Panagora Asset Management Inc. Lowers Stock Holdings in Packaging Corporation of America $PKG

Key Points

• Panagora Asset Management Inc. sold 2,678 shares of Packaging Corporation of America, reducing its stake by 7.8%, leaving them with 31,786 shares valued at approximately $6.29 million.
• Packaging Corporation of America is set to distribute a quarterly dividend of $1.25 on October 15th, indicating an annualized dividend yield of 2.3%.
• Analysts have revised their price targets for Packaging Corporation of America, with estimates ranging from $180.00 to $220.00, and a consensus rating of "Moderate Buy" for the stock.

Panagora Asset Management Inc. lowered its position in shares of Packaging Corporation of America (NYSE:PKG - Free Report) by 7.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 31,786 shares of the industrial products company's stock after selling 2,678 shares during the quarter. Panagora Asset Management Inc.'s holdings in Packaging Corporation of America were worth $6,294,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Sowell Financial Services LLC acquired a new stake in shares of Packaging Corporation of America in the first quarter valued at approximately $309,000. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Packaging Corporation of America by 5.6% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 28,639 shares of the industrial products company's stock valued at $5,671,000 after purchasing an additional 1,531 shares during the last quarter. Brookstone Capital Management increased its holdings in shares of Packaging Corporation of America by 718.0% in the first quarter. Brookstone Capital Management now owns 10,086 shares of the industrial products company's stock valued at $1,997,000 after purchasing an additional 8,853 shares during the last quarter. First United Bank & Trust acquired a new stake in shares of Packaging Corporation of America in the first quarter valued at approximately $289,000. Finally, Sumitomo Mitsui Trust Group Inc. increased its holdings in shares of Packaging Corporation of America by 11.3% in the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 250,197 shares of the industrial products company's stock valued at $49,544,000 after purchasing an additional 25,471 shares during the last quarter. Institutional investors and hedge funds own 89.78% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. UBS Group increased their price target on Packaging Corporation of America from $210.00 to $220.00 and gave the company a "neutral" rating in a report on Tuesday, July 29th. Truist Financial cut their price target on Packaging Corporation of America from $239.00 to $238.00 and set a "buy" rating for the company in a report on Friday, July 25th. Citigroup increased their price target on Packaging Corporation of America from $197.00 to $214.00 and gave the company a "neutral" rating in a report on Friday, July 25th. Wells Fargo & Company increased their price objective 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, Jefferies Financial Group lowered Packaging Corporation of America from a "buy" rating to a "hold" rating and lowered their price objective for the stock from $245.00 to $205.00 in a research report on Monday, June 16th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $215.40.

Packaging Corporation of America Trading Up 1.6%

Packaging Corporation of America stock traded up $3.48 during mid-day trading on Friday, hitting $220.20. The company's stock had a trading volume of 873,545 shares, compared to its average volume of 776,675. The firm has a market capitalization of $19.81 billion, a PE ratio of 21.98, a price-to-earnings-growth ratio of 1.89 and a beta of 0.87. Packaging Corporation of America has a 1 year low of $172.71 and a 1 year high of $250.82. The company has a current ratio of 3.54, a quick ratio of 2.32 and a debt-to-equity ratio of 0.54. The stock's fifty day moving average is $203.36 and its two-hundred day moving average is $196.57.

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 earnings per share for the quarter, topping the consensus estimate of $2.44 by $0.04. The company had revenue of $2.17 billion during 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% compared to the same quarter last year. During the same period in the prior year, the business posted $2.20 earnings per share. Packaging Corporation of America has set its Q3 2025 guidance at 2.800-2.800 EPS. On average, analysts anticipate that Packaging Corporation of America will post 10.44 EPS for the current year.

Packaging Corporation of America Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Monday, September 15th will be given a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a dividend yield of 2.3%. The ex-dividend date is Monday, September 15th. Packaging Corporation of America's dividend payout ratio (DPR) is currently 49.90%.

About Packaging Corporation of America

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.