Sierra Summit Advisors LLC Purchases 516 Shares of Packaging Co. of America (NYSE:PKG)

Sierra Summit Advisors LLC boosted its position in shares of Packaging Co. of America (NYSE:PKG) by 17.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,545 shares of the industrial products company’s stock after acquiring an additional 516 shares during the quarter. Sierra Summit Advisors LLC’s holdings in Packaging Co. of America were worth $647,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Principal Securities Inc. bought a new stake in shares of Packaging Co. of America in the 4th quarter valued at about $110,000. Envestnet Portfolio Solutions Inc. raised its stake in Packaging Co. of America by 38.3% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 6,004 shares of the industrial products company’s stock valued at $978,000 after buying an additional 1,662 shares during the period. Avantax Advisory Services Inc. raised its stake in Packaging Co. of America by 4.4% in the fourth quarter. Avantax Advisory Services Inc. now owns 8,809 shares of the industrial products company’s stock valued at $1,435,000 after buying an additional 370 shares during the period. Vanguard Personalized Indexing Management LLC lifted its position in shares of Packaging Co. of America by 18.0% in the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 5,364 shares of the industrial products company’s stock valued at $874,000 after buying an additional 820 shares during the last quarter. Finally, Janney Montgomery Scott LLC boosted its stake in shares of Packaging Co. of America by 2.3% during the 4th quarter. Janney Montgomery Scott LLC now owns 31,966 shares of the industrial products company’s stock worth $5,208,000 after acquiring an additional 727 shares during the period. Institutional investors and hedge funds own 89.78% of the company’s stock.

Packaging Co. of America Trading Up 0.9 %

PKG stock opened at $210.27 on Monday. Packaging Co. of America has a 52 week low of $143.82 and a 52 week high of $211.90. The company has a market capitalization of $18.88 billion, a PE ratio of 26.28, a price-to-earnings-growth ratio of 4.03 and a beta of 0.77. The company’s 50-day simple moving average is $197.12 and its 200 day simple moving average is $187.69. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.71 and a current ratio of 2.43.

Packaging Co. of America (NYSE:PKG) last announced its earnings results 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 net margin of 9.06% and a return on equity of 18.21%. The firm had revenue of $2.08 billion for the quarter, compared to analyst estimates of $2.02 billion. During the same quarter in the prior year, the business posted $2.31 EPS. The business’s revenue was up 6.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that Packaging Co. of America will post 8.72 earnings per share for the current year.

Packaging Co. of America Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 16th will be issued a $1.25 dividend. The ex-dividend date of this dividend is Monday, September 16th. This represents a $5.00 annualized dividend and a yield of 2.38%. Packaging Co. of America’s dividend payout ratio is presently 62.50%.

Insider Buying and Selling at Packaging Co. of America

In related news, EVP Charles J. Carter sold 5,389 shares of the firm’s stock in a transaction 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 transaction, the executive vice president now owns 25,539 shares in the company, valued at $5,012,794.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, 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 completion of the transaction, the senior vice president now directly owns 20,772 shares in the company, valued at approximately $4,077,128.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Charles J. Carter sold 5,389 shares of the 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 sale, 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. Insiders own 1.60% of the company’s stock.

Analyst Ratings Changes

PKG has been the topic of a number of research analyst reports. Wells Fargo & Company increased their price target on Packaging Co. of America from $194.00 to $215.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. Citigroup increased 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 report on Monday, July 8th. StockNews.com downgraded shares of Packaging Co. of America from a “buy” rating to a “hold” rating in a report on Wednesday, September 11th. 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. Finally, Bank of America raised their price objective on shares of Packaging Co. of America from $197.00 to $200.00 and gave the stock a “buy” rating in a research report on Monday, June 17th. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $190.50.

About Packaging Co. of America

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.