Packaging Corporation of America $PKG Shares Sold by Comerica Bank

Key Points

• Comerica Bank reduced its stake in Packaging Corporation of America by 9.5% in the first quarter, now holding 34,651 shares valued at approximately $6.86 million after selling 3,626 shares.
• Wall Street analysts have mixed views on the stock; while some increased their target prices, Jefferies Financial Group downgraded it from a "buy" to a "hold" rating with a lowered target price of $205.
• The company reported a quarterly EPS of $2.48, exceeding estimates, and announced a dividend of $1.25 per share, representing an annualized dividend of $5.00 with a yield of 2.4%.

Comerica Bank trimmed its stake in shares of Packaging Corporation of America (NYSE:PKG - Free Report) by 9.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 34,651 shares of the industrial products company's stock after selling 3,626 shares during the period. Comerica Bank's holdings in Packaging Corporation of America were worth $6,862,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Sowell Financial Services LLC purchased a new stake in Packaging Corporation of America in the 1st quarter worth about $309,000. Wealth Enhancement Advisory Services LLC lifted its stake in Packaging Corporation of America by 5.6% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 28,639 shares of the industrial products company's stock worth $5,671,000 after acquiring an additional 1,531 shares in the last quarter. Brookstone Capital Management lifted its stake in Packaging Corporation of America by 718.0% in the 1st quarter. Brookstone Capital Management now owns 10,086 shares of the industrial products company's stock worth $1,997,000 after acquiring an additional 8,853 shares in the last quarter. First United Bank & Trust purchased a new stake in Packaging Corporation of America in the 1st quarter worth about $289,000. Finally, Sumitomo Mitsui Trust Group Inc. lifted its stake in Packaging Corporation of America by 11.3% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 250,197 shares of the industrial products company's stock worth $49,544,000 after acquiring an additional 25,471 shares in the last quarter. 89.78% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on PKG. Citigroup upped their target price on Packaging Corporation of America from $197.00 to $214.00 and gave the stock a "neutral" rating in a research report on Friday, July 25th. UBS Group upped their target price on Packaging Corporation of America from $210.00 to $220.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 29th. Jefferies Financial Group lowered Packaging Corporation of America from a "buy" rating to a "hold" rating and dropped their target price for the stock from $245.00 to $205.00 in a research report on Monday, June 16th. Wells Fargo & Company upped their target price on Packaging Corporation of America from $180.00 to $200.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 10th. Finally, Truist Financial dropped their target price on Packaging Corporation of America from $239.00 to $238.00 and set a "buy" rating on the stock in a research report on Friday, July 25th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Packaging Corporation of America currently has an average rating of "Moderate Buy" and an average target price of $215.40.

Packaging Corporation of America Stock Performance

Shares of NYSE PKG opened at $210.95 on Thursday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.32 and a current ratio of 3.54. The firm has a market cap of $18.98 billion, a price-to-earnings ratio of 21.05, a P/E/G ratio of 2.49 and a beta of 0.85. The business's 50-day simple moving average is $199.29 and its 200-day simple moving average is $196.24. Packaging Corporation of America has a 52 week low of $172.71 and a 52 week high of $250.82.

Packaging Corporation of America (NYSE:PKG - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The industrial products company reported $2.48 EPS for the quarter, beating analysts' consensus estimates of $2.44 by $0.04. The business had revenue of $2.17 billion for the quarter, compared to analyst estimates of $2.18 billion. Packaging Corporation of America had a return on equity of 20.08% and a net margin of 10.47%.The firm's revenue for the quarter was up 4.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.20 EPS. Packaging Corporation of America has set its Q3 2025 guidance at 2.800-2.800 EPS. As a group, equities research analysts expect that Packaging Corporation of America will post 10.44 earnings per share for the current fiscal year.

Packaging Corporation of America Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Monday, September 15th will be issued a dividend of $1.25 per share. The ex-dividend date of this dividend is Monday, September 15th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.4%. Packaging Corporation of America's dividend payout ratio is currently 49.90%.

Packaging Corporation of America Company Profile

Packaging Corporation of America engages in the production of container products. It operates through the following segments: Packaging, Paper, and Corporate and Other. The Packaging segment offers a variety of corrugated packaging products, such as conventional shipping containers. The Paper segment manufactures and sells a range of papers, including communication-based papers, and pressure sensitive papers.

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