Packaging Corporation of America $PKG Stake Raised by Amundi

Key Points

• Amundi increased its Packaging Corporation of America stake by 13.6% in the second quarter, adding 33,370 shares to hold 279,069 shares worth approximately $66.5 million. Institutional investors and hedge funds collectively own 89.78% of PKG.
• Analyst sentiment remains favorable, with the stock carrying a “Moderate Buy” consensus rating and an average price target of $264.57; UBS raised its target to $292 and Truist increased its target to $270.
• PCA exceeded quarterly earnings expectations with EPS of $2.35 and revenue of $2.49 billion, while revenue rose 14.7% year over year. The company also declared a quarterly dividend of $1.50 per share, equivalent to a 2.6% annualized yield.

Amundi increased its holdings in Packaging Corporation of America (NYSE:PKG - Free Report) by 13.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 279,069 shares of the industrial products company's stock after purchasing an additional 33,370 shares during the quarter. Amundi owned 0.31% of Packaging Corporation of America worth $66,497,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of PKG. HighTower Advisors LLC raised its holdings in Packaging Corporation of America by 0.8% during the 2nd quarter. HighTower Advisors LLC now owns 241,237 shares of the industrial products company's stock worth $57,482,000 after buying an additional 1,859 shares during the period. Groupe la Francaise purchased a new stake in Packaging Corporation of America in the 2nd quarter worth approximately $4,807,000. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in shares of Packaging Corporation of America during the second quarter worth $977,000. California State Teachers Retirement System raised its stake in shares of Packaging Corporation of America by 23,647.1% during the 2nd quarter. California State Teachers Retirement System now owns 24,687,714 shares of the industrial products company's stock worth $5,882,588,000 after purchasing an additional 24,583,753 shares in the last quarter. Finally, Wedmont Private Capital lifted its stake in Packaging Corporation of America by 37.5% in the second quarter. Wedmont Private Capital now owns 2,370 shares of the industrial products company's stock valued at $542,000 after acquiring an additional 646 shares during the last quarter. 89.78% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PKG has been the subject of a number of analyst reports. Citigroup boosted their price target on Packaging Corporation of America from $241.00 to $254.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 28th. Wells Fargo & Company restated an "equal weight" rating and set a $246.00 target price (up from $245.00) on shares of Packaging Corporation of America in a research note on Thursday, July 9th. UBS Group increased their price target on shares of Packaging Corporation of America from $271.00 to $292.00 and gave the company a "buy" rating in a report on Thursday, August 13th. Weiss Ratings raised Packaging Corporation of America from a "hold (c+)" rating to a "buy (b-)" rating in a report on Tuesday, August 25th. Finally, Truist Financial lifted their target price on shares of Packaging Corporation of America from $258.00 to $270.00 and gave the company a "buy" rating in a research report on Wednesday, July 15th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $264.57.

Packaging Corporation of America Stock Up 2.5%

Shares of NYSE PKG opened at $232.92 on Friday. The firm's 50-day moving average is $241.82 and its 200-day moving average is $227.43. The company has a current ratio of 2.94, a quick ratio of 1.86 and a debt-to-equity ratio of 0.85. Packaging Corporation of America has a 1 year low of $191.50 and a 1 year high of $259.98. The firm has a market capitalization of $20.75 billion, a PE ratio of 30.25, a price-to-earnings-growth ratio of 2.31 and a beta of 0.78.

Packaging Corporation of America (NYSE:PKG - Get Free Report) last issued its earnings results on Wednesday, July 22nd. The industrial products company reported $2.35 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 firm had revenue of $2.49 billion for the quarter, compared to analysts' expectations of $2.49 billion. During the same quarter last year, the business earned $2.48 earnings per share. The company's 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. Equities analysts expect that Packaging Corporation of America will post 10.48 EPS for the current year.

Packaging Corporation of America Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Tuesday, September 15th will be given a dividend of $1.50 per share. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.6%. Packaging Corporation of America's dividend payout ratio (DPR) is currently 77.92%.

Insider Transactions at Packaging Corporation of America

In other news, President Thomas Hassfurther sold 7,063 shares of Packaging Corporation of America stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $254.00, for a total transaction of $1,794,002.00. Following 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Donald Shirley sold 12,000 shares of Packaging Corporation of America stock in a transaction dated Thursday, August 20th. The shares were sold at an average price of $250.71, for a total value of $3,008,520.00. Following the transaction, the vice president owned 19,110 shares in the company, valued at $4,791,068.10. This trade represents a 38.57% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 40,391 shares of company stock worth $10,196,101. 1.60% of the stock is currently owned by insiders.

About Packaging Corporation of America

Packaging Corporation of America NYSE: PKG manufactures and sells containerboard and corrugated packaging products. Its offerings include shipping boxes, retail displays, protective packaging and other custom-designed packaging solutions used by businesses in a range of industries.

The company also produces uncoated paper products, including communication papers, office papers and specialty papers. PCA serves customers primarily across the United States and operates a network of paper mills, corrugated products plants, design centers and related facilities.

Packaging Corporation of America was established in 1999 following the acquisition of Tenneco Packaging by an investor group and its subsequent separation from Tenneco Inc Mark W.

Want to see what other hedge funds are holding PKG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Packaging Corporation of America (NYSE:PKG - Free Report).

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.