Packaging Corporation of America $PKG Shares Acquired by Bank of New York Mellon Corp

Bank of New York Mellon Corp increased its position in shares of Packaging Corporation of America (NYSE:PKG) by 8.4% during the 2nd quarter, Holdings Channel.com reports. The fund owned 847,465 shares of the industrial products company’s stock after acquiring an additional 66,017 shares during the period. Bank of New York Mellon Corp’s holdings in Packaging Corporation of America were worth $159,705,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Benchmark Financial Wealth Advisors LLC lifted its stake in Packaging Corporation of America by 2.7% during the 2nd quarter. Benchmark Financial Wealth Advisors LLC now owns 2,306 shares of the industrial products company’s stock worth $434,000 after acquiring an additional 61 shares in the last quarter. State of Michigan Retirement System lifted its stake in Packaging Corporation of America by 0.4% during the 2nd quarter. State of Michigan Retirement System now owns 25,063 shares of the industrial products company’s stock worth $4,723,000 after acquiring an additional 100 shares in the last quarter. Tredje AP fonden lifted its stake in Packaging Corporation of America by 507.4% during the 2nd quarter. Tredje AP fonden now owns 15,434 shares of the industrial products company’s stock worth $2,909,000 after acquiring an additional 12,893 shares in the last quarter. Wolverine Asset Management LLC lifted its stake in Packaging Corporation of America by 952.6% during the 2nd quarter. Wolverine Asset Management LLC now owns 20,000 shares of the industrial products company’s stock worth $3,769,000 after acquiring an additional 18,100 shares in the last quarter. Finally, Simon Quick Advisors LLC acquired a new position in Packaging Corporation of America during the 2nd quarter worth about $237,000. Institutional investors and hedge funds own 89.78% of the company’s stock.

Insider Activity at Packaging Corporation of America

In other news, CEO Mark W. Kowlzan sold 25,000 shares of the stock in a transaction dated 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 transaction, the chief executive officer owned 437,378 shares in the company, valued at approximately $94,460,526.66. This represents a 5.41% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 1.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Truist Financial increased their target price on Packaging Corporation of America from $262.00 to $264.00 and gave the stock a “buy” rating in a research note on Monday, October 13th. Wells Fargo & Company increased their target price on Packaging Corporation of America from $200.00 to $222.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 7th. Citigroup upped their price target on Packaging Corporation of America from $214.00 to $218.00 and gave the stock a “neutral” rating in a report on Monday, October 6th. JPMorgan Chase & Co. began coverage on Packaging Corporation of America in a report on Wednesday, September 24th. They set an “overweight” rating and a $242.00 price target on the stock. Finally, Zacks Research downgraded Packaging Corporation of America from a “strong-buy” rating to a “hold” rating in a report on Monday, October 27th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Packaging Corporation of America presently has an average rating of “Hold” and a consensus target price of $230.17.

Packaging Corporation of America Trading Up 1.0%

PKG opened at $199.12 on Thursday. Packaging Corporation of America has a one year low of $172.71 and a one year high of $250.82. The company has a market cap of $17.92 billion, a P/E ratio of 20.13, a PEG ratio of 1.44 and a beta of 0.91. 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 business’s 50-day simple moving average is $210.66 and its 200-day simple moving average is $200.30.

Packaging Corporation of America (NYSE:PKG) last released its quarterly earnings data on Wednesday, October 22nd. The industrial products company reported $2.73 EPS for the quarter, missing analysts’ consensus estimates of $2.83 by ($0.10). Packaging Corporation of America had a net margin of 10.18% and a return on equity of 19.98%. The business had revenue of $2.31 billion during the quarter, compared to analysts’ expectations of $2.29 billion. During the same quarter in the previous year, the company posted $2.65 EPS. The company’s revenue was up 6.0% compared to the same quarter last year. Packaging Corporation of America has set its Q4 2025 guidance at 2.400-2.400 EPS. As a group, equities research analysts expect that Packaging Corporation of America will post 10.44 EPS for the current fiscal year.

Packaging Corporation of America Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 15th. Stockholders of record on Monday, September 15th were issued a $1.25 dividend. The ex-dividend date was Monday, September 15th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.5%. Packaging Corporation of America’s dividend payout ratio is presently 50.56%.

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.