J.W. Cole Advisors Inc. Acquires New Shares in Packaging Co. of America (NYSE:PKG)

J.W. Cole Advisors Inc. bought a new position in Packaging Co. of America (NYSE:PKG) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 1,729 shares of the industrial products company’s stock, valued at approximately $316,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. CANADA LIFE ASSURANCE Co boosted its position 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 last quarter. Mitsubishi UFJ Trust & Banking Corp boosted its position in Packaging Co. of America by 30.4% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 90,686 shares of the industrial products company’s stock worth $17,168,000 after purchasing an additional 21,143 shares during the last quarter. Cim LLC purchased a new position in Packaging Co. of America in the fourth quarter worth about $2,003,000. Summit Financial Strategies Inc. boosted its position in Packaging Co. of America by 5.5% in the second quarter. Summit Financial Strategies Inc. now owns 234,495 shares of the industrial products company’s stock worth $42,809,000 after purchasing an additional 12,129 shares during the last quarter. Finally, AXS Investments LLC purchased a new position in Packaging Co. of America in the fourth quarter worth about $766,000. 89.78% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

PKG has been the topic of several recent research reports. Wells Fargo & Company raised 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. Truist Financial raised their price objective on Packaging Co. of America from $215.00 to $219.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. Bank of America raised their price objective on Packaging Co. of America from $197.00 to $200.00 and gave the stock a “buy” rating in a research note on Monday, June 17th. StockNews.com raised Packaging Co. of America from a “hold” rating to a “buy” rating in a research note on Thursday. Finally, Citigroup raised their price objective on Packaging Co. of America from $181.00 to $187.00 and gave the stock a “neutral” rating in a research note on Monday, July 8th. Four analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, Packaging Co. of America has an average rating of “Moderate Buy” and a consensus target price of $190.50.

Packaging Co. of America Stock Down 0.4 %

Shares of PKG opened at $212.40 on Thursday. The stock has a market capitalization of $19.07 billion, a price-to-earnings ratio of 26.55, a price-to-earnings-growth ratio of 4.10 and a beta of 0.77. Packaging Co. of America has a 1 year low of $143.82 and a 1 year high of $217.69. The business’s 50 day simple moving average is $198.56 and its 200-day simple moving average is $188.15. 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 quarterly earnings data on Tuesday, July 23rd. The industrial products company reported $2.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.14 by $0.06. The business had revenue of $2.08 billion for the quarter, compared to analysts’ expectations of $2.02 billion. Packaging Co. of America had a return on equity of 18.21% and a net margin of 9.06%. The company’s revenue for the quarter was up 6.3% on a year-over-year basis. During the same period in the prior year, the firm earned $2.31 EPS. As a group, equities analysts expect that Packaging Co. of America will post 8.72 earnings per share for the current fiscal year.

Packaging Co. of America Dividend Announcement

The business 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 annualized dividend and a dividend yield of 2.35%. The ex-dividend date is Monday, September 16th. Packaging Co. of America’s dividend payout ratio is currently 62.50%.

Insider Activity

In other news, EVP Charles J. Carter sold 5,389 shares of the business’s stock in a transaction that occurred 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 of the company’s stock, valued at approximately $5,012,794.92. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, EVP Charles J. Carter sold 5,389 shares of the business’s stock in a transaction that occurred 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 of the company’s stock, valued at approximately $5,012,794.92. The transaction 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 business’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 value of $1,177,680.00. Following the transaction, the senior vice president now directly owns 20,772 shares in the company, valued at approximately $4,077,128.16. The disclosure for this sale can be found here. Corporate insiders own 1.60% of the company’s stock.

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.