State of New Jersey Common Pension Fund D Cuts Holdings in Packaging Corporation of America $PKG

Key Points

• The State of New Jersey Common Pension Fund D has reduced its investment in Packaging Corporation of America (NYSE:PKG) by 8.6%, now holding 28,676 shares worth approximately $5.68 million.
• Several large investors, including JPMorgan Chase, have significantly increased their stakes in Packaging Corporation of America, indicating a strong interest from institutional investors, who now hold 89.78% of the company’s stock.
• Analyst ratings for PKG vary, with agencies like Jefferies Financial Group lowering their target price to $205, while others maintain a "buy" or "hold" recommendation, leading to a current consensus target price of $215.40.

State of New Jersey Common Pension Fund D reduced its stake in Packaging Corporation of America (NYSE:PKG - Free Report) by 8.6% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 28,676 shares of the industrial products company's stock after selling 2,691 shares during the period. State of New Jersey Common Pension Fund D's holdings in Packaging Corporation of America were worth $5,678,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also added to or reduced their stakes in PKG. Clearstead Trust LLC boosted its holdings in shares of Packaging Corporation of America by 118.6% during the 1st quarter. Clearstead Trust LLC now owns 129 shares of the industrial products company's stock valued at $26,000 after acquiring an additional 70 shares in the last quarter. TCTC Holdings LLC raised its position in Packaging Corporation of America by 86.4% in the first quarter. TCTC Holdings LLC now owns 151 shares of the industrial products company's stock valued at $30,000 after purchasing an additional 70 shares during the last quarter. Alpine Bank Wealth Management bought a new stake in shares of Packaging Corporation of America during the first quarter worth about $39,000. Banque Cantonale Vaudoise acquired a new position in shares of Packaging Corporation of America in the first quarter valued at approximately $40,000. Finally, Manchester Capital Management LLC raised its holdings in Packaging Corporation of America by 39.0% in the 1st quarter. Manchester Capital Management LLC now owns 203 shares of the industrial products company's stock valued at $40,000 after buying an additional 57 shares during the last quarter. Institutional investors own 89.78% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on PKG. Wells Fargo & Company boosted their target price on shares of Packaging Corporation of America from $180.00 to $200.00 and gave the stock an "equal weight" rating in a report on Thursday, July 10th. UBS Group raised 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. Citigroup upped their price target on Packaging Corporation of America from $197.00 to $214.00 and gave the company a "neutral" rating in a research report on Friday, July 25th. Truist Financial lowered their price objective on Packaging Corporation of America from $239.00 to $238.00 and set a "buy" rating for the company in a research report on Friday, July 25th. Finally, Jefferies Financial Group cut Packaging Corporation of America from a "buy" rating to a "hold" rating and reduced their target price for the company from $245.00 to $205.00 in a report on Monday, June 16th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $215.40.

Packaging Corporation of America Stock Up 6.2%

Shares of PKG traded up $12.2740 during trading hours on Thursday, reaching $210.3940. The stock had a trading volume of 2,555,166 shares, compared to its average volume of 624,540. The company has a market capitalization of $18.93 billion, a price-to-earnings ratio of 21.00, a P/E/G ratio of 2.33 and a beta of 0.85. The firm has a 50-day simple moving average of $197.35 and a 200 day simple moving average of $196.22. The company has a current ratio of 3.54, a quick ratio of 2.32 and a debt-to-equity ratio of 0.54. Packaging Corporation of America has a 12 month low of $172.71 and a 12 month high of $250.82.

Packaging Corporation of America (NYSE:PKG - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The industrial products company reported $2.48 earnings per share for the quarter, beating analysts' consensus estimates of $2.44 by $0.04. The firm had revenue of $2.17 billion for the quarter, compared to analyst estimates of $2.18 billion. Packaging Corporation of America had a net margin of 10.47% and a return on equity of 20.08%. The business's quarterly revenue was up 4.7% compared to the same quarter last year. During the same period last year, the firm earned $2.20 earnings per share. Packaging Corporation of America has set its Q3 2025 guidance at 2.800-2.800 EPS. Equities research analysts predict 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 announced a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Monday, September 15th will be issued a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date is Monday, September 15th. Packaging Corporation of America's dividend payout ratio (DPR) is currently 49.90%.

Packaging Corporation of America 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.