Concurrent Investment Advisors LLC Sells 18,539 Shares of Packaging Corporation of America $PKG

Key Points

• Concurrent Investment Advisors cut its Packaging Corporation of America position by 79.2%, selling 18,539 shares and retaining 4,855 shares valued at approximately $1.16 million.
• Institutional investors own 89.78% of PKG, while company insiders sold 40,391 shares worth $10.2 million during the latest quarter.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $264.57. PCA also reported quarterly EPS of $2.35, exceeding estimates, and declared a quarterly dividend of $1.50 per share.

Concurrent Investment Advisors LLC trimmed its position in shares of Packaging Corporation of America (NYSE:PKG - Free Report) by 79.2% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,855 shares of the industrial products company's stock after selling 18,539 shares during the period. Concurrent Investment Advisors LLC's holdings in Packaging Corporation of America were worth $1,157,000 at the end of the most recent quarter.

A number of 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 approximately $1,837,506,000. State Street Corp boosted its holdings in shares of Packaging Corporation of America by 1.3% in the 4th quarter. State Street Corp now owns 4,185,761 shares of the industrial products company's stock valued at $868,349,000 after purchasing an additional 54,884 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Packaging Corporation of America by 2.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,478,505 shares of the industrial products company's stock valued at $717,372,000 after purchasing an additional 83,978 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of Packaging Corporation of America by 7.5% in the 4th quarter. JPMorgan Chase & Co. now owns 3,316,670 shares of the industrial products company's stock valued at $683,997,000 after purchasing an additional 231,474 shares during the last quarter. Finally, Bank of New York Mellon Corp acquired a new position in shares of Packaging Corporation of America during the 2nd quarter worth $748,095,000. 89.78% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Packaging Corporation of America

In related news, VP Donald Shirley sold 12,000 shares of the company's stock in a transaction that occurred on Thursday, August 20th. The stock was sold at an average price of $250.71, for a total value of $3,008,520.00. Following the sale, the vice president directly owned 19,110 shares in the company, valued at $4,791,068.10. This represents a 38.57% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, President Thomas Hassfurther sold 7,063 shares of the stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $254.00, for a total transaction of $1,794,002.00. Following the sale, the president directly owned 202,891 shares of the company's stock, valued at $51,534,314. This represents a 3.36% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 40,391 shares of company stock worth $10,196,101 over the last quarter. 1.60% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several brokerages recently weighed in on PKG. Truist Financial upped their price objective on 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. Weiss Ratings upgraded Packaging Corporation of America from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Tuesday, August 25th. JPMorgan Chase & Co. boosted their target price on 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. UBS Group increased their target price on shares of Packaging Corporation of America from $271.00 to $292.00 and gave the stock a "buy" rating in a report on Thursday, August 13th. Finally, Citigroup raised their price target on shares of Packaging Corporation of America from $241.00 to $254.00 and gave the company a "neutral" rating in a research note on Tuesday, July 28th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $264.57.

Packaging Corporation of America Trading Up 2.5%

PKG opened at $232.92 on Friday. The company has a debt-to-equity ratio of 0.85, a current ratio of 2.94 and a quick ratio of 1.86. Packaging Corporation of America has a fifty-two week low of $191.50 and a fifty-two week high of $259.98. The company's 50 day moving average price is $241.82 and its two-hundred day moving average price is $227.43. The firm has a market capitalization of $20.75 billion, a price-to-earnings ratio of 30.25, a PEG ratio of 2.31 and a beta of 0.78.

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

Packaging Corporation of America Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Tuesday, September 15th will be paid 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 of this dividend is Tuesday, September 15th. Packaging Corporation of America's payout ratio is currently 77.92%.

About Packaging Corporation of America

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.

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