Daiichi Life Insurance Co. Ltd. Acquires New Position in Packaging Corporation of America $PKG

Key Points

• Daiichi Life Insurance acquired 14,380 shares of Packaging Corporation of America worth approximately $3.43 million, while institutional investors overall own 89.78% of the company.
• Packaging Corporation of America reported quarterly EPS of $2.35, beating estimates by $0.04, while revenue rose 14.7% year over year to $2.49 billion. The stock opened at $253.03, near its 12-month high of $259.98.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $264.57, although company insiders sold approximately $9.2 million in stock over the past 90 days.

Daiichi Life Insurance Co. Ltd. purchased a new position in Packaging Corporation of America (NYSE:PKG - Free Report) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm purchased 14,380 shares of the industrial products company's stock, valued at approximately $3,426,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. DV Equities LLC acquired a new position in shares of Packaging Corporation of America in the 4th quarter valued at $26,000. Covestor Ltd raised its position 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 buying an additional 91 shares during the last quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA raised its holdings in shares of Packaging Corporation of America by 94.1% in the fourth quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 165 shares of the industrial products company's stock valued at $34,000 after purchasing an additional 80 shares during the last quarter. Keating Financial Advisory Services Inc. bought a new stake in Packaging Corporation of America during the 2nd quarter worth about $41,000. Finally, Navalign LLC bought a new stake in Packaging Corporation of America during the fourth quarter worth about $36,000. Institutional investors own 89.78% of the company's stock.

Packaging Corporation of America Stock Up 0.1%

Shares of NYSE:PKG opened at $253.03 on Monday. The business has a fifty day simple moving average of $241.04 and a 200 day simple moving average of $227.56. The company has a quick ratio of 1.86, a current ratio of 2.94 and a debt-to-equity ratio of 0.85. The firm has a market cap of $22.54 billion, a P/E ratio of 32.86, a P/E/G ratio of 2.39 and a beta of 0.80. Packaging Corporation of America has a 12-month low of $191.50 and a 12-month high of $259.98.

Packaging Corporation of America (NYSE:PKG - Get Free Report) last announced its earnings results on Wednesday, July 22nd. The industrial products company reported $2.35 EPS for the quarter, beating the consensus estimate of $2.31 by $0.04. The business 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 firm's revenue was up 14.7% on a year-over-year basis. During the same period in the prior year, the business posted $2.48 earnings per share. Packaging Corporation of America has set its Q3 2026 guidance at 2.910-2.910 EPS. Analysts predict that Packaging Corporation of America will post 10.48 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. JPMorgan Chase & Co. upped their price target on shares of 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 upped their price objective on Packaging Corporation of America from $241.00 to $254.00 and gave the company a "neutral" rating in a report on Tuesday, July 28th. Deutsche Bank Aktiengesellschaft raised shares of Packaging Corporation of America from a "hold" rating to a "buy" rating and raised their target price for the stock from $225.00 to $256.00 in a report on Monday, May 4th. Wells Fargo & Company reaffirmed an "equal weight" rating and issued a $246.00 price target (up from $245.00) on shares of Packaging Corporation of America in a research note on Thursday, July 9th. Finally, Weiss Ratings downgraded shares of Packaging Corporation of America from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Tuesday, August 11th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $264.57.

Insider Activity

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 shares were sold at an average price of $217.08, for a total value of $2,011,463.28. Following the completion of the sale, the chief executive officer directly owned 473,610 shares of the company's stock, valued at approximately $102,811,258.80. The trade was a 1.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, President Thomas A. Hassfurther sold 7,063 shares of the business's stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $254.00, for a total value of $1,794,002.00. Following the completion of the sale, the president directly owned 202,891 shares of the company's stock, valued at $51,534,314. The trade was a 3.36% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 37,657 shares of company stock worth $9,199,044. 1.60% of the stock is owned by corporate insiders.

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.

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source