Alliancebernstein L.P. Sells 2,857 Shares of 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 holdings in Packaging Corporation of America (NYSE:PKG - Free Report) by 2.9% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 97,295 shares of the industrial products company's stock after selling 2,857 shares during the quarter. Alliancebernstein L.P. owned 0.11% of Packaging Corporation of America worth $19,266,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Clearstead Trust LLC boosted its holdings in Packaging Corporation of America by 118.6% in the 1st quarter. Clearstead Trust LLC now owns 129 shares of the industrial products company's stock valued at $26,000 after purchasing an additional 70 shares during the period. TCTC Holdings LLC raised its position in shares of Packaging Corporation of America by 86.4% in the first quarter. TCTC Holdings LLC now owns 151 shares of the industrial products company's stock valued at $30,000 after buying an additional 70 shares in the last quarter. Alpine Bank Wealth Management bought a new stake in shares of Packaging Corporation of America in the first quarter valued at approximately $39,000. 1 North Wealth Services LLC acquired a new stake in Packaging Corporation of America during the first quarter worth approximately $40,000. Finally, Banque Cantonale Vaudoise bought a new position in Packaging Corporation of America during the 1st quarter worth $40,000. 89.78% of the stock is owned by institutional investors.

Packaging Corporation of America Price Performance

Shares of PKG traded down $0.22 during trading hours on Tuesday, reaching $211.59. The stock had a trading volume of 636,154 shares, compared to its average volume of 842,555. 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 12 month low of $172.71 and a 12 month high of $250.82. The stock has a market capitalization of $19.04 billion, a PE ratio of 21.12, a PEG ratio of 1.85 and a beta of 0.87. The company's 50-day moving average is $205.31 and its two-hundred day moving average is $196.62.

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

Packaging Corporation of America Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Monday, September 15th will be given a dividend of $1.25 per share. The ex-dividend date is Monday, September 15th. This represents a $5.00 annualized dividend and a yield of 2.4%. Packaging Corporation of America's dividend payout ratio (DPR) is currently 49.90%.

Insiders Place Their Bets

In other Packaging Corporation of America news, CEO Mark W. Kowlzan sold 25,000 shares of the company's stock in a transaction that occurred on Thursday, September 11th. The shares were sold at an average price of $215.97, for a total value of $5,399,250.00. Following the completion of the transaction, the chief executive officer directly owned 437,378 shares in the company, valued at approximately $94,460,526.66. This represents a 5.41% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.50% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. Jefferies Financial Group downgraded Packaging Corporation of America from a "buy" rating to a "hold" rating and cut their target price for the company from $245.00 to $205.00 in a research report on Monday, June 16th. UBS Group upped their price objective on shares of Packaging Corporation of America from $210.00 to $220.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 29th. Truist Financial decreased their target price on shares of Packaging Corporation of America from $239.00 to $238.00 and set a "buy" rating on the stock in a report on Friday, July 25th. Wells Fargo & Company upped their price target on shares of Packaging Corporation of America from $180.00 to $200.00 and gave the stock an "equal weight" rating in a report on Thursday, July 10th. Finally, Citigroup boosted their price objective on shares of Packaging Corporation of America from $197.00 to $214.00 and gave the company a "neutral" rating in a research report on Friday, July 25th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $215.40.

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.