Wedge Capital Management L L P NC Purchases 3,888 Shares of Packaging Corporation of America $PKG

Key Points

• Wedge Capital Management L L P NC increased its stake in Packaging Corporation of America (PKG) by 12.2%, holding a total of 35,858 shares valued at approximately $6.76 million as of the latest SEC filing.
• The company will pay a quarterly dividend of $1.25 per share on October 15th, representing an annualized yield of 2.4%.
• Analysts have set new price targets for PKG, with Truist Financial raising its price objective from $238 to $262 and giving a "buy" rating.

Wedge Capital Management L L P NC lifted its holdings in Packaging Corporation of America (NYSE:PKG - Free Report) by 12.2% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 35,858 shares of the industrial products company's stock after acquiring an additional 3,888 shares during the period. Wedge Capital Management L L P NC's holdings in Packaging Corporation of America were worth $6,757,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. CX Institutional boosted its stake in shares of Packaging Corporation of America by 37.3% in the 2nd quarter. CX Institutional now owns 630 shares of the industrial products company's stock worth $119,000 after buying an additional 171 shares during the last quarter. UMB Bank n.a. raised its holdings in Packaging Corporation of America by 7.4% during the 2nd quarter. UMB Bank n.a. now owns 1,296 shares of the industrial products company's stock valued at $244,000 after acquiring an additional 89 shares during the period. Phillips Wealth Planners LLC bought a new position in shares of Packaging Corporation of America in the second quarter worth $221,000. Assenagon Asset Management S.A. increased its holdings in shares of Packaging Corporation of America by 377.1% in the second quarter. Assenagon Asset Management S.A. now owns 262,203 shares of the industrial products company's stock worth $49,412,000 after purchasing an additional 207,244 shares during the period. Finally, IFM Investors Pty Ltd grew its position in Packaging Corporation of America by 13.0% in the second quarter. IFM Investors Pty Ltd now owns 16,352 shares of the industrial products company's stock worth $3,082,000 after acquiring an additional 1,876 shares in the last quarter. 89.78% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have issued reports on PKG. UBS Group upped their price target on shares of Packaging Corporation of America from $210.00 to $220.00 and gave the company a "neutral" rating in a research report on Tuesday, July 29th. Truist Financial raised 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 research note on Wednesday, September 17th. Wells Fargo & Company raised 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 research note on Thursday, July 10th. Jefferies Financial Group cut shares of Packaging Corporation of America from a "buy" rating to a "hold" rating and cut their price target for the company from $245.00 to $205.00 in a report on Monday, June 16th. Finally, Citigroup lifted their price target on shares of Packaging Corporation of America from $197.00 to $214.00 and gave the stock a "neutral" rating in a research note on Friday, July 25th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $220.20.

Insider Buying and Selling

In other Packaging Corporation of America news, CEO Mark W. Kowlzan sold 25,000 shares of Packaging Corporation of America 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 completion of the transaction, the chief executive officer owned 437,378 shares of the company's stock, valued at $94,460,526.66. The trade was a 5.41% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. 1.50% of the stock is currently owned by corporate insiders.

Packaging Corporation of America Stock Performance

Packaging Corporation of America stock traded up $1.13 during trading hours on Tuesday, reaching $213.84. 137,115 shares of the stock were exchanged, compared to its average volume of 841,303. 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 has a 52-week low of $172.71 and a 52-week high of $250.82. The stock has a market cap of $19.24 billion, a P/E ratio of 21.33, a P/E/G ratio of 1.84 and a beta of 0.87. The firm's 50 day moving average is $205.90 and its 200 day moving average is $196.76.

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, beating 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 analysts' expectations of $2.18 billion. During the same period in the prior year, the company earned $2.20 EPS. The firm's revenue was up 4.7% on a year-over-year basis. Packaging Corporation of America has set its Q3 2025 guidance at 2.800-2.800 EPS. Analysts predict that Packaging Corporation of America will post 10.44 EPS for the current fiscal year.

Packaging Corporation of America Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Monday, September 15th will be given a dividend of $1.25 per share. The ex-dividend date of this dividend is Monday, September 15th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.3%. Packaging Corporation of America's dividend payout ratio (DPR) is presently 49.90%.

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.