CIBC Asset Management Inc Acquires 8,389 Shares of Packaging Corporation of America $PKG

Key Points

• CIBC Asset Management boosted its stake in Packaging Corporation of America by 56.7% in the fourth quarter, buying 8,389 additional shares and bringing its total holdings to 23,193 shares worth about $4.78 million.
• Wall Street sentiment remains broadly positive, with a consensus Moderate Buy rating and an average price target of $236.57, though some analysts have trimmed targets while others maintained bullish views.
• Packaging Corporation of America recently raised its quarterly dividend to $1.50 per share from $1.25 and also reported better-than-expected Q1 earnings of $2.40 per share, despite revenue coming in slightly below estimates.

CIBC Asset Management Inc increased its holdings in shares of Packaging Corporation of America (NYSE:PKG - Free Report) by 56.7% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 23,193 shares of the industrial products company's stock after buying an additional 8,389 shares during the quarter. CIBC Asset Management Inc's holdings in Packaging Corporation of America were worth $4,783,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Marble Wealth LLC bought a new stake in shares of Packaging Corporation of America during the 4th quarter worth $417,000. Bank of New York Mellon Corp lifted its position in shares of Packaging Corporation of America by 16.3% during the 4th quarter. Bank of New York Mellon Corp now owns 2,166,789 shares of the industrial products company's stock worth $446,857,000 after buying an additional 303,430 shares during the last quarter. Camden National Bank lifted its position in shares of Packaging Corporation of America by 0.4% during the 4th quarter. Camden National Bank now owns 33,744 shares of the industrial products company's stock worth $6,959,000 after buying an additional 127 shares during the last quarter. New Mexico Educational Retirement Board lifted its position in shares of Packaging Corporation of America by 2.5% during the 4th quarter. New Mexico Educational Retirement Board now owns 4,100 shares of the industrial products company's stock worth $846,000 after buying an additional 100 shares during the last quarter. Finally, Waterloo Capital L.P. lifted its position in shares of Packaging Corporation of America by 2.5% during the 4th quarter. Waterloo Capital L.P. now owns 6,063 shares of the industrial products company's stock worth $1,250,000 after buying an additional 149 shares during the last quarter. 89.78% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have commented on PKG shares. JPMorgan Chase & Co. increased their target price on Packaging Corporation of America from $225.00 to $246.00 and gave the company an "overweight" rating in a research report on Friday, April 24th. Citigroup dropped their target price on Packaging Corporation of America from $227.00 to $217.00 and set a "neutral" rating for the company in a research report on Tuesday, April 14th. Truist Financial reiterated a "buy" rating and issued a $258.00 target price (down from $260.00) on shares of Packaging Corporation of America in a research report on Monday, April 27th. Weiss Ratings downgraded Packaging Corporation of America from a "buy (b)" rating to a "buy (b-)" rating in a research report on Tuesday, May 26th. Finally, Argus upgraded Packaging Corporation of America to a "strong-buy" rating in a research report on Thursday, February 26th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $236.57.

Insider Buying and Selling at Packaging Corporation of America

In related 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 sale, the chief executive officer directly owned 473,610 shares in the company, 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 SEC, which can be accessed through this link. 1.60% of the stock is owned by corporate insiders.

Packaging Corporation of America Stock Down 0.8%

Shares of NYSE:PKG opened at $222.99 on Friday. The business's 50 day simple moving average is $214.54 and its two-hundred day simple moving average is $215.48. The firm has a market cap of $19.87 billion, a P/E ratio of 27.13, a PEG ratio of 2.01 and a beta of 0.81. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.88 and a current ratio of 3.07. Packaging Corporation of America has a 52-week low of $184.76 and a 52-week high of $249.51.

Packaging Corporation of America (NYSE:PKG - Get Free Report) last announced its quarterly earnings results on Wednesday, April 22nd. The industrial products company reported $2.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.17 by $0.23. Packaging Corporation of America had a return on equity of 19.27% and a net margin of 8.04%.The business had revenue of $2.37 billion for the quarter, compared to analyst estimates of $2.45 billion. During the same quarter in the prior year, the company earned $2.31 earnings per share. The company's quarterly revenue was up 10.6% on a year-over-year basis. Packaging Corporation of America has set its Q2 2026 guidance at 2.330-2.330 EPS. As a group, research analysts forecast that Packaging Corporation of America will post 10.8 EPS for the current fiscal year.

Packaging Corporation of America Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Monday, June 15th will be issued a $1.50 dividend. This is a boost from Packaging Corporation of America's previous quarterly dividend of $1.25. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date is Monday, June 15th. Packaging Corporation of America's dividend payout ratio is 60.83%.

Packaging Corporation of America Company 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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