<div id="readability-page-1"><p>Summit Financial Strategies Inc. lifted its position in Packaging Co. of America (NYSE:PKG - Free Report) by 5.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 234,495 shares of the industrial products company's stock after purchasing an additional 12,129 shares during the period. Packaging Co. of America comprises about 5.3% of Summit Financial Strategies Inc.'s portfolio, making the stock its 7th biggest holding. Summit Financial Strategies Inc. owned about 0.26% of Packaging Co. of America worth $42,809,000 at the end of the most recent reporting period.</p><ul><li>Packaging Corporation of America: Buy The Dip</li></ul><p>Several other large investors have also recently made changes to their positions in the company. International Assets Investment Management LLC raised its position in Packaging Co. of America by 19,323.7% during the fourth 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. Allspring Global Investments Holdings LLC raised its position in shares of Packaging Co. of America by 90.2% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 13,431 shares of the industrial products company's stock valued at $2,188,000 after buying an additional 6,368 shares during the last quarter. Perigon Wealth Management LLC acquired a new stake in shares of Packaging Co. of America in the fourth quarter valued at about $218,000. Louisiana State Employees Retirement System acquired a new stake in shares of Packaging Co. of America in the fourth quarter valued at about $880,000. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its position in shares of Packaging Co. of America by 2.7% in the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 258,557 shares of the industrial products company's stock valued at $42,122,000 after buying an additional 6,757 shares during the last quarter. 89.78% of the stock is currently owned by institutional investors and hedge funds. </p><h2>Insiders Place Their Bets</h2><p>In related news, SVP Donald R. Shirley sold 6,000 shares of the firm's stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $196.28, for a total transaction of $1,177,680.00. Following the completion of the transaction, the senior vice president now owns 20,772 shares of the company's stock, valued at $4,077,128.16. The sale was disclosed in a document filed with the Securities &amp; Exchange Commission, which is available at this link. In related news, EVP Charles J. Carter sold 5,389 shares of the firm'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 transaction of $1,057,752.92. Following the transaction, the executive vice president now owns 25,539 shares of the company's stock, valued at $5,012,794.92. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Donald R. Shirley sold 6,000 shares of Packaging Co. of America stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $196.28, for a total transaction 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 disclosure for this sale can be found here. 1.60% of the stock is owned by corporate insiders. </p><h2>Packaging Co. of America Price Performance</h2><ul><li>Packaging Corporation of America: A Total Package to Buy and Hold</li></ul><p>PKG stock traded up $0.83 during trading on Friday, hitting $196.60. The stock had a trading volume of 1,392,788 shares, compared to its average volume of 612,493. The company's 50 day moving average price is $188.74 and its two-hundred day moving average price is $182.38. Packaging Co. of America has a 1-year low of $143.82 and a 1-year high of $201.99. The stock has a market cap of $17.66 billion, a price-to-earnings ratio of 24.58, a price-to-earnings-growth ratio of 5.03 and a beta of 0.77. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.71 and a current ratio of 2.43. </p><p>Packaging Co. of America (NYSE:PKG - Get Free Report) last issued 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. The business 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 18.21% and a net margin of 9.06%. The company's revenue for the quarter was up 6.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.31 EPS. On average, sell-side analysts forecast that Packaging Co. of America will post 8.71 EPS for the current fiscal year. </p><h2>Analysts Set New Price Targets</h2><ul><li> International Paper's 5% Yield Offers Big Value</li></ul><p>A number of brokerages have recently commented on PKG. Citigroup increased their target price on shares of Packaging Co. of America from $181.00 to $187.00 and gave the company a &#34;neutral&#34; rating in a research report on Monday, July 8th. StockNews.com cut shares of Packaging Co. of America from a &#34;buy&#34; rating to a &#34;hold&#34; rating in a research report on Monday, August 12th. 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 &#34;buy&#34; rating in a research report on Monday, June 17th. Wells Fargo &amp; Company increased their target price on shares of Packaging Co. of America from $194.00 to $215.00 and gave the stock an &#34;overweight&#34; rating in a research note on Thursday, July 25th. Finally, Truist Financial increased their target price on shares of Packaging Co. of America from $215.00 to $219.00 and gave the stock a &#34;buy&#34; rating in a research note on Thursday, July 25th. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of &#34;Hold&#34; and an average price target of $190.50.</p><p><b>Get Our Latest Stock Report on Packaging Co. of America</b></p><h2>Packaging Co. of America Company Profile</h2> (Free Report)<p>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.</p><h2>See Also</h2><ul><li>Five stocks we like better than Packaging Co. of America</li><li>How to Invest in Blue Chip Stocks</li><li>This Small Cap Wealth Management Stock Could Provide Big Returns</li><li>The How and Why of Investing in Gold Stocks</li><li>Bumble's Valuation Hits an All-Time Low, Can Its Fortunes Change?</li><li>The 3 Best Fintech Stocks to Buy Now</li><li>MarketBeat Week in Review – 8/12 - 8/16</li></ul><p><img src="https://imageproxy.pbkrs.com/https://www.marketbeat.com/scripts/SECFilingChart.ashx/query-UHJlZml4PU5ZU0UmU3ltYm9sPVBLRw?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" width="650" height="350" original-src="https://imageproxy.pbkrs.com/https://www.marketbeat.com/scripts/SECFilingChart.ashx/query-UHJlZml4PU5ZU0UmU3ltYm9sPVBLRw"/></p><p><em>This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. 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<p>Summit Financial Strategies Inc. increased its stake in Packaging Co. of America by 5.5% in Q2, now owning 234,495 shares. Notable investor movements included International Assets Investment Management's significant increase of 19,323.7%. Insider selling activity was noted by SVP Donald R. Shirley and EVP Charles J. Carter, selling shares in late July. The stock is heavily owned by institutions, while it has shown strong price performance, trading at $90.60 as of the last trading session. The company reported earnings per share of $1.20, exceeding analyst estimates.</p>

Packaging Co. of America (NYSE:PKG) Shares Acquired by Summit Financial Strategies Inc.