7,711,541 Shares in Packaging Corporation of America $PKG Purchased by BlackRock Inc.

Key Points

• BlackRock acquired 7.71 million shares of Packaging Corporation of America in the second quarter, worth approximately $1.84 billion and representing an 8.65% stake. Institutional investors collectively own 89.78% of the company.
• Analysts maintain a generally positive outlook, with the stock carrying a consensus “Moderate Buy” rating and an average price target of $264.57. Several firms recently raised their targets to between $254 and $270.
• Packaging Corporation of America reported quarterly EPS of $2.35, beating estimates by $0.04, while revenue rose 14.7% year over year to $2.49 billion. Shares opened at $253.10, near the 12-month high of $259.98.

BlackRock Inc. purchased a new stake in shares of Packaging Corporation of America (NYSE:PKG - Free Report) in the second quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 7,711,541 shares of the industrial products company's stock, valued at approximately $1,837,506,000. BlackRock Inc. owned 8.65% of Packaging Corporation of America at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the business. DV Equities LLC bought a new position in shares of Packaging Corporation of America during the fourth quarter valued at approximately $26,000. Covestor Ltd boosted its position in shares of 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 in the last quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA grew its stake in shares of Packaging Corporation of America by 94.1% in the 4th 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 during the last quarter. Navalign LLC purchased a new stake in shares of Packaging Corporation of America in the 4th quarter worth approximately $36,000. Finally, Geneos Wealth Management Inc. increased its position in Packaging Corporation of America by 40.4% during the 1st 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. Institutional investors own 89.78% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Deutsche Bank Aktiengesellschaft upgraded Packaging Corporation of America from a "hold" rating to a "buy" rating and lifted their price objective for the company from $225.00 to $256.00 in a research note on Monday, May 4th. Weiss Ratings downgraded Packaging Corporation of America from a "buy (b-)" rating to a "hold (c+)" rating in a report on Tuesday, August 11th. Citigroup lifted their price target on Packaging Corporation of America from $241.00 to $254.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 28th. Truist Financial upped their price target 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. Finally, Bank of America upped their price target on shares of Packaging Corporation of America from $242.00 to $263.00 and gave the stock 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 company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $264.57.

Packaging Corporation of America Price Performance

Shares of NYSE PKG opened at $253.10 on Thursday. Packaging Corporation of America has a twelve month low of $191.50 and a twelve month high of $259.98. The firm has a market cap of $22.55 billion, a P/E ratio of 32.87, a PEG ratio of 2.36 and a beta of 0.80. The company has a 50 day moving average of $240.05 and a 200 day moving average of $227.17. The company has a quick ratio of 1.86, a current ratio of 2.94 and a debt-to-equity ratio of 0.85.

Packaging Corporation of America (NYSE:PKG - Get Free Report) last released its quarterly earnings data on Wednesday, July 22nd. The industrial products company reported $2.35 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analysts' expectations of $2.49 billion. During the same period in the prior year, the firm posted $2.48 EPS. The firm's quarterly revenue was up 14.7% on a year-over-year basis. Packaging Corporation of America has set its Q3 2026 guidance at 2.910-2.910 EPS. As a group, research analysts expect that Packaging Corporation of America will post 10.48 EPS for the current fiscal year.

Insiders Place Their Bets

In other Packaging Corporation of America news, CEO Mark W. Kowlzan sold 9,266 shares of the company's stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $217.08, for a total transaction of $2,011,463.28. Following the transaction, the chief executive officer owned 473,610 shares in the company, valued at approximately $102,811,258.80. This represents a 1.92% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Thomas A. Hassfurther sold 12,531 shares of the business's stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $250.00, for a total transaction of $3,132,750.00. Following the transaction, the president directly owned 218,751 shares of the company's stock, valued at $54,687,750. The trade was a 5.42% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 37,657 shares of company stock worth $9,199,044. Corporate insiders own 1.60% of the company's stock.

About Packaging Corporation of America

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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