Truist Financial Corp Grows Stock Holdings in Packaging Corporation of America $PKG

Key Points

• Truist Financial Corp increased its stake in Packaging Corporation of America by 148.5%, owning 40,187 shares valued at $7.57 million after acquiring 24,015 additional shares in the second quarter.
• Packaging Corporation of America is receiving strong ratings from analysts, with Truist Financial raising its target price from $238 to $262, and Zacks upgrading the stock to a "strong-buy" rating.
• The company announced a quarterly dividend of $1.25 to be paid on October 15th, translating to an annualized dividend of $5.00 and a yield of 2.3%.

Truist Financial Corp boosted its position in Packaging Corporation of America (NYSE:PKG - Free Report) by 148.5% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 40,187 shares of the industrial products company's stock after acquiring an additional 24,015 shares during the period. Truist Financial Corp's holdings in Packaging Corporation of America were worth $7,573,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in PKG. Price T Rowe Associates Inc. MD grew its stake in shares of Packaging Corporation of America by 108.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,363,617 shares of the industrial products company's stock valued at $468,045,000 after buying an additional 1,229,219 shares during the period. JPMorgan Chase & Co. grew its stake in shares of Packaging Corporation of America by 46.5% during the 1st quarter. JPMorgan Chase & Co. now owns 3,038,859 shares of the industrial products company's stock valued at $601,755,000 after buying an additional 964,085 shares during the period. Select Equity Group L.P. grew its stake in shares of Packaging Corporation of America by 114.5% during the 1st quarter. Select Equity Group L.P. now owns 689,253 shares of the industrial products company's stock valued at $136,486,000 after buying an additional 367,933 shares during the period. Nuveen LLC purchased a new stake in shares of Packaging Corporation of America during the 1st quarter valued at $66,091,000. Finally, Assenagon Asset Management S.A. grew its stake in shares of Packaging Corporation of America by 377.1% during the 2nd quarter. Assenagon Asset Management S.A. now owns 262,203 shares of the industrial products company's stock valued at $49,412,000 after buying an additional 207,244 shares during the period. 89.78% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

PKG has been the subject of several research reports. Zacks Research raised shares of Packaging Corporation of America from a "hold" rating to a "strong-buy" rating in a research note on Friday, September 26th. Truist Financial lifted their target price on shares of Packaging Corporation of America from $238.00 to $262.00 and gave the company a "buy" rating in a report on Wednesday, September 17th. Jefferies Financial Group lowered shares of Packaging Corporation of America from a "buy" rating to a "hold" rating and reduced their target price for the company from $245.00 to $205.00 in a report on Monday, June 16th. Wells Fargo & Company lifted their target price on shares of Packaging Corporation of America from $180.00 to $200.00 and gave the company an "equal weight" rating in a report on Thursday, July 10th. Finally, Weiss Ratings restated a "buy (b-)" rating on shares of Packaging Corporation of America in a report on Saturday, September 27th. Two analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, Packaging Corporation of America presently has an average rating of "Moderate Buy" and an average target price of $223.83.

Packaging Corporation of America Stock Performance

Shares of PKG stock opened at $214.75 on Monday. Packaging Corporation of America has a 12 month low of $172.71 and a 12 month high of $250.82. The company has a debt-to-equity ratio of 0.54, a current ratio of 3.54 and a quick ratio of 2.32. The firm has a market capitalization of $19.32 billion, a P/E ratio of 21.43, a P/E/G ratio of 1.84 and a beta of 0.91. The company's fifty day moving average price is $208.05 and its two-hundred day moving average price is $197.90.

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 EPS for the quarter, topping analysts' consensus estimates of $2.44 by $0.04. Packaging Corporation of America had a net margin of 10.47% and a return on equity of 20.08%. The firm had revenue of $2.17 billion for the quarter, compared to analyst estimates of $2.18 billion. During the same quarter in the previous year, the business posted $2.20 EPS. The firm's revenue was up 4.7% compared to the same quarter last year. Packaging Corporation of America has set its Q3 2025 guidance at 2.800-2.800 EPS. On average, research analysts anticipate that Packaging Corporation of America will post 10.44 earnings per share for the current fiscal year.

Packaging Corporation of America Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Monday, September 15th will be issued a $1.25 dividend. The ex-dividend date is Monday, September 15th. This represents a $5.00 dividend on an annualized basis and a yield of 2.3%. Packaging Corporation of America's payout ratio is currently 49.90%.

Insider Buying and Selling

In other Packaging Corporation of America news, CEO Mark W. Kowlzan sold 25,000 shares of the business's stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $215.97, for a total value of $5,399,250.00. Following the transaction, the chief executive officer owned 437,378 shares in the company, valued at $94,460,526.66. The trade was a 5.41% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 1.50% of the stock is owned by corporate insiders.

Packaging Corporation of America Company Profile

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.

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