OMERS ADMINISTRATION Corp acquired a new position in Packaging Corporation of America (NYSE:PKG - Free Report) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 18,474 shares of the industrial products company's stock, valued at approximately $4,402,000.
Several other hedge funds have also modified their holdings of the company. DV Equities LLC purchased a new position in shares of Packaging Corporation of America in the 4th quarter valued at about $26,000. Covestor Ltd raised its holdings in Packaging Corporation of America by 140.0% in the 4th quarter. Covestor Ltd now owns 156 shares of the industrial products company's stock worth $32,000 after purchasing an additional 91 shares during the period. Towarzystwo Funduszy Inwestycyjnych PZU SA boosted its position in Packaging Corporation of America by 94.1% during the fourth quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 165 shares of the industrial products company's stock worth $34,000 after purchasing an additional 80 shares in the last quarter. Navalign LLC acquired a new stake in Packaging Corporation of America in the fourth quarter valued at approximately $36,000. Finally, Geneos Wealth Management Inc. increased its position in shares of Packaging Corporation of America by 40.4% in the first quarter. Geneos Wealth Management Inc. now owns 198 shares of the industrial products company's stock valued at $39,000 after buying an additional 57 shares in the last quarter. 89.78% of the stock is owned by hedge funds and other institutional investors.
Insider Activity at Packaging Corporation of America
In other Packaging Corporation of America news, VP Donald R. Shirley sold 12,000 shares of the business's stock in a transaction that occurred on Thursday, August 20th. The stock was sold at an average price of $250.71, for a total value of $3,008,520.00. Following the sale, the vice president owned 19,110 shares of the company's stock, valued at $4,791,068.10. The trade was a 38.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, President Thomas A. Hassfurther sold 7,063 shares of the company's stock in a transaction on Friday, August 7th. The stock was sold at an average price of $254.00, for a total value of $1,794,002.00. Following 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 40,391 shares of company stock valued at $10,196,101 in the last quarter. 1.60% of the stock is owned by insiders.
Packaging Corporation of America Trading Down 0.9%
Shares of PKG stock opened at $246.60 on Wednesday. The company has a current ratio of 2.94, a quick ratio of 1.86 and a debt-to-equity ratio of 0.85. Packaging Corporation of America has a twelve month low of $191.50 and a twelve month high of $259.98. The company's 50-day moving average price is $241.76 and its 200-day moving average price is $227.83. The stock has a market cap of $21.97 billion, a price-to-earnings ratio of 32.03, a PEG ratio of 2.35 and a beta of 0.80.
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 for the quarter, topping the consensus estimate of $2.31 by $0.04. The company had revenue of $2.49 billion during the quarter, compared to analyst estimates of $2.49 billion. Packaging Corporation of America had a net margin of 7.25% and a return on equity of 18.94%. Packaging Corporation of America's revenue was up 14.7% compared to the same quarter last year. During the same quarter last year, the firm posted $2.48 earnings per share. Packaging Corporation of America has set its Q3 2026 guidance at 2.910-2.910 EPS. As a group, equities analysts predict that Packaging Corporation of America will post 10.48 earnings per share for the current year.
Analysts Set New Price Targets
PKG has been the subject of several recent analyst reports. Citigroup boosted their price target on shares of Packaging Corporation of America from $241.00 to $254.00 and gave the stock a "neutral" rating in a report on Tuesday, July 28th. UBS Group lifted their target price on shares of Packaging Corporation of America from $271.00 to $292.00 and gave the company a "buy" rating in a research report on Thursday, August 13th. Truist Financial boosted their target price on shares of Packaging Corporation of America from $258.00 to $270.00 and gave the stock a "buy" rating in a research note on Wednesday, July 15th. JPMorgan Chase & Co. upped their price target on shares of Packaging Corporation of America from $269.00 to $271.00 and gave the stock an "overweight" rating in a research report on Friday, July 24th. Finally, Bank of America raised their price target on shares of Packaging Corporation of America from $242.00 to $263.00 and gave the company a "buy" rating in a research note on Tuesday, July 14th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $264.57.
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About Packaging Corporation of America
(
Free Report)
Packaging Corporation of America NYSE: PKG is a leading North American manufacturer of containerboard and corrugated packaging products. The company produces a range of paper-based packaging solutions including linerboard, corrugating medium, corrugated shipping containers, retail-ready packaging and point-of-purchase displays. In addition to core packaging products, Packaging Corporation of America offers packaging design, testing and supply-chain services intended to optimize protection, cost and sustainability for customers.
Headquartered in Lake Forest, Illinois, the company operates an integrated network of mills and corrugated manufacturing facilities across the United States and serves customers throughout North America in industries such as e-commerce, grocery and food & beverage, consumer packaged goods and industrial markets.
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