Wedge Capital Management L L P NC Reduces Holdings in Packaging Corporation of America $PKG

Key Points

• Wedge Capital Management L L P NC reduced its stake in Packaging Corporation of America (PKG) by 16.6%, selling 5,832 shares and holding 29,302 shares valued at $6.043 million at quarter end.
• President Thomas A. Hassfurther sold 12,129 shares on Feb. 5 at about $230.50 each, cutting his ownership by 5.8%; company insiders now own 1.50% of the stock.
• Packaging Corporation declared a quarterly dividend of $1.25 per share (annualized $5.00, ~2.4% yield), with an ex-dividend date of March 13 and payment on April 15.

Wedge Capital Management L L P NC reduced its stake in Packaging Corporation of America (NYSE:PKG - Free Report) by 16.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 29,302 shares of the industrial products company's stock after selling 5,832 shares during the period. Wedge Capital Management L L P NC's holdings in Packaging Corporation of America were worth $6,043,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PKG. Cornerstone Planning Group LLC grew its holdings in shares of Packaging Corporation of America by 105.4% in the third quarter. Cornerstone Planning Group LLC now owns 115 shares of the industrial products company's stock worth $25,000 after purchasing an additional 59 shares during the last quarter. KERR FINANCIAL PLANNING Corp purchased a new stake in Packaging Corporation of America during the 3rd quarter valued at $31,000. Geneos Wealth Management Inc. grew its holdings in Packaging Corporation of America by 40.4% in the 1st quarter. Geneos Wealth Management Inc. now owns 198 shares of the industrial products company's stock worth $39,000 after acquiring an additional 57 shares during the last quarter. NBT Bank N A NY purchased a new position in shares of Packaging Corporation of America in the third quarter valued at about $41,000. Finally, Cary Street Partners Investment Advisory LLC raised its stake 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 valued at $43,000 after acquiring an additional 57 shares during the last quarter. Institutional investors own 89.78% of the company's stock.

Insider Transactions at Packaging Corporation of America

In related news, President Thomas A. Hassfurther sold 12,129 shares of the business's stock in a transaction dated Thursday, February 5th. The shares were sold at an average price of $230.50, for a total transaction of $2,795,734.50. Following the sale, the president owned 197,062 shares of the company's stock, valued at $45,422,791. The trade was a 5.80% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 1.50% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Truist Financial cut their target price on Packaging Corporation of America from $273.00 to $270.00 and set a "buy" rating on the stock in a research note on Thursday, January 29th. Weiss Ratings lowered Packaging Corporation of America from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Friday, February 27th. UBS Group upped their target price on Packaging Corporation of America from $230.00 to $235.00 and gave the company a "neutral" rating in a report on Monday, January 12th. JPMorgan Chase & Co. lifted their price target on shares of Packaging Corporation of America from $238.00 to $245.00 and gave the company an "overweight" rating in a report on Friday, December 5th. Finally, Zacks Research upgraded shares of Packaging Corporation of America from a "strong sell" rating to a "hold" rating in a report on Tuesday, January 6th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and five have given a Hold rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $236.00.

Packaging Corporation of America Trading Down 0.2%

NYSE PKG opened at $212.25 on Friday. The firm has a market capitalization of $18.93 billion, a PE ratio of 24.77, a P/E/G ratio of 1.64 and a beta of 0.88. The stock's 50 day moving average is $225.50 and its 200 day moving average is $213.24. Packaging Corporation of America has a twelve month low of $172.71 and a twelve month high of $249.51. The company has a quick ratio of 1.94, a current ratio of 3.17 and a debt-to-equity ratio of 0.86.

Packaging Corporation of America (NYSE:PKG - Get Free Report) last announced its quarterly earnings data on Tuesday, January 27th. The industrial products company reported $2.32 EPS for the quarter, missing the consensus estimate of $2.41 by ($0.09). Packaging Corporation of America had a net margin of 8.61% and a return on equity of 19.22%. The firm had revenue of $2.36 billion for the quarter, compared to analysts' expectations of $2.43 billion. During the same period in the prior year, the business posted $2.47 EPS. The business's quarterly revenue was up 10.1% compared to the same quarter last year. Packaging Corporation of America has set its Q1 2026 guidance at 2.200-2.20 EPS. Research analysts forecast that Packaging Corporation of America will post 10.44 earnings per share for the current fiscal year.

Packaging Corporation of America Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Friday, March 13th will be given a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date of this dividend is Friday, March 13th. Packaging Corporation of America's dividend payout ratio (DPR) is 58.34%.

Packaging Corporation of America Company 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.

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 reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.