Public Sector Pension Investment Board Reduces Stock Position in Packaging Corporation of America $PKG

Key Points

• The Public Sector Pension Investment Board significantly reduced its stake in Packaging Corporation of America by 84.3%, now holding only 12,087 shares valued at approximately $2.39 million.
• Several hedge funds increased their positions in Packaging Corporation of America, including Clearstead Trust LLC, which grew its stake by 118.6%.
• Analysts show mixed sentiments towards Packaging Corporation of America with an average rating of "Moderate Buy" and a price target of $215.40.

Public Sector Pension Investment Board cut its stake in Packaging Corporation of America (NYSE:PKG - Free Report) by 84.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 12,087 shares of the industrial products company's stock after selling 64,709 shares during the period. Public Sector Pension Investment Board's holdings in Packaging Corporation of America were worth $2,393,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Clearstead Trust LLC grew its position in shares of Packaging Corporation of America by 118.6% in the first quarter. Clearstead Trust LLC now owns 129 shares of the industrial products company's stock valued at $26,000 after purchasing an additional 70 shares during the last quarter. TCTC Holdings LLC grew its position in shares of 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 acquired a new stake in shares of Packaging Corporation of America in the first quarter valued at approximately $39,000. Banque Cantonale Vaudoise acquired a new stake in shares of Packaging Corporation of America in the first quarter valued at approximately $40,000. Finally, Manchester Capital Management LLC grew its position in shares of Packaging Corporation of America by 39.0% in the first quarter. Manchester Capital Management LLC now owns 203 shares of the industrial products company's stock valued at $40,000 after purchasing an additional 57 shares during the last quarter. 89.78% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on PKG. Jefferies Financial Group lowered shares of Packaging Corporation of America from a "buy" rating to a "hold" rating and lowered their price target for the company from $245.00 to $205.00 in a research report on Monday, June 16th. Citigroup increased their price target on shares of 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 target on shares of Packaging Corporation of America from $239.00 to $238.00 and set a "buy" rating on the stock in a research report on Friday, July 25th. Wells Fargo & Company raised 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 research report on Thursday, July 10th. Finally, UBS Group raised their target price on shares of 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. One 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 company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $215.40.

Packaging Corporation of America Stock Up 2.0%

Shares of NYSE PKG opened at $198.0840 on Wednesday. Packaging Corporation of America has a 1 year low of $172.71 and a 1 year high of $250.82. The firm's 50 day moving average price is $196.92 and its 200 day moving average price is $196.21. The firm has a market cap of $17.82 billion, a P/E ratio of 19.77, a price-to-earnings-growth ratio of 2.28 and a beta of 0.85. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.32 and a current ratio of 3.54.

Packaging Corporation of America (NYSE:PKG - Get Free Report) last announced its quarterly earnings results 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 company 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%. Packaging Corporation of America's revenue for the quarter was up 4.7% on a year-over-year basis. During the same quarter last year, the business earned $2.20 EPS. Packaging Corporation of America has set its Q3 2025 guidance at 2.800-2.800 EPS. As a group, sell-side analysts anticipate that Packaging Corporation of America will post 10.44 earnings per share for the current year.

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.

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 and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.