Manning & Napier Advisors LLC bought a new stake in shares of Packaging Corporation of America (NYSE:PKG - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 12,219 shares of the industrial products company's stock, valued at approximately $2,912,000.
A number of other institutional investors and hedge funds have also recently bought and sold shares of PKG. DV Equities LLC purchased a new position in Packaging Corporation of America in the fourth quarter worth approximately $26,000. Covestor Ltd lifted its position in Packaging Corporation of America by 140.0% in the fourth 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 boosted its stake in Packaging Corporation of America by 94.1% during the fourth quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 165 shares of the industrial products company's stock worth $34,000 after buying an additional 80 shares during the period. Keating Financial Advisory Services Inc. purchased a new position in Packaging Corporation of America during the second quarter worth about $41,000. Finally, Navalign LLC acquired a new stake in Packaging Corporation of America in the 4th quarter valued at approximately $36,000. 89.78% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of research analysts recently weighed in on the stock. Bank of America lifted their price objective on shares of Packaging Corporation of America from $242.00 to $263.00 and gave the company a "buy" rating in a report on Tuesday, July 14th. Citigroup boosted their target price on Packaging Corporation of America from $241.00 to $254.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 28th. 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 report on Thursday, July 9th. Deutsche Bank Aktiengesellschaft raised shares of Packaging Corporation of America from a "hold" rating to a "buy" rating and increased their target price for the company from $225.00 to $256.00 in a research report on Monday, May 4th. Finally, JPMorgan Chase & Co. raised their price target 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. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $264.57.
Check Out Our Latest Report on PKG
Packaging Corporation of America Stock Performance
NYSE:PKG opened at $246.60 on Wednesday. Packaging Corporation of America has a fifty-two week low of $191.50 and a fifty-two week high of $259.98. 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 stock has a market cap of $21.97 billion, a PE ratio of 32.03, a price-to-earnings-growth ratio of 2.35 and a beta of 0.80. The firm's fifty day simple moving average is $241.76 and its 200-day simple moving average is $227.83.
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, topping the consensus estimate of $2.31 by $0.04. Packaging Corporation of America had a return on equity of 18.94% and a net margin of 7.25%.The business had revenue of $2.49 billion during the quarter, compared to the consensus estimate of $2.49 billion. During the same quarter in the previous year, the company posted $2.48 EPS. The business's revenue was up 14.7% on a year-over-year basis. Packaging Corporation of America has set its Q3 2026 guidance at 2.910-2.910 EPS. Analysts expect that Packaging Corporation of America will post 10.48 earnings per share for the current fiscal year.
Insider Transactions at Packaging Corporation of America
In related news, VP Donald R. Shirley sold 12,000 shares of the stock in a transaction 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 transaction, the vice president directly owned 19,110 shares of the company's stock, valued at approximately $4,791,068.10. This trade represents a 38.57% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, President Thomas A. Hassfurther sold 7,063 shares of the firm's 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 completion of the transaction, the president owned 202,891 shares in the company, valued at $51,534,314. The trade was a 3.36% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 40,391 shares of company stock worth $10,196,101. 1.60% of the stock is owned by corporate insiders.
About Packaging Corporation of America
(
Free Report)
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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