Bank of America Corp DE Buys 39,118 Shares of Packaging Corporation of America $PKG

Key Points

• Bank of America increased its Packaging Corporation of America stake by 2.6%, buying 39,118 shares to own 1.52 million shares valued at approximately $322.2 million. Institutional investors hold nearly 89.8% of the company.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $261.57. PKG recently traded at $246.48 after reporting quarterly EPS of $2.35, above estimates, while revenue rose 14.7% year over year.
• Packaging Corporation of America raised its quarterly dividend from $1.25 to $1.50 per share, equivalent to an annualized $6.00 dividend and a 2.4% yield.

Bank of America Corp DE grew its stake in shares of Packaging Corporation of America (NYSE:PKG - Free Report) by 2.6% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 1,518,100 shares of the industrial products company's stock after buying an additional 39,118 shares during the period. Bank of America Corp DE owned approximately 1.70% of Packaging Corporation of America worth $322,171,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. DV Equities LLC acquired a new stake in Packaging Corporation of America during the fourth quarter worth about $26,000. Covestor Ltd raised its holdings in Packaging Corporation of America by 140.0% in the 4th quarter. Covestor Ltd now owns 156 shares of the industrial products company's stock valued at $32,000 after acquiring an additional 91 shares in the last quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA raised its holdings in 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 valued at $34,000 after acquiring an additional 80 shares in the last quarter. Navalign LLC bought a new stake in shares of Packaging Corporation of America in the 4th quarter worth approximately $36,000. Finally, Oslo Pensjonsforsikring AS bought a new stake in shares of Packaging Corporation of America in the 1st quarter worth approximately $41,000. Institutional investors own 89.78% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on PKG shares. Deutsche Bank Aktiengesellschaft raised Packaging Corporation of America from a "hold" rating to a "buy" rating and lifted their price objective for the stock from $225.00 to $256.00 in a report on Monday, May 4th. JPMorgan Chase & Co. raised their target price on Packaging Corporation of America from $269.00 to $271.00 and gave the stock an "overweight" rating in a research report on Friday, July 24th. Citigroup lifted 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 research note on Tuesday, July 28th. Bank of America lifted 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. Finally, Weiss Ratings lowered shares of Packaging Corporation of America from a "buy (b)" rating to a "buy (b-)" rating in a report on Tuesday, May 26th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $261.57.

Packaging Corporation of America Stock Up 0.3%

NYSE PKG opened at $246.48 on Monday. The company has a current ratio of 3.07, a quick ratio of 1.88 and a debt-to-equity ratio of 0.87. The stock's 50 day moving average is $231.30 and its two-hundred day moving average is $224.06. The company has a market capitalization of $21.96 billion, a price-to-earnings ratio of 32.01, a PEG ratio of 2.32 and a beta of 0.80. Packaging Corporation of America has a 1-year low of $189.03 and a 1-year high of $258.81.

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 for the quarter, beating the consensus estimate of $2.31 by $0.04. Packaging Corporation of America had a return on equity of 18.96% and a net margin of 7.25%.The company had revenue of $2.49 billion for the quarter, compared to analyst estimates of $2.49 billion. During the same period in the prior year, the company posted $2.48 EPS. The company's 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. Equities analysts forecast that Packaging Corporation of America will post 10.48 earnings per share for the current fiscal year.

Packaging Corporation of America Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Monday, June 15th were given a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a yield of 2.4%. This is a positive change from Packaging Corporation of America's previous quarterly dividend of $1.25. The ex-dividend date was Monday, June 15th. Packaging Corporation of America's dividend payout ratio (DPR) is currently 77.92%.

Insider Transactions at Packaging Corporation of America

In other Packaging Corporation of America news, CEO Mark W. Kowlzan sold 9,266 shares of Packaging Corporation of America stock in a transaction on 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 of the company's stock, valued at approximately $102,811,258.80. This trade represents a 1.92% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 1.60% of the stock is owned by corporate insiders.

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.

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