Benchmark Financial Wealth Advisors LLC Buys 368 Shares of Packaging Co. of America (NYSE:PKG)

Benchmark Financial Wealth Advisors LLC lifted its stake in Packaging Co. of America (NYSE:PKG) by 22.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,040 shares of the industrial products company’s stock after buying an additional 368 shares during the period. Benchmark Financial Wealth Advisors LLC’s holdings in Packaging Co. of America were worth $439,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Central Pacific Bank Trust Division bought a new stake in Packaging Co. of America during the third quarter worth $32,000. Asset Dedication LLC lifted its stake in Packaging Co. of America by 200.0% during the second quarter. Asset Dedication LLC now owns 168 shares of the industrial products company’s stock worth $31,000 after purchasing an additional 112 shares during the last quarter. Tortoise Investment Management LLC bought a new stake in Packaging Co. of America during the second quarter worth $33,000. Headlands Technologies LLC bought a new stake in Packaging Co. of America during the first quarter worth $43,000. Finally, Allworth Financial LP lifted its stake in Packaging Co. of America by 65.1% during the third quarter. Allworth Financial LP now owns 312 shares of the industrial products company’s stock worth $67,000 after purchasing an additional 123 shares during the last quarter. 89.78% of the stock is currently owned by institutional investors.

Packaging Co. of America Stock Performance

Shares of Packaging Co. of America stock opened at $232.65 on Wednesday. The company has a current ratio of 2.43, a quick ratio of 1.71 and a debt-to-equity ratio of 0.60. The business has a 50-day moving average price of $215.92 and a two-hundred day moving average price of $196.64. Packaging Co. of America has a 1-year low of $148.50 and a 1-year high of $232.98. The company has a market cap of $20.89 billion, a P/E ratio of 27.12, a PEG ratio of 3.25 and a beta of 0.76.

Packaging Co. of America (NYSE:PKG) last released its quarterly earnings data on Tuesday, October 22nd. The industrial products company reported $2.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.50 by $0.15. The company had revenue of $2.18 billion for the quarter, compared to analysts’ expectations of $2.09 billion. Packaging Co. of America had a net margin of 9.46% and a return on equity of 19.35%. The business’s revenue was up 14.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.05 EPS. As a group, analysts anticipate that Packaging Co. of America will post 9 EPS for the current year.

Packaging Co. of America Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Tuesday, October 15th were given a $1.25 dividend. The ex-dividend date of this dividend was Monday, September 16th. This represents a $5.00 annualized dividend and a yield of 2.15%. Packaging Co. of America’s payout ratio is 58.28%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. StockNews.com cut Packaging Co. of America from a “buy” rating to a “hold” rating in a research note on Friday, November 1st. Wells Fargo & Company increased their price objective on Packaging Co. of America from $235.00 to $253.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. Citigroup increased their price objective on Packaging Co. of America from $199.00 to $221.00 and gave the company a “neutral” rating in a report on Wednesday, October 2nd. Finally, Truist Financial reiterated a “buy” rating and set a $252.00 price target (up from $242.00) on shares of Packaging Co. of America in a report on Thursday, October 24th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, Packaging Co. of America currently has an average rating of “Hold” and an average target price of $221.60.

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.