Packaging Corporation of America $PKG Shares Purchased by Allstate Corp

Allstate Corp boosted its position in Packaging Corporation of America (NYSE:PKG) by 115.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,079 shares of the industrial products company’s stock after acquiring an additional 3,258 shares during the quarter. Allstate Corp’s holdings in Packaging Corporation of America were worth $1,254,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently added to or reduced their stakes in PKG. Ashton Thomas Private Wealth LLC bought a new stake in Packaging Corporation of America in the third quarter valued at about $485,000. Envestnet Asset Management Inc. boosted its stake in Packaging Corporation of America by 10.0% in the third quarter. Envestnet Asset Management Inc. now owns 220,499 shares of the industrial products company’s stock valued at $48,053,000 after acquiring an additional 20,016 shares during the period. GRIMES & Co WEALTH MANAGEMENT LLC acquired a new position in Packaging Corporation of America in the fourth quarter valued at approximately $4,664,000. Bank of New York Mellon Corp boosted its position in shares of Packaging Corporation of America by 119.9% during the third quarter. Bank of New York Mellon Corp now owns 1,863,359 shares of the industrial products company’s stock worth $406,082,000 after buying an additional 1,015,894 shares during the period. Finally, National Pension Service boosted its position in shares of Packaging Corporation of America by 25.1% during the third quarter. National Pension Service now owns 46,998 shares of the industrial products company’s stock worth $10,242,000 after buying an additional 9,444 shares during the period. 89.78% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CEO Mark W. Kowlzan sold 9,266 shares of the firm’s stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $217.08, for a total transaction of $2,011,463.28. Following the sale, the chief executive officer directly owned 473,610 shares in the company, valued at $102,811,258.80. This trade represents a 1.92% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 1.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on PKG. Citigroup reduced their price objective on Packaging Corporation of America from $227.00 to $217.00 and set a “neutral” rating for the company in a research report on Tuesday, April 14th. Weiss Ratings cut Packaging Corporation of America from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday. UBS Group raised Packaging Corporation of America from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $232.00 to $248.00 in a report on Wednesday, May 20th. Truist Financial reissued a “buy” rating and set a $258.00 target price (down from $260.00) on shares of Packaging Corporation of America in a report on Monday, April 27th. Finally, JPMorgan Chase & Co. boosted their target price on Packaging Corporation of America from $225.00 to $246.00 and gave the stock an “overweight” rating in a report on Friday, April 24th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $236.57.

Packaging Corporation of America Stock Performance

NYSE:PKG opened at $218.74 on Friday. Packaging Corporation of America has a 12-month low of $184.76 and a 12-month high of $249.51. The company has a quick ratio of 1.88, a current ratio of 3.07 and a debt-to-equity ratio of 0.87. The firm has a market capitalization of $19.49 billion, a PE ratio of 26.61, a price-to-earnings-growth ratio of 1.97 and a beta of 0.81. The firm has a 50-day moving average price of $213.01 and a 200 day moving average price of $214.65.

Packaging Corporation of America (NYSE:PKG) last posted its quarterly earnings results on Wednesday, April 22nd. The industrial products company reported $2.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.17 by $0.23. Packaging Corporation of America had a net margin of 8.04% and a return on equity of 19.27%. The firm had revenue of $2.37 billion during the quarter, compared to analyst estimates of $2.45 billion. During the same quarter in the prior year, the business posted $2.31 earnings per share. The company’s quarterly revenue was up 10.6% compared to the same quarter last year. Packaging Corporation of America has set its Q2 2026 guidance at 2.330-2.330 EPS. Research analysts anticipate that Packaging Corporation of America will post 10.81 earnings per share for the current fiscal year.

Packaging Corporation of America Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Monday, June 15th will be paid a $1.50 dividend. The ex-dividend date of this dividend is Monday, June 15th. This is a boost from Packaging Corporation of America’s previous quarterly dividend of $1.25. This represents a $6.00 dividend on an annualized basis and a yield of 2.7%. Packaging Corporation of America’s payout ratio is 60.83%.

Packaging Corporation of America 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.