Commerce Bank purchased a new stake in Packaging Corporation of America (NYSE:PKG - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 66,818 shares of the industrial products company's stock, valued at approximately $15,921,000. Commerce Bank owned approximately 0.07% of Packaging Corporation of America as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also added to or reduced their stakes in the company. DV Equities LLC purchased a new stake in shares of Packaging Corporation of America in the fourth quarter worth approximately $26,000. Covestor Ltd boosted its position in shares of Packaging Corporation of America by 140.0% during the fourth quarter. Covestor Ltd now owns 156 shares of the industrial products company's stock valued at $32,000 after buying an additional 91 shares during the last quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA grew its holdings 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 buying an additional 80 shares in the last quarter. Navalign LLC bought a new stake in Packaging Corporation of America during the fourth quarter worth $36,000. Finally, Geneos Wealth Management Inc. grew its holdings in Packaging Corporation of America by 40.4% during the first quarter. Geneos Wealth Management Inc. now owns 198 shares of the industrial products company's stock worth $39,000 after buying an additional 57 shares in the last quarter. Institutional investors and hedge funds own 89.78% of the company's stock.
Packaging Corporation of America Stock Performance
Shares of PKG opened at $253.03 on Friday. The company has a current ratio of 2.94, a quick ratio of 1.86 and a debt-to-equity ratio of 0.85. The company has a market capitalization of $22.54 billion, a price-to-earnings ratio of 32.86, a PEG ratio of 2.39 and a beta of 0.80. The stock has a 50 day moving average of $241.04 and a 200 day moving average of $227.54. 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 issued its quarterly earnings results on Wednesday, July 22nd. The industrial products company reported $2.35 EPS for the quarter, topping analysts' consensus estimates of $2.31 by $0.04. Packaging Corporation of America had a return on equity of 18.94% and a net margin of 7.25%.The business had revenue of $2.49 billion for the quarter, compared to analyst estimates of $2.49 billion. During the same period last year, the company posted $2.48 earnings per share. Packaging Corporation of America's quarterly revenue was up 14.7% compared to the same quarter last year. Packaging Corporation of America has set its Q3 2026 guidance at 2.910-2.910 EPS. As a group, sell-side analysts forecast that Packaging Corporation of America will post 10.48 earnings per share for the current year.
Analysts Set New Price Targets
Several brokerages have weighed in on PKG. Deutsche Bank Aktiengesellschaft upgraded Packaging Corporation of America from a "hold" rating to a "buy" rating and raised their price objective for the company from $225.00 to $256.00 in a research note on Monday, May 4th. UBS Group upped their target price on shares of Packaging Corporation of America from $271.00 to $292.00 and gave the stock a "buy" rating in a research note on Thursday, August 13th. Bank of America increased their target price on shares of Packaging Corporation of America from $242.00 to $263.00 and gave the company a "buy" rating in a report on Tuesday, July 14th. Weiss Ratings lowered shares of Packaging Corporation of America from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Tuesday, August 11th. Finally, 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. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $264.57.
Read Our Latest Report on PKG
Insider Buying and Selling at Packaging Corporation of America
In other news, President Thomas A. Hassfurther sold 7,063 shares of Packaging Corporation of America stock in a transaction on Friday, August 7th. The stock was sold at an average price of $254.00, for a total transaction of $1,794,002.00. Following the sale, the president directly owned 202,891 shares in the company, valued at $51,534,314. The trade was a 3.36% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Mark W. Kowlzan sold 9,266 shares of the business's stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $217.08, for a total transaction of $2,011,463.28. Following the completion of the transaction, the chief executive officer directly owned 473,610 shares in the company, valued at $102,811,258.80. This trade represents a 1.92% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 37,657 shares of company stock valued at $9,199,044. Insiders own 1.60% of the company's stock.
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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