Conning Inc. Increases Position in Packaging Corporation of America $PKG

Key Points

• Conning Inc. increased its stake in Packaging Corporation of America by 3.7% in the fourth quarter, bringing its holdings to 156,769 shares valued at about $32.3 million.
• Packaging Corporation of America reported better-than-expected quarterly earnings of $2.40 per share, topping estimates, while revenue rose 10.6% year over year to $2.37 billion.
• The company also announced a higher quarterly dividend of $1.50 per share, up from $1.25, implying an annualized dividend of $6.00 and a yield of about 2.7%.

Conning Inc. boosted its position in Packaging Corporation of America (NYSE:PKG - Free Report) by 3.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 156,769 shares of the industrial products company's stock after acquiring an additional 5,524 shares during the quarter. Conning Inc. owned 0.17% of Packaging Corporation of America worth $32,330,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the company. Benchmark Financial Wealth Advisors LLC boosted its holdings in shares of Packaging Corporation of America by 2.1% in the 4th quarter. Benchmark Financial Wealth Advisors LLC now owns 2,345 shares of the industrial products company's stock worth $484,000 after purchasing an additional 48 shares in the last quarter. River Street Advisors LLC raised its holdings in shares of Packaging Corporation of America by 1.0% during the 4th quarter. River Street Advisors LLC now owns 5,362 shares of the industrial products company's stock valued at $1,106,000 after buying an additional 51 shares in the last quarter. Argent Advisors Inc. lifted its position in Packaging Corporation of America by 1.9% in the 3rd quarter. Argent Advisors Inc. now owns 2,852 shares of the industrial products company's stock worth $622,000 after buying an additional 52 shares during the last quarter. Eastern Bank boosted its stake in Packaging Corporation of America by 11.0% in the third quarter. Eastern Bank now owns 555 shares of the industrial products company's stock worth $121,000 after buying an additional 55 shares in the last quarter. Finally, Cary Street Partners Investment Advisory LLC grew its position in Packaging Corporation of America by 40.7% during the third quarter. Cary Street Partners Investment Advisory LLC now owns 197 shares of the industrial products company's stock valued at $43,000 after acquiring an additional 57 shares during the last quarter. Hedge funds and other institutional investors own 89.78% of the company's stock.

Packaging Corporation of America Price Performance

Shares of Packaging Corporation of America stock opened at $220.21 on Friday. The company's fifty day simple moving average is $214.23 and its two-hundred day simple moving average is $213.58. Packaging Corporation of America has a 12-month low of $184.76 and a 12-month high of $249.51. The firm has a market cap of $19.62 billion, a PE ratio of 26.79, a price-to-earnings-growth ratio of 1.97 and a beta of 0.81. The company has a quick ratio of 1.94, a current ratio of 3.07 and a debt-to-equity ratio of 0.87.

Packaging Corporation of America (NYSE:PKG - Get Free Report) last issued its quarterly earnings data on Wednesday, April 22nd. The industrial products company reported $2.40 EPS for the quarter, beating the consensus estimate of $2.17 by $0.23. The firm had revenue of $2.37 billion during the quarter, compared to the consensus estimate of $2.45 billion. Packaging Corporation of America had a net margin of 8.04% and a return on equity of 19.27%. The company's quarterly revenue was up 10.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.31 earnings per share. Packaging Corporation of America has set its Q2 2026 guidance at 2.330-2.330 EPS. As a group, equities analysts expect that Packaging Corporation of America will post 10.81 EPS for the current year.

Packaging Corporation of America Increases Dividend

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

Analyst Ratings Changes

PKG has been the subject of a number of research reports. Truist Financial reaffirmed a "buy" rating and issued a $258.00 price objective (down from $260.00) on shares of Packaging Corporation of America in a research note on Monday, April 27th. Deutsche Bank Aktiengesellschaft raised shares of Packaging Corporation of America from a "hold" rating to a "buy" rating and boosted their price target for the stock from $225.00 to $256.00 in a research note on Monday, May 4th. Argus raised Packaging Corporation of America to a "strong-buy" rating in a research note on Thursday, February 26th. Weiss Ratings raised Packaging Corporation of America from a "hold (c+)" rating to a "buy (b)" rating in a research note on Monday. Finally, Citigroup reduced their price target on Packaging Corporation of America from $227.00 to $217.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 14th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $234.29.

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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