Sax Wealth Advisors LLC Buys 136 Shares of Packaging Co. of America (NYSE:PKG)

Sax Wealth Advisors LLC lifted its stake in shares of Packaging Co. of America (NYSE:PKG) by 9.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,582 shares of the industrial products company’s stock after purchasing an additional 136 shares during the period. Sax Wealth Advisors LLC’s holdings in Packaging Co. of America were worth $289,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of PKG. DAVENPORT & Co LLC bought a new position in Packaging Co. of America during the fourth quarter valued at $319,000. Asset Management One Co. Ltd. lifted its position in shares of Packaging Co. of America by 19.3% during the 4th quarter. Asset Management One Co. Ltd. now owns 43,768 shares of the industrial products company’s stock valued at $7,149,000 after buying an additional 7,066 shares during the last quarter. International Assets Investment Management LLC grew its stake in shares of Packaging Co. of America by 19,323.7% during the 4th quarter. International Assets Investment Management LLC now owns 30,301 shares of the industrial products company’s stock worth $4,936,000 after acquiring an additional 30,145 shares during the period. Stratos Wealth Partners LTD. increased its holdings in Packaging Co. of America by 7.2% in the 4th quarter. Stratos Wealth Partners LTD. now owns 4,203 shares of the industrial products company’s stock worth $685,000 after acquiring an additional 283 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its stake in Packaging Co. of America by 2.6% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 33,433 shares of the industrial products company’s stock valued at $5,447,000 after acquiring an additional 835 shares during the period. Institutional investors own 89.78% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on PKG. Wells Fargo & Company increased their target price on shares of Packaging Co. of America from $194.00 to $215.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. Truist Financial upped 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 research note on Thursday, July 25th. Citigroup lifted their price objective on shares of 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. BNP Paribas cut shares of Packaging Co. of America from an “outperform” rating to a “neutral” rating and set a $182.00 target price on the stock. in a report on Friday, April 12th. Finally, StockNews.com raised Packaging Co. of America from a “hold” rating to a “buy” rating in a report on Wednesday, July 24th. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $190.50.

Packaging Co. of America Price Performance

NYSE PKG traded down $2.70 on Friday, hitting $194.07. The stock had a trading volume of 451,514 shares, compared to its average volume of 612,002. The firm has a 50-day moving average of $187.54 and a 200-day moving average of $181.58. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.74 and a current ratio of 2.46. Packaging Co. of America has a 52-week low of $143.82 and a 52-week high of $201.99. The company has a market capitalization of $17.43 billion, a price-to-earnings ratio of 24.26, a price-to-earnings-growth ratio of 5.14 and a beta of 0.77.

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 analysts’ consensus estimates of $2.14 by $0.06. Packaging Co. of America had a return on equity of 18.39% and a net margin of 9.06%. The company had revenue of $2.08 billion for the quarter, compared to the consensus estimate of $2.02 billion. During the same quarter last year, the business posted $2.31 earnings per share. The firm’s revenue was up 6.3% compared to the same quarter last year. Equities analysts expect that Packaging Co. of America will post 8.62 EPS for the current year.

Insider Activity

In other Packaging Co. of America news, EVP Charles J. Carter sold 5,389 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 $1,057,752.92. Following the completion of 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 available through this link. In other news, Director Karen E. Gowland acquired 300 shares of the firm’s stock in a transaction that occurred on Wednesday, May 15th. The shares were bought at an average cost of $182.06 per share, with a total value of $54,618.00. Following the acquisition, the director now owns 916 shares in the company, valued at approximately $166,766.96. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 value of $1,057,752.92. Following the completion of the sale, the executive vice president now owns 25,539 shares of the company’s stock, valued at approximately $5,012,794.92. The disclosure for this sale can be found here. Corporate insiders own 1.60% of the company’s stock.

Packaging Co. of America Company 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.