California State Teachers Retirement System Acquires 24,583,753 Shares of Packaging Corporation of America $PKG

California State Teachers Retirement System grew its holdings in Packaging Corporation of America (NYSE:PKG - Free Report) by 23,647.1% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 24,687,714 shares of the industrial products company's stock after purchasing an additional 24,583,753 shares during the quarter. California State Teachers Retirement System owned about 27.71% of Packaging Corporation of America worth $5,882,588,000 as of its most recent filing with the SEC.

Other large investors also recently made changes to their positions in the company. DV Equities LLC bought a new position in shares of Packaging Corporation of America in the fourth quarter valued at about $26,000. Covestor Ltd grew its holdings in Packaging Corporation of America by 140.0% during the 4th quarter. Covestor Ltd now owns 156 shares of the industrial products company's stock worth $32,000 after acquiring an additional 91 shares during the last quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA grew its holdings in Packaging Corporation of America by 94.1% during the 4th quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 165 shares of the industrial products company's stock worth $34,000 after acquiring an additional 80 shares during the last quarter. Navalign LLC acquired a new stake in Packaging Corporation of America in the 4th quarter valued at about $36,000. Finally, Fiduciary Financial Advisors acquired a new stake in Packaging Corporation of America in the 2nd quarter valued at about $36,000. Institutional investors own 89.78% of the company's stock.

Insider Activity at Packaging Corporation of America

In related news, President Thomas Hassfurther sold 12,531 shares of Packaging Corporation of America 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 owned 218,751 shares of the company's stock, valued at $54,687,750. This trade represents a 5.42% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Donald Shirley sold 12,000 shares of the business's stock in a transaction that occurred on Thursday, August 20th. The shares were sold at an average price of $250.71, for a total transaction of $3,008,520.00. Following the transaction, the vice president owned 19,110 shares of the company's stock, valued at approximately $4,791,068.10. This represents a 38.57% decrease in their position. The SEC filing for this sale provides additional information. Insiders have 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 insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Wells Fargo & Company reaffirmed an "equal weight" rating and issued a $246.00 target price (up from $245.00) on shares of Packaging Corporation of America in a research note on Thursday, July 9th. Bank of America increased their price target on shares of Packaging Corporation of America from $242.00 to $263.00 and gave the company a "buy" rating in a research note on Tuesday, July 14th. Weiss Ratings raised shares of Packaging Corporation of America from a "hold (c+)" rating to a "buy (b-)" rating in a report on Tuesday, August 25th. Truist Financial boosted their price objective on shares of Packaging Corporation of America from $258.00 to $270.00 and gave the stock a "buy" rating in a research report on Wednesday, July 15th. Finally, Citigroup upped their price objective on Packaging Corporation of America from $241.00 to $254.00 and gave the stock a "neutral" rating in a report on Tuesday, July 28th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $264.57.

Packaging Corporation of America Trading Down 1.9%

NYSE PKG opened at $227.59 on Thursday. Packaging Corporation of America has a 12 month low of $191.50 and a 12 month high of $259.98. The stock has a 50-day simple moving average of $241.92 and a 200 day simple moving average of $227.46. The company has a current ratio of 2.94, a quick ratio of 1.86 and a debt-to-equity ratio of 0.85. The company has a market capitalization of $20.28 billion, a PE ratio of 29.56, a P/E/G ratio of 2.36 and a beta of 0.78.

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

Packaging Corporation of America Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Tuesday, September 15th will be given a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date is Tuesday, September 15th. Packaging Corporation of America's dividend payout ratio (DPR) is currently 77.92%.

Packaging Corporation of America Profile

Packaging Corporation of America NYSE: PKG manufactures and sells containerboard and corrugated packaging products. Its offerings include shipping boxes, retail displays, protective packaging and other custom-designed packaging solutions used by businesses in a range of industries.

The company also produces uncoated paper products, including communication papers, office papers and specialty papers. PCA serves customers primarily across the United States and operates a network of paper mills, corrugated products plants, design centers and related facilities.

Packaging Corporation of America was established in 1999 following the acquisition of Tenneco Packaging by an investor group and its subsequent separation from Tenneco Inc Mark W.

Want to see what other hedge funds are holding PKG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Packaging Corporation of America (NYSE:PKG - Free Report).

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.