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

Benchmark Financial Wealth Advisors LLC grew its position in Packaging Co. of America (NYSE:PKG) by 22.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,040 shares of the industrial products company’s stock after acquiring an additional 368 shares during the quarter. Benchmark Financial Wealth Advisors LLC’s holdings in Packaging Co. of America were worth $439,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Asset Dedication LLC lifted its position in shares of Packaging Co. of America by 200.0% during the 2nd quarter. Asset Dedication LLC now owns 168 shares of the industrial products company’s stock worth $31,000 after buying an additional 112 shares during the period. Central Pacific Bank Trust Division acquired a new stake in shares of Packaging Co. of America in the 3rd quarter valued at $32,000. Tortoise Investment Management LLC acquired a new stake in shares of Packaging Co. of America in the 2nd quarter valued at $33,000. Headlands Technologies LLC bought a new position in shares of Packaging Co. of America in the 1st quarter worth $43,000. Finally, Strategic Financial Concepts LLC bought a new position in shares of Packaging Co. of America in the 2nd quarter worth $50,000. Institutional investors own 89.78% of the company’s stock.

Packaging Co. of America Price Performance

Shares of NYSE PKG opened at $232.65 on Wednesday. The business’s 50 day moving average price is $215.92 and its two-hundred day moving average price is $196.64. The company has a market cap of $20.89 billion, a PE ratio of 27.12, a price-to-earnings-growth ratio of 3.25 and a beta of 0.76. The company has a quick ratio of 1.71, a current ratio of 2.43 and a debt-to-equity ratio of 0.60. Packaging Co. of America has a twelve month low of $148.50 and a twelve month high of $232.98.

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

Packaging Co. of America Announces Dividend

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

Wall Street Analysts Forecast Growth

PKG has been the topic of several recent analyst reports. Citigroup lifted their target price on Packaging Co. of America from $199.00 to $221.00 and gave the stock a “neutral” rating in a report on Wednesday, October 2nd. StockNews.com downgraded Packaging Co. of America from a “buy” rating to a “hold” rating in a research report on Friday, November 1st. Wells Fargo & Company lifted their target price on Packaging Co. of America from $235.00 to $253.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. Finally, Truist Financial reaffirmed a “buy” rating and issued a $252.00 target price (up previously from $242.00) on shares of Packaging Co. of America in a research report on Thursday, October 24th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target 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.