PNC Financial Services Group Inc. Acquires 6,257 Shares of Packaging Corporation of America $PKG

Key Points

• PNC Financial Services Group increased its stake in Packaging Corporation of America by 10.1% in the fourth quarter, buying 6,257 additional shares and bringing its total holding to 68,314 shares valued at about $14.1 million.
• Wall Street sentiment is constructive on PKG, with recent upgrades from UBS, Argus, Deutsche Bank, and Weiss Ratings. The stock now has a consensus rating of “Moderate Buy” and an average price target of $236.57.
• Packaging Corporation of America raised its dividend to $1.50 per share quarterly, up from $1.25, which annualizes to $6.00 per share and a 2.8% yield. The company also beat earnings expectations in its latest quarter, reporting $2.40 EPS versus $2.17 expected.

PNC Financial Services Group Inc. lifted its position in shares of Packaging Corporation of America (NYSE:PKG - Free Report) by 10.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 68,314 shares of the industrial products company's stock after buying an additional 6,257 shares during the period. PNC Financial Services Group Inc. owned about 0.08% of Packaging Corporation of America worth $14,088,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of PKG. Cornerstone Planning Group LLC boosted its position in shares of Packaging Corporation of America by 105.4% during the third quarter. Cornerstone Planning Group LLC now owns 115 shares of the industrial products company's stock worth $25,000 after buying an additional 59 shares during the period. KERR FINANCIAL PLANNING Corp acquired a new position in shares of Packaging Corporation of America during the third quarter worth about $31,000. Navalign LLC acquired a new position in shares of Packaging Corporation of America during the fourth quarter worth about $36,000. Geneos Wealth Management Inc. boosted its position in shares of Packaging Corporation of America by 40.4% during the first quarter. Geneos Wealth Management Inc. now owns 198 shares of the industrial products company's stock worth $39,000 after buying an additional 57 shares during the period. Finally, Cary Street Partners Investment Advisory LLC boosted its position in shares of Packaging Corporation of America by 40.7% during the third quarter. Cary Street Partners Investment Advisory LLC now owns 197 shares of the industrial products company's stock worth $43,000 after buying an additional 57 shares during the period. 89.78% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PKG has been the subject of several recent research reports. UBS Group raised Packaging Corporation of America from a "neutral" rating to a "buy" rating and upped their price objective for the stock from $232.00 to $248.00 in a research report on Wednesday. Argus raised Packaging Corporation of America to a "strong-buy" rating in a research report on Thursday, February 26th. Wells Fargo & Company reduced their price objective on Packaging Corporation of America from $234.00 to $226.00 and set an "overweight" rating for the company in a research report on Tuesday, April 7th. Deutsche Bank Aktiengesellschaft raised Packaging Corporation of America from a "hold" rating to a "buy" rating and increased their price target for the company from $225.00 to $256.00 in a research report on Monday, May 4th. Finally, Weiss Ratings raised Packaging Corporation of America from a "hold (c+)" rating to a "buy (b)" rating in a research report on Monday, May 11th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Packaging Corporation of America currently has a consensus rating of "Moderate Buy" and an average target price of $236.57.

Packaging Corporation of America Stock Performance

Shares of NYSE PKG opened at $215.84 on Friday. The stock has a 50 day moving average price of $212.64 and a 200 day moving average price of $213.96. Packaging Corporation of America has a 52 week low of $184.76 and a 52 week high of $249.51. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.88 and a current ratio of 3.07. The stock has a market capitalization of $19.23 billion, a PE ratio of 26.26, a price-to-earnings-growth ratio of 1.95 and a beta of 0.81.

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 EPS for the quarter, beating the consensus estimate of $2.17 by $0.23. Packaging Corporation of America had a return on equity of 19.27% and a net margin of 8.04%.The firm had revenue of $2.37 billion during the quarter, compared to analysts' expectations of $2.45 billion. During the same period in the prior year, the firm posted $2.31 earnings per share. The business's quarterly revenue was up 10.6% compared to the same quarter last year. Packaging Corporation of America has set its Q2 2026 guidance at 2.330-2.330 EPS. Analysts predict that Packaging Corporation of America will post 10.81 earnings per share for the current fiscal year.

Packaging Corporation of America Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Monday, June 15th will be given a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a yield of 2.8%. This is a boost from Packaging Corporation of America's previous quarterly dividend of $1.25. The ex-dividend date of this dividend is Monday, June 15th. Packaging Corporation of America's payout ratio is currently 60.83%.

Packaging Corporation of America Profile

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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