Packaging Corporation of America $PKG Shares Purchased by PNC Financial Services Group Inc.

Key Points

• PNC Financial Services Group increased its stake in Packaging Corporation of America by 7.8% in Q1, buying an additional 5,355 shares and bringing its holdings to 73,669 shares worth about $15.6 million.
• Packaging Corporation of America posted better-than-expected quarterly results, with EPS of $2.35 beating estimates and revenue of $2.49 billion matching forecasts; revenue also rose 14.7% year over year.
• The company raised its quarterly dividend to $1.50 per share from $1.25, annualizing to $6.00 per share for a 2.4% yield, while analysts currently rate the stock a Moderate Buy with an average price target of $256.43.

PNC Financial Services Group Inc. increased its stake in shares of Packaging Corporation of America (NYSE:PKG - Free Report) by 7.8% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 73,669 shares of the industrial products company's stock after purchasing an additional 5,355 shares during the period. PNC Financial Services Group Inc. owned approximately 0.08% of Packaging Corporation of America worth $15,634,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. DV Equities LLC purchased a new stake in Packaging Corporation of America in the fourth quarter valued at approximately $26,000. Covestor Ltd lifted its stake in Packaging Corporation of America by 140.0% during the fourth quarter. Covestor Ltd now owns 156 shares of the industrial products company's stock worth $32,000 after purchasing an additional 91 shares in the last quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA lifted 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 purchasing an additional 80 shares in the last quarter. Navalign LLC purchased a new position in shares of Packaging Corporation of America during the fourth quarter worth $36,000. Finally, Geneos Wealth Management Inc. boosted its position in shares of Packaging Corporation of America by 40.4% during the first quarter. Geneos Wealth Management Inc. now owns 198 shares of the industrial products company's stock worth $39,000 after buying an additional 57 shares during the period. Institutional investors and hedge funds own 89.78% of the company's stock.

Insider Buying and Selling

In other Packaging Corporation of America news, CEO Mark W. Kowlzan sold 9,266 shares of the company's stock in a transaction dated 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 in the company, valued at $102,811,258.80. This represents a 1.92% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.60% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

PKG has been the subject of a number of research reports. Citigroup lifted their price objective on Packaging Corporation of America from $229.00 to $241.00 and gave the company a "neutral" rating in a research note on Thursday, July 9th. Weiss Ratings lowered Packaging Corporation of America from a "buy (b)" rating to a "buy (b-)" rating in a research note on Tuesday, May 26th. Deutsche Bank Aktiengesellschaft upgraded Packaging Corporation of America from a "hold" rating to a "buy" rating and raised their target price for the company from $225.00 to $256.00 in a report on Monday, May 4th. JPMorgan Chase & Co. lifted their target price on Packaging Corporation of America from $269.00 to $271.00 and gave the company an "overweight" rating in a research report on Friday. Finally, Truist Financial boosted their price target on shares of Packaging Corporation of America from $258.00 to $270.00 and gave the stock a "buy" rating in a research note on Wednesday, July 15th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $256.43.

Packaging Corporation of America Stock Performance

Shares of PKG stock opened at $253.48 on Friday. The company has a quick ratio of 1.88, a current ratio of 3.07 and a debt-to-equity ratio of 0.87. Packaging Corporation of America has a 52 week low of $189.03 and a 52 week high of $254.49. The stock has a market capitalization of $22.59 billion, a PE ratio of 32.92, a P/E/G ratio of 2.37 and a beta of 0.80. The firm has a 50 day moving average of $227.44 and a two-hundred day moving average of $222.70.

Packaging Corporation of America (NYSE:PKG - Get Free Report) last posted its quarterly earnings results on Wednesday, July 22nd. The industrial products company reported $2.35 EPS for the quarter, topping the consensus estimate of $2.31 by $0.04. Packaging Corporation of America had a net margin of 7.25% and a return on equity of 18.96%. 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 firm posted $2.48 earnings per share. The company's quarterly revenue was up 14.7% compared to the same quarter last year. Packaging Corporation of America has set its Q3 2026 guidance at 2.910-2.910 EPS. On average, research analysts predict that Packaging Corporation of America will post 10.5 EPS for the current fiscal year.

Packaging Corporation of America Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Monday, June 15th were paid a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend was Monday, June 15th. This is a positive change from Packaging Corporation of America's previous quarterly dividend of $1.25. Packaging Corporation of America's payout ratio is presently 77.92%.

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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