Pictet Asset Management Holding SA Decreases Stock Holdings in Packaging Corporation of America $PKG

Key Points

• Pictet Asset Management Holding SA cut its stake in Packaging Corporation of America by 3.4% in the first quarter, selling 11,401 shares and ending with 328,650 shares valued at about $69.7 million.
• Wall Street sentiment remains broadly positive: analysts have a consensus rating of “Moderate Buy” with an average target price of $241.83, even after some mixed price-target changes.
• Packaging Corporation of America beat quarterly EPS estimates at $2.40 per share and raised its dividend to $1.50 per quarter, boosting the annualized payout to $6.00 per share.

Pictet Asset Management Holding SA decreased its stake in shares of Packaging Corporation of America (NYSE:PKG - Free Report) by 3.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 328,650 shares of the industrial products company's stock after selling 11,401 shares during the period. Pictet Asset Management Holding SA owned about 0.37% of Packaging Corporation of America worth $69,741,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in PKG. Integrated Wealth Concepts LLC lifted its holdings in shares of Packaging Corporation of America by 73.5% during the 1st quarter. Integrated Wealth Concepts LLC now owns 2,956 shares of the industrial products company's stock valued at $585,000 after buying an additional 1,252 shares during the period. Empowered Funds LLC grew its holdings in shares of Packaging Corporation of America by 538.6% in the first quarter. Empowered Funds LLC now owns 6,303 shares of the industrial products company's stock worth $1,248,000 after acquiring an additional 5,316 shares during the period. Geneos Wealth Management Inc. grew its holdings in shares of Packaging Corporation of America by 40.4% in the first quarter. Geneos Wealth Management Inc. now owns 198 shares of the industrial products company's stock worth $39,000 after acquiring an additional 57 shares during the period. Sivia Capital Partners LLC increased its position in Packaging Corporation of America by 43.6% during the second quarter. Sivia Capital Partners LLC now owns 1,770 shares of the industrial products company's stock valued at $334,000 after acquiring an additional 537 shares during the last quarter. Finally, Cresset Asset Management LLC lifted its holdings in Packaging Corporation of America by 17.0% in the second quarter. Cresset Asset Management LLC now owns 1,772 shares of the industrial products company's stock valued at $336,000 after acquiring an additional 258 shares during the period. Hedge funds and other institutional investors own 89.78% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on PKG shares. Wells Fargo & Company dropped their target price on Packaging Corporation of America from $234.00 to $226.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 7th. Deutsche Bank Aktiengesellschaft upgraded shares of Packaging Corporation of America from a "hold" rating to a "buy" rating and increased their price objective for the stock from $225.00 to $256.00 in a research note on Monday, May 4th. Citigroup dropped their price objective on shares of Packaging Corporation of America from $227.00 to $217.00 and set a "neutral" rating on the stock in a report on Tuesday, April 14th. Weiss Ratings lowered shares of Packaging Corporation of America from a "buy (b)" rating to a "buy (b-)" rating in a research report on Tuesday, May 26th. Finally, JPMorgan Chase & Co. upped their target price on shares of Packaging Corporation of America from $225.00 to $246.00 and gave the company an "overweight" rating in a report on Friday, April 24th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $241.83.

Insiders Place Their Bets

In related news, CEO Mark W. Kowlzan sold 9,266 shares of the company's stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $217.08, for a total value of $2,011,463.28. Following the completion of the transaction, the chief executive officer owned 473,610 shares of the company's stock, valued at approximately $102,811,258.80. This represents a 1.92% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 1.60% of the company's stock.

Packaging Corporation of America Trading Down 1.8%

Packaging Corporation of America stock opened at $237.18 on Tuesday. Packaging Corporation of America has a 12-month low of $187.42 and a 12-month high of $249.51. The firm has a market capitalization of $21.13 billion, a price-to-earnings ratio of 28.85, a P/E/G ratio of 2.26 and a beta of 0.81. The firm has a 50 day moving average of $221.62 and a 200 day moving average of $219.28. The company has a current ratio of 3.07, a quick ratio of 1.88 and a debt-to-equity ratio of 0.87.

Packaging Corporation of America (NYSE:PKG - Get Free Report) last issued its quarterly earnings results on Wednesday, April 22nd. The industrial products company reported $2.40 earnings per share for the quarter, beating the consensus estimate of $2.17 by $0.23. The business had revenue of $2.37 billion for the quarter, compared to the consensus estimate of $2.45 billion. Packaging Corporation of America had a net margin of 8.04% and a return on equity of 19.27%. The company's revenue for the quarter was up 10.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.31 earnings per share. Packaging Corporation of America has set its Q2 2026 guidance at 2.330-2.330 EPS. As a group, research analysts predict that Packaging Corporation of America will post 10.45 earnings per share for the current year.

Packaging Corporation of America Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Monday, June 15th will be paid a dividend of $1.50 per share. This is a positive change from Packaging Corporation of America's previous quarterly dividend of $1.25. The ex-dividend date is Monday, June 15th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.5%. Packaging Corporation of America's dividend payout ratio is presently 72.99%.

About Packaging Corporation of America

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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