Alliancebernstein L.P. Has $19.27 Million Holdings in Packaging Corporation of America $PKG

Key Points

• Alliancebernstein L.P. reduced its ownership in Packaging Corporation of America by 2.9%, holding 97,295 shares valued at approximately $19.27 million as of the latest reporting period.
• Several brokerages have increased their target prices for the stock, with Wells Fargo raising it to $200, while UBS Group set a target of $220, reflecting positive growth forecasts.
• Packaging Corporation of America reported $2.48 earnings per share for the latest quarter, surpassing estimates, and a quarterly dividend of $1.25 per share is scheduled for distribution on October 15th.

Alliancebernstein L.P. lessened its stake in Packaging Corporation of America (NYSE:PKG - Free Report) by 2.9% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 97,295 shares of the industrial products company's stock after selling 2,857 shares during the quarter. Alliancebernstein L.P. owned about 0.11% of Packaging Corporation of America worth $19,266,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of PKG. Clearstead Trust LLC raised its stake in Packaging Corporation of America by 118.6% during the first quarter. Clearstead Trust LLC now owns 129 shares of the industrial products company's stock worth $26,000 after acquiring an additional 70 shares in the last quarter. TCTC Holdings LLC raised its stake in Packaging Corporation of America by 86.4% during the first quarter. TCTC Holdings LLC now owns 151 shares of the industrial products company's stock worth $30,000 after acquiring an additional 70 shares in the last quarter. Alpine Bank Wealth Management acquired a new position in Packaging Corporation of America during the first quarter worth about $39,000. 1 North Wealth Services LLC acquired a new position in Packaging Corporation of America during the first quarter worth about $40,000. Finally, Banque Cantonale Vaudoise acquired a new position in Packaging Corporation of America during the first quarter worth about $40,000. Institutional investors and hedge funds own 89.78% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on PKG. Wells Fargo & Company boosted their target price on Packaging Corporation of America from $180.00 to $200.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 10th. UBS Group boosted their target price on Packaging Corporation of America from $210.00 to $220.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 29th. Truist Financial lowered their target price on Packaging Corporation of America from $239.00 to $238.00 and set a "buy" rating for the company in a research note on Friday, July 25th. Jefferies Financial Group downgraded Packaging Corporation of America from a "buy" rating to a "hold" rating and lowered their target price for the stock from $245.00 to $205.00 in a research note on Monday, June 16th. Finally, Citigroup boosted their price target on Packaging Corporation of America from $197.00 to $214.00 and gave the stock a "neutral" rating in a report on Friday, July 25th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Packaging Corporation of America currently has a consensus rating of "Moderate Buy" and an average price target of $215.40.

Packaging Corporation of America Stock Performance

NYSE:PKG opened at $213.25 on Thursday. The company has a market capitalization of $19.19 billion, a PE ratio of 21.28, a P/E/G ratio of 1.87 and a beta of 0.87. The company has a 50 day simple moving average of $204.37 and a two-hundred day simple moving average of $196.67. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.32 and a current ratio of 3.54. Packaging Corporation of America has a fifty-two week low of $172.71 and a fifty-two week high of $250.82.

Packaging Corporation of America (NYSE:PKG - Get Free Report) last released its earnings results on Wednesday, July 23rd. The industrial products company reported $2.48 earnings per share for the quarter, beating analysts' consensus estimates of $2.44 by $0.04. The business had revenue of $2.17 billion during the quarter, compared to the consensus estimate of $2.18 billion. Packaging Corporation of America had a net margin of 10.47% and a return on equity of 20.08%. The company's revenue for the quarter was up 4.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.20 EPS. Packaging Corporation of America has set its Q3 2025 guidance at 2.800-2.800 EPS. Research analysts anticipate that Packaging Corporation of America will post 10.44 earnings per share for the current year.

Packaging Corporation of America Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Monday, September 15th will be given a dividend of $1.25 per share. The ex-dividend date of this dividend is Monday, September 15th. This represents a $5.00 annualized dividend and a dividend yield of 2.3%. Packaging Corporation of America's dividend payout ratio (DPR) is 49.90%.

Packaging Corporation of America Profile

Packaging Corporation of America engages in the production of container products. It operates through the following segments: Packaging, Paper, and Corporate and Other. The Packaging segment offers a variety of corrugated packaging products, such as conventional shipping containers. The Paper segment manufactures and sells a range of papers, including communication-based papers, and pressure sensitive papers.

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. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.