Fifth Third Bancorp Has $23.20 Million Stake in Packaging Corporation of America $PKG

Fifth Third Bancorp boosted its holdings in Packaging Corporation of America (NYSE:PKG - Free Report) by 44.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 109,320 shares of the industrial products company's stock after buying an additional 33,419 shares during the period. Fifth Third Bancorp owned approximately 0.12% of Packaging Corporation of America worth $23,200,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. DV Equities LLC bought a new position in Packaging Corporation of America during the fourth quarter worth about $26,000. KERR FINANCIAL PLANNING Corp bought a new stake in shares of Packaging Corporation of America in the third quarter worth about $31,000. Covestor Ltd increased its holdings in shares of Packaging Corporation of America by 140.0% in the fourth quarter. Covestor Ltd now owns 156 shares of the industrial products company's stock worth $32,000 after acquiring an additional 91 shares in the last quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA increased 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 worth $34,000 after acquiring an additional 80 shares in the last quarter. Finally, Navalign LLC acquired a new stake in shares of Packaging Corporation of America during the fourth quarter worth about $36,000. 89.78% of the stock is owned by institutional investors.

Insider Activity at Packaging Corporation of America

In related news, CEO Mark W. Kowlzan sold 9,266 shares of the stock in a transaction that occurred 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 owned 473,610 shares of the company's stock, valued at $102,811,258.80. This represents a 1.92% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 1.60% of the company's stock.

Packaging Corporation of America Stock Down 1.2%

NYSE:PKG opened at $225.95 on Tuesday. Packaging Corporation of America has a twelve month low of $189.03 and a twelve month high of $249.51. The firm has a market capitalization of $20.13 billion, a price-to-earnings ratio of 27.49, a price-to-earnings-growth ratio of 2.14 and a beta of 0.80. The company has a quick ratio of 1.88, a current ratio of 3.07 and a debt-to-equity ratio of 0.87. The stock's 50 day moving average price is $225.40 and its two-hundred day moving average price is $221.26.

Packaging Corporation of America (NYSE:PKG - Get Free Report) last announced its quarterly earnings data on Wednesday, April 22nd. The industrial products company reported $2.40 EPS for the quarter, beating analysts' consensus estimates of $2.17 by $0.23. Packaging Corporation of America had a net margin of 8.04% and a return on equity of 19.27%. The company had revenue of $2.37 billion during the quarter, compared to the consensus estimate of $2.45 billion. During the same quarter last year, the firm posted $2.31 EPS. 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. Equities research analysts expect that Packaging Corporation of America will post 10.45 earnings per share for the current fiscal year.

Packaging Corporation of America Increases Dividend

The firm 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 dividend of $1.50 per share. This is a boost from Packaging Corporation of America's previous quarterly dividend of $1.25. This represents a $6.00 annualized dividend and a dividend yield of 2.7%. The ex-dividend date of this dividend is Monday, June 15th. Packaging Corporation of America's payout ratio is 72.99%.

Analysts Set New Price Targets

Several research firms have recently weighed in on PKG. JPMorgan Chase & Co. lifted their price objective on Packaging Corporation of America from $246.00 to $269.00 and gave the company an "overweight" rating in a report on Thursday, July 9th. UBS Group raised Packaging Corporation of America from a "neutral" rating to a "buy" rating and increased their target price for the stock from $232.00 to $248.00 in a research note on Wednesday, May 20th. Truist Financial restated a "buy" rating and set a $258.00 target price (down from $260.00) on shares of Packaging Corporation of America in a report on Monday, April 27th. Weiss Ratings lowered shares of Packaging Corporation of America from a "buy (b)" rating to a "buy (b-)" rating in a research note on Tuesday, May 26th. Finally, Wells Fargo & Company reiterated an "equal weight" rating and issued a $246.00 price target (up from $245.00) on shares of Packaging Corporation of America in a report on Thursday, July 9th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $253.00.

Packaging Corporation of America 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.

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.