1,592,949 Shares in Packaging Corporation of America $PKG Purchased by Bank of America Corp DE

Key Points

• Bank of America acquired 1.59 million shares of Packaging Corporation of America in the second quarter, worth approximately $379.6 million and representing a 1.79% stake.
• PCA reported quarterly EPS of $2.35, beating estimates of $2.31, while revenue rose 14.7% year over year to $2.49 billion. Analysts maintain a “Moderate Buy” consensus with an average price target of $264.14.
• The company declared a quarterly dividend of $1.50 per share, or $6.00 annually, yielding about 2.6%; meanwhile, insiders sold roughly 40,391 shares worth $10.2 million over the past three months.

Bank of America Corp DE bought a new stake in Packaging Corporation of America (NYSE:PKG - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 1,592,949 shares of the industrial products company's stock, valued at approximately $379,568,000. Bank of America Corp DE owned 1.79% of Packaging Corporation of America at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. TD Private Client Wealth LLC lifted its holdings in shares of Packaging Corporation of America by 2.9% in the 4th quarter. TD Private Client Wealth LLC now owns 1,929 shares of the industrial products company's stock valued at $398,000 after buying an additional 54 shares during the period. Root Financial Partners LLC increased its position in Packaging Corporation of America by 28.4% during the 1st quarter. Root Financial Partners LLC now owns 276 shares of the industrial products company's stock worth $59,000 after purchasing an additional 61 shares in the last quarter. CX Institutional raised its position in shares of Packaging Corporation of America by 8.2% in the second quarter. CX Institutional now owns 816 shares of the industrial products company's stock valued at $195,000 after buying an additional 62 shares during the last quarter. Phillips Wealth Planners LLC lifted its stake in shares of Packaging Corporation of America by 5.9% during the 4th quarter. Phillips Wealth Planners LLC now owns 1,136 shares of the industrial products company's stock worth $250,000 after purchasing an additional 63 shares during the period. Finally, Rehmann Capital Advisory Group boosted its stake in Packaging Corporation of America by 4.5% in the 4th quarter. Rehmann Capital Advisory Group now owns 1,539 shares of the industrial products company's stock worth $318,000 after buying an additional 66 shares during the last quarter. 89.78% of the stock is owned by hedge funds and other institutional investors.

Packaging Corporation of America Stock Down 0.9%

PKG stock opened at $231.23 on Wednesday. The firm has a market cap of $20.60 billion, a PE ratio of 30.03, a P/E/G ratio of 2.00 and a beta of 0.78. The company has a debt-to-equity ratio of 0.85, a current ratio of 2.94 and a quick ratio of 1.86. The firm has a 50 day simple moving average of $241.67 and a 200 day simple moving average of $227.53. Packaging Corporation of America has a 12 month low of $191.50 and a 12 month high of $259.98.

Packaging Corporation of America (NYSE:PKG - Get Free Report) last announced its earnings results on Wednesday, July 22nd. The industrial products company reported $2.35 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.31 by $0.04. The company had revenue of $2.49 billion for the quarter, compared to analyst estimates of $2.49 billion. Packaging Corporation of America had a return on equity of 18.94% and a net margin of 7.25%.Packaging Corporation of America's revenue for the quarter was up 14.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.48 earnings per share. Packaging Corporation of America has set its Q3 2026 guidance at 2.910-2.910 EPS. Equities research analysts forecast that Packaging Corporation of America will post 10.49 earnings per share for the current fiscal year.

Packaging Corporation of America Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Tuesday, September 15th will be paid a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a yield of 2.6%. The ex-dividend date of this dividend is Tuesday, September 15th. Packaging Corporation of America's payout ratio is 77.92%.

Analyst Ratings Changes

PKG has been the subject of several research reports. UBS Group boosted their price objective on shares of Packaging Corporation of America from $271.00 to $292.00 and gave the company a "buy" rating in a research note on Thursday, August 13th. JPMorgan Chase & Co. upped their target price on shares of Packaging Corporation of America from $269.00 to $271.00 and gave the company an "overweight" rating in a research note on Friday, July 24th. Weiss Ratings upgraded Packaging Corporation of America from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Tuesday, August 25th. Bank of America dropped their target price on shares of Packaging Corporation of America from $280.00 to $260.00 and set a "buy" rating for the company in a research report on Friday, September 11th. Finally, Wells Fargo & Company reissued an "equal weight" rating and set a $246.00 price target (up from $245.00) on shares of Packaging Corporation of America in a research report on Thursday, July 9th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $264.14.

Insider Activity

In other Packaging Corporation of America news, VP Donald R. Shirley sold 12,000 shares of Packaging Corporation of America stock in a transaction on Thursday, August 20th. The shares were sold at an average price of $250.71, for a total transaction of $3,008,520.00. Following the completion of the sale, the vice president owned 19,110 shares of the company's stock, valued at $4,791,068.10. This trade represents a 38.57% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, President Thomas A. Hassfurther sold 7,063 shares of the business's stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $254.00, for a total value of $1,794,002.00. Following the completion of the transaction, the president owned 202,891 shares in the company, valued at $51,534,314. This trade represents a 3.36% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 40,391 shares of company stock valued at $10,196,101. Company insiders own 1.60% of the company's stock.

About Packaging Corporation of America

Packaging Corporation of America NYSE: PKG manufactures and sells containerboard and corrugated packaging products. Its offerings include shipping boxes, retail displays, protective packaging and other custom-designed packaging solutions used by businesses in a range of industries.

The company also produces uncoated paper products, including communication papers, office papers and specialty papers. PCA serves customers primarily across the United States and operates a network of paper mills, corrugated products plants, design centers and related facilities.

Packaging Corporation of America was established in 1999 following the acquisition of Tenneco Packaging by an investor group and its subsequent separation from Tenneco Inc Mark W.

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