $18.88 billion, a PE ratio of 23.54, a price-to-earnings-growth ratio of 2.29 and a beta of 0.77. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.98 and a current ratio of 2.95. Packaging Co. of America has a 52-week low of $161.55 and a 52-week high of $250.82. The firm has a fifty day moving average of $231.80 and a 200 day moving average of $220.80.

Packaging Co. of America (NYSE:PKG) last released its earnings results on Tuesday, January 28th. The industrial products company reported $2.47 earnings per share for the quarter, missing analysts’ consensus estimates of $2.51 by ($0.04). Packaging Co. of America had a return on equity of 19.67% and a net margin of 9.60%. As a group, research analysts anticipate that Packaging Co. of America will post 11.15 EPS for the current fiscal year.

Packaging Co. of America Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Friday, December 20th were given a dividend of $1.25 per share. The ex-dividend date was Friday, December 20th. This represents a $5.00 annualized dividend and a yield of 2.38%. Packaging Co. of America’s payout ratio is 55.99%.

Insiders Place Their Bets

In other news, Director Paul T. Stecko sold 10,500 shares of the business’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $244.91, for a total transaction of $2,571,555.00. Following the transaction, the director now directly owns 8,881 shares of the company’s stock, valued at approximately $2,175,045.71. The trade was a 54.18 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Robert P. Mundy sold 12,500 shares of the firm’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $240.62, for a total value of $3,007,750.00. Following the completion of the sale, the chief financial officer now directly owns 43,954 shares of the company’s stock, valued at $10,576,211.48. The trade was a 22.14 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 33,300 shares of company stock valued at $8,064,152 in the last ninety days. Company insiders own 1.70% of the company’s stock.

Packaging Co. of America Profile

Packaging Corporation of America engages in the production of container products. It operates through the following segments: Packaging, Paper, and Corporate and Other. The Packaging segment offers a variety of corrugated packaging products, such as conventional shipping containers. The Paper segment manufactures and sells a range of papers, including communication-based papers, and pressure sensitive papers.