TD Asset Management Inc Raises Stock Holdings in Packaging Corporation of America $PKG

Key Points

• TD Asset Management Inc increased its stake in Packaging Corporation of America by 45.1% during the second quarter, owning approximately 0.09% of the company's shares, valued at $14,495,000.
• In recent actions, CEO Mark W. Kowlzan sold 25,000 shares for over $5.39 million, reducing his ownership by 5.41%.
• Analyst ratings reveal a consensus of "Moderate Buy" for PKG, with price targets ranging from $218.00 to $264.00, indicating positive sentiment towards the stock.

TD Asset Management Inc raised its position in shares of Packaging Corporation of America (NYSE:PKG - Free Report) by 45.1% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 76,919 shares of the industrial products company's stock after acquiring an additional 23,915 shares during the quarter. TD Asset Management Inc owned approximately 0.09% of Packaging Corporation of America worth $14,495,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in PKG. Clearstead Trust LLC raised its holdings in shares of Packaging Corporation of America by 118.6% during the first quarter. Clearstead Trust LLC now owns 129 shares of the industrial products company's stock valued at $26,000 after acquiring an additional 70 shares during the last quarter. Bruce G. Allen Investments LLC raised its holdings in shares of Packaging Corporation of America by 72.2% during the second quarter. Bruce G. Allen Investments LLC now owns 136 shares of the industrial products company's stock valued at $26,000 after acquiring an additional 57 shares during the last quarter. TCTC Holdings LLC raised its holdings in shares of Packaging Corporation of America by 86.4% during the first quarter. TCTC Holdings LLC now owns 151 shares of the industrial products company's stock valued at $30,000 after acquiring an additional 70 shares during the last quarter. Trust Co. of Toledo NA OH acquired a new position in shares of Packaging Corporation of America during the second quarter valued at approximately $33,000. Finally, Alpine Bank Wealth Management acquired a new position in shares of Packaging Corporation of America during the first quarter valued at approximately $39,000. Institutional investors and hedge funds own 89.78% of the company's stock.

Insiders Place Their Bets

In related news, CEO Mark W. Kowlzan sold 25,000 shares of the stock in a transaction that occurred on Thursday, September 11th. The stock was sold at an average price of $215.97, for a total value of $5,399,250.00. Following the completion of the transaction, the chief executive officer directly owned 437,378 shares in the company, valued at approximately $94,460,526.66. This represents a 5.41% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 1.50% of the company's stock.

Wall Street Analysts Forecast Growth

PKG has been the subject of a number of research analyst reports. UBS Group reduced their target price on Packaging Corporation of America from $226.00 to $225.00 and set a "neutral" rating for the company in a report on Thursday. Zacks Research raised Packaging Corporation of America from a "hold" rating to a "strong-buy" rating in a report on Friday, September 26th. Citigroup increased their price target on Packaging Corporation of America from $214.00 to $218.00 and gave the company a "neutral" rating in a report on Monday, October 6th. Truist Financial increased their price target on Packaging Corporation of America from $262.00 to $264.00 and gave the company a "buy" rating in a report on Monday, October 13th. Finally, JPMorgan Chase & Co. assumed coverage on Packaging Corporation of America in a report on Wednesday, September 24th. They issued an "overweight" rating and a $242.00 price target for the company. Two investment analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $229.33.

Packaging Corporation of America Trading Down 0.9%

Shares of Packaging Corporation of America stock opened at $203.45 on Friday. The firm has a market capitalization of $18.31 billion, a price-to-earnings ratio of 20.30, a PEG ratio of 1.19 and a beta of 0.91. Packaging Corporation of America has a fifty-two week low of $172.71 and a fifty-two week high of $250.82. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.32 and a current ratio of 3.54. The stock has a 50 day moving average of $210.67 and a 200 day moving average of $198.65.

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. As a group, research analysts predict that Packaging Corporation of America will post 10.44 earnings per share for the current year.

Packaging Corporation of America Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Monday, September 15th were given a $1.25 dividend. This represents a $5.00 annualized dividend and a yield of 2.5%. The ex-dividend date was Monday, September 15th. Packaging Corporation of America's dividend payout ratio is presently 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.

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.