Wellington Management Group LLP Sells 15,418 Shares of Packaging Corporation of America $PKG

Key Points

• Wellington Management reduced its Packaging Corporation of America position by 3.5%, selling 15,418 shares and retaining 422,628 shares worth approximately $100.7 million. Institutional investors collectively own 89.78% of the stock.
• Company insiders sold 40,391 shares worth about $10.2 million over the past three months, including substantial sales by the president and a vice president.
• Packaging Corporation of America exceeded quarterly EPS expectations with $2.35 versus $2.31 forecast, while revenue rose 14.7% year over year. Analysts maintain a “Moderate Buy” consensus with an average price target of $264.57.

Wellington Management Group LLP cut its holdings in shares of Packaging Corporation of America (NYSE:PKG - Free Report) by 3.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 422,628 shares of the industrial products company's stock after selling 15,418 shares during the quarter. Wellington Management Group LLP owned about 0.47% of Packaging Corporation of America worth $100,704,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. DV Equities LLC bought a new position in Packaging Corporation of America during the fourth quarter worth $26,000. Covestor Ltd raised its stake in Packaging Corporation of America by 140.0% during the 4th quarter. Covestor Ltd now owns 156 shares of the industrial products company's stock valued at $32,000 after purchasing an additional 91 shares during the last quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA boosted its holdings in Packaging Corporation of America by 94.1% in the 4th quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 165 shares of the industrial products company's stock valued at $34,000 after purchasing an additional 80 shares during the period. Navalign LLC bought a new stake in Packaging Corporation of America in the 4th quarter valued at $36,000. Finally, Fiduciary Financial Advisors acquired a new stake in Packaging Corporation of America in the 2nd quarter worth $36,000. 89.78% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, President Thomas A. Hassfurther sold 12,531 shares of the stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $250.00, for a total value of $3,132,750.00. Following the completion of the transaction, the president directly owned 218,751 shares of the company's stock, valued at approximately $54,687,750. This represents a 5.42% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Donald R. Shirley sold 12,000 shares of the firm's stock in a transaction that occurred on Thursday, August 20th. The stock was sold at an average price of $250.71, for a total value of $3,008,520.00. Following the transaction, the vice president owned 19,110 shares of the company's stock, valued at $4,791,068.10. This trade represents a 38.57% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 40,391 shares of company stock valued at $10,196,101. 1.60% of the stock is currently owned by insiders.

Packaging Corporation of America Price Performance

Shares of Packaging Corporation of America stock opened at $228.62 on Wednesday. The firm has a market cap of $20.37 billion, a P/E ratio of 29.69, a price-to-earnings-growth ratio of 2.21 and a beta of 0.78. The firm's 50-day simple moving average is $242.55 and its 200-day simple moving average is $227.82. Packaging Corporation of America has a twelve month low of $191.50 and a twelve month high of $259.98. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.86 and a current ratio of 2.94.

Packaging Corporation of America (NYSE:PKG - Get Free Report) last posted its quarterly earnings results on Wednesday, July 22nd. The industrial products company reported $2.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.31 by $0.04. The firm had revenue of $2.49 billion during the quarter, compared to analyst estimates of $2.49 billion. Packaging Corporation of America had a net margin of 7.25% and a return on equity of 18.94%. The company's quarterly revenue was up 14.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.48 earnings per share. Packaging Corporation of America has set its Q3 2026 guidance at 2.910-2.910 EPS. As a group, research analysts expect that Packaging Corporation of America will post 10.48 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Bank of America upped their price objective on shares of Packaging Corporation of America from $242.00 to $263.00 and gave the company a "buy" rating in a research report on Tuesday, July 14th. Truist Financial lifted their target price on Packaging Corporation of America from $258.00 to $270.00 and gave the stock a "buy" rating in a research report on Wednesday, July 15th. Citigroup upped their price target on Packaging Corporation of America from $241.00 to $254.00 and gave the company a "neutral" rating in a report on Tuesday, July 28th. UBS Group raised their price objective on Packaging Corporation of America from $271.00 to $292.00 and gave the stock a "buy" rating in a research report on Thursday, August 13th. Finally, Wells Fargo & Company reissued an "equal weight" rating and set a $246.00 price objective (up from $245.00) on shares of Packaging Corporation of America in a report on Thursday, July 9th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, Packaging Corporation of America presently has an average rating of "Moderate Buy" and a consensus target price of $264.57.

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.

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