PNC Financial Services Group Inc. Has $11.50 Million Stake in Packaging Corporation of America $PKG

PNC Financial Services Group Inc. raised its holdings in Packaging Corporation of America (NYSE:PKG) by 2.0% in the second quarter, HoldingsChannel.com reports. The firm owned 61,014 shares of the industrial products company’s stock after purchasing an additional 1,194 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Packaging Corporation of America were worth $11,498,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently made changes to their positions in PKG. Price T Rowe Associates Inc. MD raised its position in shares of Packaging Corporation of America by 108.4% in the first 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 in the last quarter. JPMorgan Chase & Co. grew its position in Packaging Corporation of America by 46.5% during the first quarter. JPMorgan Chase & Co. now owns 3,038,859 shares of the industrial products company’s stock worth $601,755,000 after buying an additional 964,085 shares in the last quarter. Select Equity Group L.P. increased its stake in 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 worth $136,486,000 after acquiring an additional 367,933 shares during the period. Nuveen LLC bought a new position in Packaging Corporation of America during the 1st quarter worth $66,091,000. Finally, Assenagon Asset Management S.A. raised its holdings in Packaging Corporation of America by 377.1% in 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 acquiring an additional 207,244 shares in the last quarter. Institutional investors and hedge funds own 89.78% of the company’s stock.

Insiders Place Their Bets

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

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on PKG shares. Weiss Ratings reissued a “buy (b-)” rating on shares of Packaging Corporation of America in a report on Thursday. JPMorgan Chase & Co. assumed coverage on shares of Packaging Corporation of America in a research report on Wednesday, September 24th. They set an “overweight” rating and a $242.00 price objective for the company. Citigroup increased their price objective on shares of Packaging Corporation of America from $214.00 to $218.00 and gave the stock a “neutral” rating in a research note on Monday, October 6th. Wall Street Zen lowered shares of Packaging Corporation of America from a “hold” rating to a “sell” rating in a report on Saturday, November 8th. Finally, UBS Group boosted their target price on shares of Packaging Corporation of America from $225.00 to $230.00 and gave the company a “neutral” rating in a research report on Friday, October 24th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $230.17.

Packaging Corporation of America Stock Performance

NYSE:PKG opened at $197.55 on Friday. Packaging Corporation of America has a twelve month low of $172.71 and a twelve month high of $250.82. The company has a quick ratio of 2.32, a current ratio of 3.54 and a debt-to-equity ratio of 0.54. The stock’s 50-day simple moving average is $208.27 and its 200 day simple moving average is $200.99. The firm has a market capitalization of $17.78 billion, a PE ratio of 19.97, a price-to-earnings-growth ratio of 1.44 and a beta of 0.92.

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

Packaging Corporation of America Dividend Announcement

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

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.