Sax Wealth Advisors LLC Has $289,000 Stake in Packaging Co. of America (NYSE:PKG)

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

Other institutional investors have also modified their holdings of the company. DAVENPORT & Co LLC bought a new position in Packaging Co. of America in the fourth quarter valued at approximately $319,000. Asset Management One Co. Ltd. boosted its stake in Packaging Co. of America by 19.3% in the 4th quarter. Asset Management One Co. Ltd. now owns 43,768 shares of the industrial products company’s stock worth $7,149,000 after purchasing an additional 7,066 shares during the period. International Assets Investment Management LLC boosted its stake in Packaging Co. of America by 19,323.7% in 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 purchasing an additional 30,145 shares during the period. Stratos Wealth Partners LTD. increased its holdings in Packaging Co. of America by 7.2% during the 4th quarter. Stratos Wealth Partners LTD. now owns 4,203 shares of the industrial products company’s stock worth $685,000 after purchasing an additional 283 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its stake in shares of 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 purchasing an additional 835 shares during the period. Institutional investors own 89.78% of the company’s stock.

Packaging Co. of America Stock Performance

Packaging Co. of America stock traded down $2.70 during midday trading on Friday, reaching $194.07. 451,514 shares of the company’s stock were exchanged, compared to its average volume of 612,002. The stock’s 50-day simple moving average is $187.54 and its 200 day simple moving average is $181.58. The firm has a market cap of $17.43 billion, a price-to-earnings ratio of 24.26, a P/E/G ratio of 5.14 and a beta of 0.77. 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.

Packaging Co. of America (NYSE:PKG) last released its quarterly earnings data on Tuesday, July 23rd. The industrial products company reported $2.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.14 by $0.06. The company had revenue of $2.08 billion during the quarter, compared to analysts’ expectations of $2.02 billion. Packaging Co. of America had a return on equity of 18.39% and a net margin of 9.06%. The business’s revenue was up 6.3% on a year-over-year basis. During the same period last year, the firm posted $2.31 earnings per share. On average, analysts expect that Packaging Co. of America will post 8.62 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on PKG shares. Truist Financial upped their price objective on Packaging Co. of America from $215.00 to $219.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Wells Fargo & Company lifted their price objective on shares of Packaging Co. of America from $194.00 to $215.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. BNP Paribas lowered shares of Packaging Co. of America from an “outperform” rating to a “neutral” rating and set a $182.00 price target on the stock. in a research note on Friday, April 12th. Bank of America lifted their target price on Packaging Co. of America from $197.00 to $200.00 and gave the company a “buy” rating in a research report on Monday, June 17th. Finally, Citigroup increased their price target on 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. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, Packaging Co. of America presently has a consensus rating of “Moderate Buy” and a consensus price target of $190.50.

Insider Activity

In related news, Director Karen E. Gowland bought 300 shares of Packaging Co. of America stock in a transaction that occurred on Wednesday, May 15th. The stock was acquired at an average price of $182.06 per share, with a total value of $54,618.00. Following the acquisition, the director now owns 916 shares of the company’s stock, valued at approximately $166,766.96. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Packaging Co. of America news, EVP Charles J. Carter sold 5,389 shares of the company’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 directly owns 25,539 shares of the company’s stock, valued at approximately $5,012,794.92. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Karen E. Gowland bought 300 shares of the company’s stock in a transaction dated Wednesday, May 15th. The shares were purchased at an average cost of $182.06 per share, with a total value of $54,618.00. Following the acquisition, the director now directly owns 916 shares of the company’s stock, valued at approximately $166,766.96. The disclosure for this purchase can be found here. Insiders own 1.60% of the company’s stock.

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.