Ancora Advisors LLC Invests $1 Million in Packaging Corporation of America $PKG

Key Points

• Ancora Advisors initiated a $1.0 million stake in Packaging Corporation of America during the second quarter, while institutional investors collectively own 89.78% of the company.
• Packaging Corporation of America beat quarterly earnings expectations with EPS of $2.35 versus the $2.31 consensus, while revenue rose 14.7% year over year to $2.49 billion.
• Analysts maintain a “Moderate Buy” consensus, with an average price target of $264.57; however, company insiders sold $10.2 million of stock over the past three months.

Ancora Advisors LLC bought a new stake in Packaging Corporation of America (NYSE:PKG - Free Report) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 4,200 shares of the industrial products company's stock, valued at approximately $1,001,000.

Other large investors have also recently bought and sold shares of the company. BlackRock Inc. acquired a new position in Packaging Corporation of America during the second quarter valued at $1,837,506,000. Bank of New York Mellon Corp acquired a new position in shares of Packaging Corporation of America in the 2nd quarter valued at about $748,095,000. Atlas FRM LLC purchased a new stake in shares of Packaging Corporation of America in the second quarter worth about $365,164,100,000. Norges Bank purchased a new stake in shares of Packaging Corporation of America in the fourth quarter worth about $237,649,000. Finally, Diamant Asset Management Inc. grew its holdings in Packaging Corporation of America by 19,710.3% during the first quarter. Diamant Asset Management Inc. now owns 893,446 shares of the industrial products company's stock worth $189,607,000 after acquiring an additional 888,936 shares during the period. Hedge funds and other institutional investors own 89.78% of the company's stock.

Insiders Place Their Bets

In related news, VP Donald R. Shirley sold 12,000 shares of the business's stock in a transaction on Thursday, August 20th. The shares were sold at an average price of $250.71, for a total value of $3,008,520.00. Following the completion of the sale, the vice president owned 19,110 shares of the company's stock, valued at approximately $4,791,068.10. The trade was a 38.57% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 transaction of $1,794,002.00. Following the transaction, the president owned 202,891 shares of the company's stock, valued at $51,534,314. This represents a 3.36% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 40,391 shares of company stock worth $10,196,101 in the last three months. 1.60% of the stock is owned by corporate insiders.

Packaging Corporation of America Stock Performance

NYSE PKG opened at $243.47 on Friday. The stock has a market capitalization of $21.69 billion, a price-to-earnings ratio of 31.62, a PEG ratio of 2.33 and a beta of 0.80. The stock has a 50-day moving average of $242.39 and a 200 day moving average of $227.97. 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.

Packaging Corporation of America (NYSE:PKG - Get Free Report) last issued its quarterly earnings data on Wednesday, July 22nd. The industrial products company reported $2.35 EPS for the quarter, beating the consensus estimate of $2.31 by $0.04. The company had revenue of $2.49 billion for the quarter, compared to analyst estimates of $2.49 billion. Packaging Corporation of America had a return on equity of 18.94% and a net margin of 7.25%.Packaging Corporation of America's quarterly revenue was up 14.7% compared to the same quarter last year. During the same period last year, the company earned $2.48 earnings per share. Packaging Corporation of America has set its Q3 2026 guidance at 2.910-2.910 EPS. Sell-side analysts anticipate that Packaging Corporation of America will post 10.48 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. Deutsche Bank Aktiengesellschaft upgraded Packaging Corporation of America from a "hold" rating to a "buy" rating and lifted their price target for the company from $225.00 to $256.00 in a research report on Monday, May 4th. JPMorgan Chase & Co. raised their price objective on shares of Packaging Corporation of America from $269.00 to $271.00 and gave the stock an "overweight" rating in a research note on Friday, July 24th. Bank of America lifted 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. UBS Group boosted 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 note on Thursday, August 13th. Finally, Truist Financial increased 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 report on Wednesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $264.57.

Packaging Corporation of America Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source